(a)Each applicant for grant of a licence under this order shall, within a week of the demand and before issue of the licence, furnish a security of Rs. 1,000 in the case of Coal Agent, Rs. 200 in the case of Coal Depot Holder and Rs. 300 in the case of brick kiln run with coal in the form of fixed deposit in a Scheduled Bank duly pledged to the District Magistrate concerned, for the compliance of the provisions of this order and performance of the terms and conditions of the licence.(b)The licence shall, if the amount of security at any time falls short of the amount specified in the foregoing sub-clause, forthwith deposit the amount to make up the deficiency in the amount of security on being required to do so by the Licensing Authority.(c)The whole or any part of the amount of the security which is not forfeited under the provisions of this order, shall, on application being made for that purpose, be refused to the licensee on the termination of his licence. No application for such refund shall be entertained after one year from the date of termination of the licence and the security, in whole or in part, as the case may be, shall be forfeited to the State Government.
