Clause 13
New section 56A
of Accountants (Amendment) Bill
BillNot in forceProvision 13 of 15
Clause 13
The Accountants Act is amended by inserting, immediately after section 56, the following section:“Composition of offences56A.—
(1)
The Board or any person authorised in writing in that behalf by the Board may, in its or his discretion, compound any offence under this Act or any rules made thereunder 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 $1,000.
(2)
On payment of such sum of money, no further proceedings shall be taken against such person in respect of the offence.”.