34.—(1) The Registrar, or the Commissioner of Police or any police officer authorised in writing by the Commissioner of Police, may, in his discretion, compound any offence under this Act which is prescribed as an offence which may be compounded by the Registrar, the Commissioner of Police or such police officer by collecting from a person reasonably suspected of having committed the offence a sum not exceeding —
(a)
one half of the amount of the maximum fine that is prescribed for the offence; or
(b)
$5,000,
whichever is the lower.
(2) On payment of such sum of money, no further proceedings shall be taken against that person in respect of the offence.
(3) The Minister may make rules to prescribe the offences which may be compounded under this section and the conditions subject to which, and the manner in which, such offences may be compounded.