s 55 Composition of offences
55.—(1) The Commission may compound any offence under this Act (except Part 9) that is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum not exceeding the lower of the following:(a) one half of the amount of the maximum fine that is prescribed for the offence; (b) a sum of $5,000. (2) The Commission may compound any offence under Part 9 that is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum not exceeding $1,000. (3) On payment of the sum of money, no further proceedings are to be taken against that person in respect of the offence. (4) The Commission may, with the approval of the Minister, make regulations prescribing the offences that may be compounded.[22/2016]