s 12 Security deposit
12.—(1) Before granting or renewing a licence, the Chief Licensing Officer may require an applicant or a licensee (as the case may be) to give to the Chief Licensing Officer a security deposit. (2) The Chief Licensing Officer may determine —(a) the form of the security deposit (such as but not limited to a performance bond or bank guarantee); (b) the manner in which the security deposit is to be given; and (c) the amount of the security deposit. (3) The Chief Licensing Officer may —(a) require the licensee to add to the amount of the security deposit given or to be given, within the time specified by the Chief Licensing Officer; or (b) reduce the amount of security deposit given or to be given by the licensee with effect from the date specified by the Chief Licensing Officer. (4) In determining whether to require a security deposit and the amount of the security deposit, the Chief Licensing Officer must have regard to, and give such weight as the Chief Licensing Officer considers appropriate to, all of the following matters:(a) the track record of an applicant or a licensee in complying with —(i) requirements under any written law (including the repealed Act) applicable to the applicant’s or licensee’s operation of an early childhood development centre; and (ii) any requirement imposed by or under this Act; (b) the likelihood, or the commencement, of proceedings for the taking of regulatory action against a licensee; (c) any other matter as may be prescribed.