53. Security for release of goods, vehicle or documents.
- A dealer required to furnish the security under sub-clause (b) of sub-section (5) of section 68 shall deposit Government Securities in the form of Stock Certificates or Government Promissory Notes of a market value not less than the sum determined by the Commissioner or National Savings Certificates, National Plan Certificates, National Plan Saving Certificates, Bank guarantee as acceptable to the Commissioner or Treasury Savings Deposit Certificates of a face value not less than the said sum, duly endorsed in favour of the Commissioner or furnish to the Commissioner the guarantee of a bank approved by the Government, agreeing to pay the Commissioner on demand not less than the sum determined by the Commissioner.
