Customs Regulatins - BONDS AND SECURITIES
Any person or persons beneficially interested in any matter within the management or control of the Department, may be required to give security by bond or otherwise, to the satisfaction of the Direction-General for the due performance of any condition, order, or matter relative to the Department or incident thereto. all such bonds or other securities shall be valid in law and upon breach of any of the conditions thereof may be sued and proceeded upon in the same manner as any bonds expressly directed by or given under the provisions of this Act or any other Law. All such bonds shall be taken to and for the use of His Majesty's Government, and may be cancelled by the Director- General after the expiration of two years from the date thereof or from the time, if any, limited therein for the performance of the conditions thereof.
Link to Source:
http://www.datsyn.com/article/255/2012/02/20/Customs-Regulatins-BONDS-AND-SECURITIES
