(3)If the Government approved the opening of a bonded warehouse within a manufactory, Excise Commissioner shall issue necessary sanction under S.15 of the Act and inform the applicant and the collector of the District in which the warehouse is to be opened. He shall also inform the applicant the amount of security to be furnished by him/her for the due performance of the conditions on which a license may be granted to him. The amount of security deposit may be fixed at fifty percent of the Bonded warehouse licence fee or more according to the volume of business.
