Section 118: Execution of bond
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
118. Execution of bond
(1) Every broker and agent shall subscribe and execute a bond with
2 sureties for the proper compliance by such broker and agent, and their customs clerks, with the customs laws.
(2) In the case of brokers, the bond shall be in the sum of 250,000 rupees.
(3) In the case of freight forwarding agents, the bond shall be in the sum
of not less than one million rupees.
(4) The Director-General may, at all times, call for the renewal of a bond
for any valid reason, including the replacement of sureties who have ceased
to be acceptable as sureties.
[S. 118 amended by s. 5 (h) of Act 28 of 2004 w.e.f. 1 March 2006.]