Composition of offences

(1) A designated officer not below the rank of Deputy Executive Engineer may accept from any person who committed or in respect of whom a reasonable belief can be inferred that he has committed an offence punishable under this Act or the rules made thereunder, a sum of money not exceeding rupees ten thousand by way of composition for such offence. (2) On payment of such sum of money, the said person, if in custody, shall be discharged and no further proceedings shall be taken against him in regard to the offence, so compounded.