Section 38A
Compounding of offences
of Companies Commission of Malaysia Act 2001
The Registrar may, with the consent in writing of the Public
Prosecutor, compound any offence committed by any person under this
Act and the laws specified in the First Schedule by making a written
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offer to the person suspected to have committed the offence to compound the offence upon payment to the Registrar an amount of money not exceeding fifty per centum of the maximum fine for that offence within such time as may be specified in the written 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, and if the amount specified in the offer is not paid within the time specified in the offer, or such extended time as the
Registrar may grant, prosecution for the offence may be instituted at any time after that against the person to whom the offer was made.
(3)
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 equipment, instrument, material, book, record, account, document or thing seized under this Act and the laws specified in the First Schedule in connection with the offence may be released by the Registrar, subject to such terms and conditions as the Registrar thinks fit to impose in accordance with the conditions of the compound.
(4)
All sums of money received by the Registrar under this section shall be paid into the fund established under section 28.
(5)
In relation to the offences that may be compounded under subsection (1), the Minister may prescribe the offences that may be compounded and the procedures for compounding such offences.