Financial Sector (Collection of Data) Act 2001
22What happens if penalty is paid
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22 What happens if penalty is paid
(1) This section applies if: (a) an infringement notice is served on a person; and (b) the person has done the act the failure to do which constituted the offence or offences and pays the penalty specified in the notice before the end of the period referred to in paragraph 20(1)(e); and (c) the infringement notice is not withdrawn. (2) Any liability of the person for the offence or offences specified in the notice, and for any other offence or offences constituted by the same omission, is taken to be discharged. (3) Further proceedings cannot be taken against the person for the offence or offences specified in the notice and proceedings cannot be taken against the person for any other offence or offences constituted by the same omission. (4) The person is not regarded as having been convicted of the offence or offences specified in the notice.