Customs Act 1901
The Comptroller-General of Customs may, by notice in writing served on a person making an application for a broker ' s licence or a person who holds a broker ' s licence, require that person to give, within the time specified in the notice, security in an amount determined by the Comptroller-General of Customs, not being an amount exceeding the amount prescribed in respect of the prescribed class of applicants or customs brokers to which the person belongs, by bond, guarantee or cash deposit, or by any or all of those methods, for compliance by him or her with the Customs Acts, for compliance with the conditions or requirements to which the importation or exportation of goods is subject and generally for the protection of the revenue and that person is not entitled to be granted or to hold a broker ' s licence, as the case may be, unless he or she gives security accordingly.
Where the amount of the security in force in respect of a customs broker is less than the amount prescribed in respect of the prescribed class of customs brokers to which the customs broker belongs, the Comptroller-General of Customs may, by notice in writing to the customs broker, require the customs broker to give, within such period as is specified in the notice, a fresh security in lieu of the security in force under subsection (1) in an amount specified in the notice, being an amount not exceeding the amount so prescribed, and, if the customs broker fails to comply with the notice, the customs broker shall not be entitled to hold a broker ' s licence.
Where, by virtue of subsection (1), an applicant for a broker ' s licence is not entitled to be granted the licence, the Comptroller-General of Customs may refuse to grant the licence to the applicant.
Where, by virtue of subsection (1) or (2), a customs broker is not entitled to hold a broker ' s licence, the Comptroller-General of Customs may cancel the broker ' s licence held by the customs broker.
Regulations made for the purposes of this section may prescribe different amounts in respect of different classes of applicants or customs brokers and, without limiting the generality of the foregoing, may prescribe different amounts in respect of applicants who are natural persons and applicants that are partnerships or companies and in respect of customs brokers who are natural persons and corporate customs brokers.
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