(1) Where the registering authority, by order, requires any Assessee/Proprietorto deposit a security under section 7, it shall be deposited within a week from the date on which such order is served upon the Assessee/Proprietor.
(2) Such security may, subject to satisfaction of the Registration Authority, be furnished by the Assessee/Proprietor, in any one of the following ways, namely-
(a) by depositing such amount in cash, in a Government Treasury; or >kj[k.M xtV ¼vlk/kkj.k½] 'kfuokj 13 tqykbZ] 2013 26
(b) by depositing such amount into the different schemes of the Post Office and pledging the such Certificates of deposit and depositing the same with the said authority; or
(c) by furnishing to the said authority a guarantee from a Nationalized Bank approved in this behalf by the said authority, agreeing to pay to the State Government, on demand the amount of security fixed by the said authority.
Provided such security shall also be furnished once in every five years.
(3) At any time, the said authority may to his satisfaction, increase or reduce the amount of security furnished in this behalf.