Section 64(2) in Gujarat Minor Mineral Concession Rules, 2017
(2)The financial assurance shall be submitted by way of a bank guarantee in the format as provided in Form V or a non-interest bearing security deposit. The financial assurance should remain valid:(a)for an initial period of five years and thereafter for subsequent periods of five years or the remaining term of the quarry lease, whichever is lower, in case of minerals specified in Part A-II or Part B of Schedule III; or(b)for the entire duration of the quarry lease term, for minerals specified in Part A-I of Schedule III, as the case may be.
