Security from certain classes of dealers and other persons Rules 22 to 25

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..... for the proper realisation of tax, composition money or other dues payable under this Act or as a condition of registering a person as a dealer or as a condition of making a refund under section 38 of this Act 2 [or as a condition of de-sealing or release under sub-section (4) of section 60 ,], require a person or prescribed class or persons to furnish security for the proper performance of th .....

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..... a person is in the form of a surety bond and the surety dies or becomes insolvent, the person shall within one month of the occurrence of such event, inform the Commissioner and shall within three months of such occurrence, execute a fresh surety bond. (4) Where the surety bond has been executed by another registered dealer and the dealer's registration is either cancelled or he has closed down .....

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..... ner may as a condition of (a) registering a person as dealer; (b) making a refund under section 38of this Act; require a person or prescribed class of persons to furnish security for the proper performance of their responsibilities under this Act or under the CST Act, 1956 (74 of 1956) in the prescribed amount, in the prescribed manner and within such time as may be prescribed . .....

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