Section 10K

Any payment of the compound shall be made to the licensing authority within seven days of the receipt of the compound notice. Upon receipt of the payment under subsection (1), no further proceeding shall be taken against such person in respect of such offence and any thing seized in connection with the offence shall be deemed to be forfeited.

Any monies paid to the licensing authority pursuant to this section shall be paid into and form part of the fund constituted under any law relating to local authority and if the compound is made by the police under this section, such monies shall be paid into and form part of the Federal Consolidated Fund.

General penalty.