Banking and Financial Institutions Act 1989 · s 108

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108. (1) The Governor, with the concurrence of the Minister, may, in a case where he deems it fit and proper to do so, compound any offence committed by any person which is punishable under section 103 or 104, or under any other provision of this Act, by making a written offer to such person to compound the offence by paying to the Governor within such time as may be specified in the offer such sum of money as may be specified in the offer which shall not exceed fifty per centum of the amount of the maximum fine (including the daily fine, if any, in the case of a continuing offence) to which that person would have been liable if he had been convicted of the offence.
(2) Any monies paid to the Governor pursuant to the provisions of subsection (1) shall be paid into and form part of the Federal Consolidated Fund.
(3) 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, and where the amount specified in the offer is not paid within the time specified in the offer, or any extension of it which the Governor may grant, prosecution for the offence may be instituted at any time thereafter 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.

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s 108

(1)

The Governor, with the concurrence of the Minister, may, in a case where he deems it fit and proper to do so, compound any offence committed by any person which is punishable under section 103 or 104, or under any other provision of this Act, by making a written offer to such person to compound the offence by paying to the Governor within such time as may be specified in the offer such sum of money as may be specified in the offer which shall not exceed fifty per centum of the amount of the maximum fine (including the daily fine, if any, in the case of a continuing offence) to which that person would have been liable if he had been convicted of the offence.

(2)

Any monies paid to the Governor pursuant to the provisions of subsection (1) shall be paid into and form part of the Federal Consolidated Fund.

(3)

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, and where the amount specified in the offer is not paid within the time specified in the offer, or any extension of it which the Governor may grant, prosecution for the offence may be instituted at any time thereafter 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.