(1)Before the licence to work the distillery is granted by the Collector, the distiller shall give a security of Rs. 5,000 in cash or Government Promissory Notes for the due observance of the conditions of the licence :Provided that in the case of a distiller who is required to pay the fee under the proviso to Rule 55, the amount of security shall be Rs. 250, or such other higher sum as may be fixed by the Excise Commissioner.(2)The distiller shall also execute a bond in the prescribed form pledging the distillery premises, stills, all apparatus and utensils employed in the manufacture of spirit and the stock-in-trade for the due discharge of all payments which may become due to the Administration :Provided that in lieu of so pledging the distillery premises the distiller may deposit Government Promissory Notes of such value as the Excise Commissioner may direct, and execute an indemnity bond of a value fixed by the Excise Commissioner.
