(c)The whole or any part of the amount of the security which is not forfeited under the provisions of this order, shall, on application being made for that purpose, be refused to the licensee on the termination of his licence. No application for such refund shall be entertained after one year from the date of termination of the licence and the security, in whole or in part, as the case may be, shall be forfeited to the State Government.
