12. The principal Act is amended by inserting, immediately after section 33, the following section:
—(1) The Minister or any officer authorised by the Minister may, in 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 in the case of an offence punishable on conviction with a fine not exceeding $5,000 (whether with or without imprisonment); or
a sum of money not exceeding $5,000 in the case of an offence punishable on conviction with a fine exceeding $5,000 (whether with or without imprisonment).
(2) On payment of such sum of money, no further proceedings shall be taken against such person in respect of the offence.
(3) The Minister may make rules to prescribe the offences which may be compounded and the method and procedure by which those offences may be compounded under this section.”.