Companies Act · s 316A

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s 316A

(1)

The Registrar may, in his discretion, compound any offence under this Act which is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding the lower of the following -

(a)

one half of the amount of the maximum fine that is prescribed for the offence;

(2)

On payment of such sum of money referred to in subsection (I), no further proceedings shall be taken against that person in respect of the offence.

Companies

CAP. 39 247