Payment and Settlement Systems (Oversight) Act · s 58

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s 58Composition of offences

(1)

The Authority may, in its discretion, compound any offence against 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 one half of the amount of the maximum fine prescribed for that offence.

(2)

On payment of the sum of money referred to in subsection (1), no further proceedings shall be taken against that person in respect of the offence.

(3)

The Minister may, with the approval of His Majesty the Sultan and Yang Di-Pertuan make regulations to prescribe the offences which may be compounded.

(4)

All sums collected by the Authority under subsection (1) shall be paid to the Authority.