Section 19 — Security deposit

(1)The Director-General may, upon granting a licence, require a licensee to give a performance bond, guarantee or other form of security on the terms and conditions and of the amount that the Director-General considers appropriate —

(a)to ensure that the provisions of this Act and the conditions of the licence will be duly observed; and

(b)to meet any financial penalty arising out of any proceedings under section 20 against the licensee.[Act 11 of 2023 wef 01/05/2023]

(2)If a licensee fails to pay any financial penalty ordered under section 20, the Director-General may enforce the payment by forfeiting the whole or any part of any security deposit placed by the licensee under this section.[Act 11 of 2023 wef 01/05/2023]