(1) This section applies to an offence specified in Schedule 3.
(2) Where circumstances giving rise to a reasonable belief that a person has committed an offence specified in Schedule 3, the Central Bank may give notice in the form prescribed in Schedule 4 offering that person the opportunity to discharge any liability to conviction of that offence by payment of a fixed penalty under this section.
(3) No person shall be liable to be convicted of the offence if the fixed penalty is paid in accordance with this section and the requirement in respect of which the offence was committed is complied with before the expiration of 15 days following the date of the notice referred to in subsection (2) or a longer period, if any, as may be specified in that notice or before the date on which proceedings are begun, whichever event last occurs.
(4) Where a person is given notice under this section in respect of an offence, proceedings shall not be taken against the person for that offence until the end of the 15 days following the date of the notice or a longer period, if any, as may have been specified in the notice.
(5) Where a person makes a payment of a fixed penalty under this section it shall be made to the Central Bank and in any proceedings a certificate that payment of a fixed penalty was or was not made to the Central Bank by a date specified in the certificate shall, if the certificate purports to be signed by the Governor of the Central Bank, be admissible as evidence of the stated facts.
(6) A notice under subsection (2) shall —
(a) specify the offence alleged;
(b) give such particulars of the offence as are necessary for giving reasonable information of the allegation; and
© state the period, whether 15 days or a longer period, during which, by virtue of subsection (4) of this section proceedings will not be taken for the offence.
(7) In any proceedings for an offence to which this section applies, no reference shall be made after the conviction of the accused to the giving of any notice under this section or to the payment or non-payment of a fixed penalty unless in the course of the proceedings or in some document which is before the court in connection with the proceedings, reference has been made by or on behalf of the accused to the giving of such a notice, or, as the case may be, to such payment.
(8) In this section “proceedings” means any criminal proceedings in respect of the act or omission constituting the offence specified in the notice under subsection (2) of this section and “convicted” shall be construed in like manner.
(9) The Minister upon the recommendation of Central Bank may, by Order make provision as to any matter incidental to the operation of this section, and in particular, any such Order may —
(a) prescribe the nature of the information to be furnished to the Central Bank along with payment;
(b) prescribe the arrangements for the Central Bank to furnish any information with regard to any payment pursuant to a notice under this section.