Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 12 · General Provisions Applicable to Parts 4 to 11
271. Composition of offences
Feedback & supportThe Official Receiver may compound any offence under this Part or Parts 4 to 11 that 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:
Official Receiver
“Official Receiver” means the Official Receiver appointed under section 17(1) and includes a Deputy Official Receiver, a Senior Assistant Official Receiver and an Assistant Official Receiver;
one half of the amount of the maximum fine that is prescribed for the offence;
$5,000.
The Official Receiver may compound any offence under this Part or Parts 4 to 11 (including an offence under a provision that has been repealed) that —
was compoundable under this Act at the time the offence was committed; but(b)has ceased to be so compoundable,by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding the lower of the following:
one half of the amount of the maximum fine that is prescribed for the offence at the time it was committed;
$5,000.
The Official Receiver may authorise either generally or specifically the Registrar of Companies to compound —
Registrar of Companies
“Registrar of Companies” means the Registrar of Companies appointed under section 8 of the Companies Act 1967 and includes any Deputy or Assistant Registrar of Companies;
any offence under this Part or Parts 4 to 11 that is prescribed as a compoundable offence; and
any offence under this Part or Parts 4 to 11 (including an offence under a provision that has been repealed) that —
was compoundable under this Act at the time the offence was committed; but(ii)has ceased to be so compoundable.
If the Registrar of Companies is authorised by the Official Receiver under subsection (3), the Registrar of Companies may compound an offence that he or she is authorised to compound by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding the lower of the following:
one half of the amount of the maximum fine that is prescribed for the offence at the time it was committed;
$5,000.
On payment of the sum of money mentioned in subsection (1), (2) or (4), no further proceedings may be taken against that person in respect of the offence.
All sums collected under this section must be paid into the Consolidated Fund.