Security
Article 4
1. Licences are subject to a security, except in the cases provided for in the Annex. 2. When submitting an application for a licence, the applicant shall lodge a security, which shall be available at the licence issuing authority not later than 13.00 hours Brussels time on the day the application is submitted. 3. No security shall be required where the security comes to a threshold of EUR 100 or less. For that purpose, the amount of the security shall be calculated as comprising all the quantities resulting from obligations covered by the same logistic operation. 4. No security shall be required where the applicant is either: (a) a public body responsible for executing the duties of a public authority; or (b) a private body executing duties referred to in point (a) under a Member State's supervision. 5. The security lodged in respect of a quantity for which a licence has not been issued shall be released forthwith.