[52A. Compounding of offence. (1) The Market Committee may accept from any person who has committed or is reasonably suspected of having committed an offence (other than contravention of sections 6 and 7) against this Act or the rules or bye-laws made thereunder by way of compounding of such offence-
(a) where the offence consists of the failure to pay or the evasion of any fee or other amount recoverable under this Act or the rule or the bye-laws made thereunder, in addition to the fee or other amount so recoverable, a sum of money being not less than the amount of such fee or other amount and not more than five times such amount of fee or other amount with a minimum of two hundred and fifty rupees; and
(b) in any other case, a sum of money not exceeding one thousand rupees.
[(1A) The Director may accept from any person who has committed or is reasonably suspected of having committed an offence in contravention of section 6 or the rules or bye-laws made thereunder a sum of money not exceeding rupees ten thousand by way of compounding such offence. The amount so accepted shall be credited with the Government Treasury. When an offence has been compounded, the offender, if in the custody, shall be discharged and no further proceedings shall be taken against him in respect of the offence compounded.]
(2) On the compounding of any offence under sub-section (1), no proceeding shall be taken or continued against the person concerned in respect of such offence and if any proceedings in respect of that offence have already been instituted against him in any Court, the compounding shall have the effect of his acquittal.