Money Services Business Act 2011 · s 88

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88.
Power to compound
(1)
The Governor may, with the consent in writing of the
Public Prosecutor, offer in writing to compound any offence committed by any person under this Act and prescribed to be a compoundable offence by making a written offer to such person to compound the offence upon payment to the Governor of such amount not exceeding the amount of the maximum fine for that offence within such time as may be specified in the offer.
(2)
An offer under subsection (1) may be made at any time after the offence has been committed, but before any prosecution for it has been instituted.
(3)
If the amount specified in the offer under subsection (1) is not paid within the time specified in the offer or within such extended period 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.
(4)
Where an offence has been compounded under subsection (1), no prosecution shall thereafter be instituted in respect of such 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 and conditions as the
Bank thinks fit.

Money Services Business                                      87
(5)
All sums of money received under subsection (1) shall be paid into the Federal Consolidated Fund.

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s 88Power to compound

(1)

The Governor may, with the consent in writing of the

Public Prosecutor, offer in writing to compound any offence committed by any person under this Act and prescribed to be a compoundable offence by making a written offer to such person to compound the offence upon payment to the Governor of such amount not exceeding the amount of the maximum fine for that offence within such time as may be specified in the offer.

(2)

An offer under subsection (1) may be made at any time after the offence has been committed, but before any prosecution for it has been instituted.

(3)

If the amount specified in the offer under subsection (1) is not paid within the time specified in the offer or within such extended period 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.

(4)

Where an offence has been compounded under subsection (1), no prosecution shall thereafter be instituted in respect of such 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 and conditions as the

Bank thinks fit.

Money Services Business 87

(5)

All sums of money received under subsection (1) shall be paid into the Federal Consolidated Fund.