Clause 62

The Oversight Committee or any officer of the Authority who is authorised by the Oversight Committee in that behalf may, in its or 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 $1,000.

On payment of such sum of money, no further proceedings shall be taken against such person in respect of the offence.