Section 31

For the purpose of this section, the expression “officer” has the same meaning as assigned to it in the Companies Act 2016 [Act 777].

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Conduct of prosecution 32.

Prosecution for offences against this Ordinance or its rules may be conducted by the Public Prosecutor or any person authorized in writing by him pursuant to section 377(b) of the Criminal

Procedure Code [Act 593].

Power to compound 33.—

Any officer authorized in writing by the Authority may compound any offence punishable under this Ordinance or any regulations made under this Ordinance, by collecting from the person reasonably suspected of having committed the offence, such sum of money not exceeding one-half of the amount of the maximum fine to which that person would have been liable if he had been convicted of the offence, within such time as may be specified in the offer.

Where an offer made under subsection (2) is not accepted within the time specified in the offer or within such extended period as the Authority may grant, prosecution for the offence may be instituted at any time thereafter against the person to whom the offer was made.

Where an offence has been compounded under subsection

, no prosecution shall be instituted in respect of the offence against the person whom the offer to compound was made.

All sums of money accepted under subsection (2) shall be paid into the State Consolidated Fund.