(8)No licence for manufacture of explosives other than Liquid Oxygen Explosives shall be granted or renewed to a person for his factory or mine not covered under the Factories Act, 1948 (63 of 1948) or the Mines Act, 1952 (35 of 1957), as the case may be, unless he executes a bond in Form CE-3 indemnifying person injured or dependants of deceased workers in the event of an accident in the factory or mine for an amount of Rs. 10,000 for factories manufacturing up to 15 kilograms of gun powder or fireworks at any one time, an amount of Rs. 25,000 for factories manufacturing up to 200 kilograms. of gun powder or fire works at any one time and Rs. 50,000 in every other case in respect of factory or mines.
