(1) Where any promoter or person has committed an offence under sub-section (1) of Section 26 or Section 28, the authorized officer may, on admission by such promoter or person in writing and upon his option to compound at any time prior to the commencement of the court proceedings relating thereto, compound such offence and order the promoter or person to pay such sum of money 696 as specified by the authorized officer, provided it does not exceed the amount of the fine prescribed for the offence in addition to any tax and interest due.
(2) Furnishing of a cheque or any other instrument towards payment of a sum by any such promoter shall be deemed to be an application for compounding the offence.
(3) Where the authorized officer compounds an offence under this Section, the order referred to in sub-section (1),
(a) shall be in writing and specify the offence committed, the sum of money to be paid and the due date for the payment;
(b) shall be served on the promoter or person who committed the offence;
(c) shall be final and not subject to any appeal; and
(d) may be enforced in the same manner as a decree of a court for the payment of the amount stated in the order.
(4) When the authorized officer compounds an offence under this Section, the promoter or person concerned shall not be liable to prosecution in respect of such offence or to any further penalty under this Section and such promoter or person shall not appeal against the said proceedings.