Option to pay a fixed penalty in lieu of criminal proceedings

(1) The Central Bank may issue to any person who, there is reasonable cause to believe, has committed an offence under this Act or any regulations made hereunder, a Notice offering the person the option to discharge any liability to conviction in respect of that offence by payment of the fixed penalty specified for the offence in the Regulations made under this Act. (2) The fixed penalty referred to in sub-section (1) above shall not be greater than the maximum penalty prescribed for that offence in this Act. (3) Where a person is given a Notice under this section, criminal proceedings shall not be taken against him for the offence specified in the Notice until the expiration of twenty- one days commencing from the day after which the Notice was served. (4) Where a person fails to pay the fixed penalty referred to in sub-section (1) or where he continues to commit the offence after the expiration of twenty-one days following the date of receipt of the Notice referred to in sub-section (1), that person is liable on summary conviction for the original offence committed. 203 (5) Payment of a fixed penalty under this section shall be made to the Central Bank and in any criminal proceedings against an offender referred to in this section, a certificate that payment of the penalty was or was not made to the Central Bank by the specified date shall, if the certificate purports to be signed by the Governor, be admissible as evidence of the facts stated therein. (6) A Notice under sub-section (1) shall– (a) specify the offence alleged; (b) give such particulars of the offence as are necessary for giving reasonable information of the allegation; and (c) state– (i) that criminal proceedings shall not be laid until the expiration of twenty-one days from the date of receipt of the Notice where payment of the fixed penalty is made and the commission of the offence is discontinued; and (ii) the amount of the fixed penalty and the fact that it is to be paid to the Central Bank. (7) In any proceedings for an offence to which this section applies, no reference shall be made to the giving of any notice under this section or to the payment or non-payment of a fixed penalty thereunder unless in the course of the proceedings or in some document which is before the court in connection with the proceedings, reference has been made by or on behalf of the accused to the giving of such a Notice, or, as the case may be, to such payment. 204 (8) The Central Bank may, by Regulations, provide for any matter incidental to the operation of this section, and in particular, any such Regulations may prescribe– (a) the form of Notice under sub-section (1); and (b) the nature of the information to be furnished to the Central Bank along with any payment.