(2)The distiller shall also execute a bond in the prescribed form pledging the distillery premises, stills, all apparatus and utensils employed in the manufacture of spirit and the stock-in-trade for the due discharge of all payments which may become due to the Administration :Provided that in lieu of so pledging the distillery premises the distiller may deposit Government Promissory Notes of such value as the Excise Commissioner may direct, and execute an indemnity bond of a value fixed by the Excise Commissioner.
