(2)(a)Conditions of sale of fisheries. - Any tender including co-operative societies formed by communities other than members of actual fishermen belonging to Scheduled Castes or members of Maimal Community of the District of Cachar shall, immediately after the acceptance of their tenders furnish in cash, as security a sum equal to twenty five per cent of the revenue of the fishery for the first year of the full term of settlement.(b)Provided that Fishing Co-operative Societies with 100 per cent shareholders from members of actual fishermen belonging to Scheduled Castes of the State or Maimal Community of the District of Cachar and registered under the Assam Co-operative Societies Act, 1949, shall immediately on acceptance of their tenders, be entitled to deposit a sum as cash on security at ten per cent of the revenue of the fisheries settled with them for the first year of the full term of settlement.If any tenderer or tenderers referred to in sub-rules (a) and (b) above fails/fail to furnish the security as laid down above, the fisheries shall be re-sold at his or their risk forthwith and he or they shall be bound to make good the difference between his or their tenders and the amount realised at the subsequent sale; calculated on the whole period of settlement.
