69. Furnishing of security under the provisions of the Act and these Rules.
- Every dealer or person who is required under any of the provisions of the Act or these Rules to furnish a security, shall furnish it in any of the following forms or partly in one form and partly in another, as specified or directed in the order of furnishing of security:-(i)in cash, which shall be paid in accordance with rule 42; or(ii)by depositing, with the officer concerned, savings certificates issued by the Government of India of a face value not less than the amount of security required to be furnished, duly endorsed in favour of the Commissioner or the officer concerned; or(iii)by furnishing to the officer concerned a guarantee from a bank having its head office or a branch in this State, agreeing to pay to the State Government or any of its officer, on demand the amount of security fixed by the officer concerned; or(iv)by executing a bond in form ST 32, with necessary modifications where necessary, with two sureties acceptable to the officer concerned.
