Powers with respect to prosecuting for offences.

The Board may– (a) compromise with any person who in the opinion of the Board has committed an offence punishable under this Act or any rules made thereunder and on such compromise no proceedings shall be taken against such person in respect of such offence; (b) withdraw prosecutions under this Act or any rules made thereunder; (c) compound any offence under this Act or any rules made thereunder which may, by rules made by the Government, be declared compoundable: Provided that the Government may make rules to regulate the proceedings of persons empowered to compromise offences under this section.