53.—(1) The Director-General or any officer authorised in writing in that behalf by the Agency may, in his discretion, compound any offence under this Act or the regulations which is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum of money not exceeding $5,000.
(2) On payment of such sum of money, no further proceedings shall be taken against such person in respect of the offence.