Section 77
Power to compound
of Labuan Foundations Act 2010
The Authority may, with the consent in writing of the
Public Prosecutor, compound any offence committed by any person under this Act by making a written offer to the person suspected to have committed the offence to compound the offence upon payment to the Authority of an amount of money not exceeding fifty per centum of the amount of maximum fine for that offence within such time as may be specified in his 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 Authority 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 document or thing seized in connection with the offence may be released or forfeited by the Authority, subject to such terms and conditions as he deems fit to impose in accordance with the conditions of the compound.
(4)
All sums of money received by the Authority under this section shall be paid into the Federal Consolidated Fund.