Section 4(4) in Customs (Provisional Duty Assessment) Regulations, 1963.
(4)If the importer pays to the President any penalty and fine that may be adjudged in lieu of confiscation of the said goods for importation of the goods or part thereof without a valid import licence.Then the above written bond shall be void and of no effect otherwise the same shall remain in full force and virtue.AND IT IS HEREBY AGREED AND DECLARED by the importer as follows :-
