No licence shall be granted unless and until the applicant therefore has-(a)deposited a sum of [eighty lakh rupees] [Substituted by Punjab Notification No. G.S.R. 17/P.A.1./1914/Ss. 21 and 59/Amd. (31)/2018, dated 22.3.2018 (w.e.f. 21.10.1962).] in cash as license fee; and(aa)deposited as security in cash or in National Savings Certificates for the fulfilment of all the conditions of his licence a sum of be fixed by the [Excise Commissioner] [Legislative Supplement Part III dated 26.10.71] which shall not be less than Rs. 20,000/- or more then Rs. 50,000/- in amount [or given a bank guarantee of Scheduled Bank as security for an amount equivalent to the aforesaid sum for the aforesaid purpose] [Legislative Supplement Part III dated 13.3.79.](b)satisfied the [Excise Commissioner] [Legislative Supplement Part III dated 26.10.1971.] that the proposed buildings, plant and apparatus to be used in connection with the business of brewing, storage issue of beer are built in accordance with the prescribed regulations and due precaution has been taken against fire.
