(1) Notwithstanding section 50(2), if the Central Bank reasonably believes that a person has committed an offence under this Act or the Regulations, the Central Bank may issue to the person a notice, in the prescribed form informing the person of the option to discharge any liability to conviction in respect of the offence by payment of a fixed penalty of $10 000 within 10 working days from the date of receipt of the notice.
(2) A person is not liable to conviction for an offence if he or she pays the fixed penalty in accordance with subsection (1).
(3) If a person opts to pay a fixed penalty under this Act or the Regulations, the person shall pay the fixed penalty to the Accountant General within the period set out in the notice referred to in subsection (1).
(4) Where the person under subsection (1) is a credit bureau and it fails to comply with subsection (3), the Central Bank may revoke the licence of the credit bureau in accordance with section 15.
(5) In any proceedings in which the Accountant General issues a certificate indicating that a person paid, or did not pay, to the Accountant General the fixed penalty by the date specified, the certificate shall, in the absence of evidence to the contrary, be sufficient proof of the facts stated in the certificate.
(6) The Minister on the recommendation of the Central Bank may, by Order published in the Gazette, amend the fixed penalty set out under subsection (1).
(7) An Order made under subsection (6) is subject to negative resolution of Parliament.