57. Compounding of offences

The Minister may, on the recommendation of the Bank, with the approval of the Public Prosecutor, make regulations prescribing—

The Governor may, with the consent of the Public Prosecutor, at any time before a prosecution is instituted, compound any offence which may be compounded by making an offer to the person reasonably suspected of having committed the offence upon payment to the Governor a sum of money not exceeding the amount of the maximum fine to which the person would have been liable to if he had been convicted of the offence, within such time as may be specified in the offer.

An offer under subsection (2) may be made at any time after the offence has been committed but before any prosecution for it has been instituted, and where the amount specified in the offer is not paid within the time specified in the offer, or such extended time as the Governor may grant, prosecution for the offence may be instituted at any time after that against the person to whom the offer was made.

Where an offence has been compounded under subsection (1), no prosecution shall be instituted in respect of the offence against the person to whom the offer to compound was made, and any document or thing seized in connection with the offence may be released by the Bank, subject to such terms as the Bank thinks fit.