S.L. 373.4 Art. 5Administrative settlement.

(1) Without prejudice to any other liability, whether criminal or civil, and to any related proceedings under any other law, a person who acts in contravention of regulation 3(1) may, as an alternative to criminal proceedings, and with the consent of the Attorney General, prior to being charged in court, agree to the payment of an administrative penalty to be imposed by the Unit as follows:

(a) where the sum paid, received, or otherwise transacted in cash amounts to not more than fifty thousand euro (€50,000), an administrative penalty of ten per centum (10%) of the sum paid, received, or otherwise transacted in cash in excess of nine thousand nine hundred ninety nine euro and ninety-nine cents (€9.999.99), or its equivalent in any other currency, shall be imposed:

Provided that such administrative penalty shall not be less than one thousand euro (€1,000); and

(b) where the sum paid, received or otherwise transacted in cash amounts to more than fifty thousand euro (€50,000) but does not exceed one hundred thousand euro (€100,000), an administrative penalty of twenty-five per (25%) of the sum paid, received, or otherwise centum transacted in cash in excess of nine thousand nine hundred ninety nine euro and ninety-nine cents (€9.999.99), or its equivalent in any other currency, shall be imposed.

(2) The administrative settlement referred to in sub-regulation (1) shall not be concluded unless the agreement entered into with the Unit is accompanied by the payment to the Unit of the administrative penalty or the provision of sufficient security for its payment.

(3) Upon payment of the administrative penalty, the offender’s criminal liability under these regulations, in relation to the offence in respect of which the settlement has been entered into, shall be extinguished.

(4) An administrative settlement as stipulated in sub-regulation (1) shall not be entered into by:

(a) any person who pays, receives or otherwise transacts in cash, where the sum of such payment, receipt or transaction exceeds one hundred thousand euro (€100,000); or

(b) any person who has been either found guilty of contravening the provisions of regulation 3, or has entered into an administrative settlement in terms of sub-regulation (1), unless three (3) years have elapsed from the date of such judgement or settlement agreement.