(1) The Government may, by notification empower a Tree Officer or any Forest Officer not below the rank of Deputy Conservator of Forest
(a) to compound any offence committed under this Act on payment of-
(i) a sum not exceeding rupees ten thousand by way of composition for the offence which such person is suspected to have committed; and
(ii) the value of timber and other produce, if any, from the tree in respect of which the offence has been committed;
(b) to release any property seized or liable to confiscation, on payment of the value thereof as estimated by such officer and the amount determined 'as payable for composition of the offence, as of ordered by the Tree Officer or any Forest Officer, as the case may be.
(2) On the payment of such sums or such value or both, as the case may be, to such officer, the property seized and the offender, if in custody, shall be released and no further proceeding shall be taken against such offender or property.