8. [ Amount of Security. [Substituted by G.S.R. 1505(E), dated 12.12.2017 (w.e.f. 30.12.1983).]
(a) The applicant on being informed by the registering authority under sub-section (2) of section 11 of the Act, shall provide a bank guarantee of eight and half years validity for an amount of fifty lakh rupees as security under sub-section (3) of that section.(b)Provided that any entity desirous of registering as recruiting agent may do so with a reduced security of rupees eight lakh also, such entity shall be permitted to recruit only 100 workers during the period for which registration is granted.(c)Provided further, that in the event of the recruitment of specified number getting completed, before the expiry of the certificate, the holder of the certificate may be permitted by the registering authority, to continue recruitment of additional workers in tranches of 100 workers upto the date of expiry of the certificate, on furnishing additional corresponding security of rupees eight lakh per 100 additional workers.]
