International Banking Order, 2000 · s 30

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s 30

The Authority may, without instituting proceedings against any person for any offence under this Order, or the regulations which is punishable only by a fine, demand and receive the amount of the fine or such reduced amount as he thinks fit from that person, whereupon-

{a} if that person pays the amount to the Authority within fourteen days after the demand, no proceedings shall be taken against him in relation to the offence;

{b) if that person does not pay the amount so demanded, the Authority may cause proceedings to be instituted in relation to the offence.

Regulations.