Compounding of offence

(1) The Market Committee may accept from any person who has committed or is reasonably suspected of having committed an offence (other than contravention of Sections (37) and 38) against this Act or the rules or bye-laws made thereunder by way of compounding of such offence; (a) Where the offence consists of the failure to pay or the evasion of any fee, or other amount recoverable under this Act or the rules or the bye-laws, in addition to the fee or other amount and not more than five times the amount of fee or other amount with a minimum of Rs. 250; and (b) in other cases; a sum of money not exceeding one thousand rupees. (2) on the compounding of any offence under sub-section (1) no proceeding shall be taken or continued against the person concerned in respect or that offence and if any proceedings in respect of that offence have already been instituted against him in any court, the compounding shall have the effect of his acquittal.