Banking and Financial Institutions Act 1989 · As enacted · Part XIV · Offences
Section 108
Official textFrom Laws of Malaysia Online, unchanged
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.
Governor
"Governor" means the Governor of the Bank, and includes the Deputy Governor of the Bank;
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.
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.
person
"person" includes an individual, any corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
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.
Terms defined in s 2
Governor
Defined · s 2"Governor" means the Governor of the Bank, and includes the Deputy Governor of the Bank;
Minister
Defined · s 2"Minister" means the Minister for the time being charged with the responsibility for finance;
person
Defined · s 2"person" includes an individual, any corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;