(1) The Commissioner or any other officer of the Corporation authorised by it in this behalf by a general or special order or a sub-committee of the Corporation appointed by it may, either before or after the institution of the proceedings, compound any offence made punishable by or under this Act, or any rule or any bye-law made thereunder.

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(2) Where an offence has been compounded, the offender, if in custody, shall be discharged and no further proceeding shall be taken against him in respect of the offence so compounded.