Section 30
of International Banking Order, 2000
ORDERIn forceProvision 30 of 35
Section 30
The Authority may, without instituting proceedings against any person for any offence under this Order, or the regulations which is punishable only by a fine, demand and receive the amount of the fine or such reduced amount as he thinks fit from that person, whereupon –
(a)
if that person pays the amount to the Authority within fourteen days after the demand, no proceedings shall be taken against him in relation to the offence;
(b)
if that person does not pay the amount so demanded, the Authority may cause proceedings to be instituted in relation to the offence.
Regulations.