South African Council for Educators Act, 2000
R 385
Customs and Excise Act, 1964 (Act No. 91 of 1964)Customs and Excise RulesChapter XII : GeneralRules for Section 120 of the ActSurety bonds |
| 120.08 | Whenever, for purposes of the Act, security is furnished in the form of a surety bond such bond shall be given by an approved banking or insurance institution and shall be in an approved form. |
| 120.09 | Any person whose surety bond has been accepted may give the Controller concerned thirty days, notice of withdrawal of such bond and after the expiry of this period his obligations under the bond will terminate in respect of transactions entered into thereafter. The surety, however, remains liable in respect of transactions entered into prior to the expiry of the period of notice until the Controller has satisfied himself that all obligations under such bond have been fulfilled and he cancels it. |
