Composition of offences
126.—(1)  Any senior officer of customs may compound any offence under this Act that is prescribed to be a compoundable offence by collecting from the person reasonably suspected of having committed the offence a sum not exceeding $5,000.
(2)  On payment of the sum of money, the person reasonably suspected of having committed an offence, if in custody, must be discharged, any properties seized must be released and no further proceedings are to be taken against that person or property unless the property consists of goods the import of which is absolutely prohibited under section 38 or of goods manufactured in Singapore without a licence in contravention of this Act, in which case the goods are to be forfeited.