Section 6(ii) in New Mangalore Part Trust (Licensing of Stevedores) Regulation 2009
(ii)That his financial standing to meet the obligations to the workers and staff employed on account of wage and compensation under the Workmen's Compensation Act, 1925. Payment of Wages Act, 1936, Industrial Disputes Act 1947, or any other law for the time being in force and makes a deposit of Rs.5.00 Lakhs in cash or any other acceptable security which will be refunded/ discharged after the termination/expiry of the license without any interest.
