1245. Admissibility of evidence.

Statements made or documents produced by or on behalf of a person are not inadmissible in specified proceedings1 by reason only that it has been drawn to that person's attention:


    (1)     that where serious tax fraud has been committed, the Commissioners for Revenue and Customs may accept a money settlement, and that the Commissioners will accept such a settlement, and will not pursue a criminal prosecution, if he makes a full confession of all tax irregularities; or