(1) If the Authority is satisfied that an offence under section 17(4), (5) or (5B), 18B, 21(1), 21(3), 41(5) or 42(5) has been committed, it may, on payment of a prescribed fine by the alleged offender
(a) cause any proceedings in respect of the alleged offence to be waived or discontinued; and
(b) if the alleged offence involved the unlawful harvesting of timber or the unlawful clearance and conversion of a threatened native vegetation community, allow the alleged offender or another person specified by the Authority to retain the whole or any part of that timber or, as the case may be, the whole or any part of the threatened native vegetation from that community.
(2) For the purposes of this section, the Authority is to establish and maintain a fund.
(3) Prescribed fines are to be paid into the fund and are, for the purposes of section 44(2), taken to be at the disposal of the Authority.
(4) In this section prescribed fine means a fine of
(a) such amount as the Authority determines is equal, or approximately equal, to twice the amount required to make good the damage done or any loss incurred by the commission of the relevant offence; or
(b) if the relevant offence is of a particularly serious kind or it will not be possible or practicable to make good the damage done or any loss incurred by the commission of the relevant offence, such amount as the Authority determines will constitute an appropriate sanction and deterrent in the circumstances.