¹[2A. Furnishing of security-
(1) When called upon so to do by an order under sub-section (2A) of section 7, a dealer applying for a registration certificate shall, and when called upon so to do by an order under sub-section (3A) of section 7, a dealer holding a registration certificate shall, furnish within such time as has been specified in the order, the security or the additional security as the case may be, for the amount specified in the order (hereinafter referred to in this rule as “amount determined” ) in any one of the forms prescribed in sub-rule (3).
(2) When by reason of an order under sub-section (3D), the security furnished by any dealer is rendered insufficient, he shall make up the deficiency by furnishing security equal to the amount forfeited under the said sub-section (3D), within fifteen days from the date of receipt of the order, in any one of the forms prescribed in sub- rule (3).
(3) Securities for the purpose of sub-rule (1) and (2) may be in any one of the following forms:-
(i) The dealer shall deposit with the Commissioner, the amount determined in cash or transfer to the Commissioner by way of security. Government securities in the form of stock certificates, Government promissory notes, of the market value of not less than the amount determined or the National Savings Certificates, National Planning Certificates, National Plan Savings Certificates, 12 year National Defence Certificates, 10 Years Defence Deposit Certificates or Treasury Saving Deposit Certificates of the face value equal to the amount determined:
(ii) The dealer shall furnish to the Commissioner the guarantee of a Bank, approved by the Government of Maharashtra in this behalf, agreeing to pay to the Commissioner on demand such sum not exceeding the amount determined as the Commissioner may certify as being due under the Act from the dealer;
(iii) The dealer shall furnish two sureties acceptable to the Commissioner each for a sum equal to the amount determined by executing a bond in Form XIII (B).]
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1. Rule 2A and 2B was inserted by GNFD No.STR 1572/3701/72/M-2, dated 31.3.1973 |