When the whole of the goods covered by any bond executed under 3 [section 59 4 ***] have been cleared for home consumption or exported or 8 [transferred or] are otherwise duly accounted for, and when all amounts due on account of such goods have been paid, the proper officer shall cancel the bond as discharged in full, and shall on demand deliver it, so cancelled, to the person who has executed or is entitled to receive it.
9 [73A. Custody and removal of warehoused goods.—(1) All warehoused goods shall remain in the custody of the person who has been granted a licence under section 57 or section 58 or section 58A until they are cleared for home consumption or are transferred to another warehouse or are exported or removed as otherwise provided under this Act.
(2) The responsibilities of the person referred to in sub-section (1) who has custody of the warehoused goods shall be such as may be prescribed.
(3) Where any warehoused goods are removed in contravention of section 71, the licensee shall be liable to pay duty, interest, fine and penalties without prejudice to any other action that may be taken against him under this Act or any other law for the time being in force.]
1. Subs. by Act 28 of 2016, s. 134, for ―re-exportation‖ (w.e.f. 14-5-2016).
2. Clause (c) omitted by s. 135, ibid. (w.e.f. 14-5-2016).
3. Subs. by Act 55 of 1991, s. 9, for ―section 59‖ (w.e.f. 23-12-1991).
4. The words, figures and letter ―or section 59A‖ omitted by Act 32 of 1994, s. 60 (w.e.f. 13-5-1994).
5. Subs. by Act 28 of 2016, s. 135, for ―exportation‖ (w.e.f. 14-5-2016).
6. Subs. by s. 135, ibid., for ―all penalties, rent, interest and other charges‖ (w.e.f. 14-5-2016).
7. Subs. by s. 135, ibid., for ―select‖ (w.e.f. 14-5-2016).
8. Ins. by s. 136, ibid. (w.e.f. 14-5-2016).
9. Ins. by s. 137, ibid. (w.e.f. 14-5-2016).
61
CHAPTER X DRAWBACK