2 In these Regulations,
beer means beer or malt liquor as defined in section 4 of the Excise Act; (bière)
excise warehouse has the same meaning as in section 2 of the Excise Act, 2001; (entrepôt d’accise)
intoxicating liquor has the same meaning as in the Importation of Intoxicating Liquors Act; (boisson enivrante)
licence means a licence to operate a place as a duty free shop; (agrément)
permanent resident has the same meaning as in the Immigration Act, 1976. (résident permanent)
6 (1) Subject to subsection (2), a licence is valid for a period beginning on the date indicated on the licence as being the date on which the licence becomes effective and ending on the date indicated on the licence as being the date on which the licence expires.
(3) The security given under subsection (1) shall be deposited with the chief officer of customs and shall be in the form of
(d) a bond issued by
(i) a company that is registered and holds a certificate of registry to carry on the fidelity or surety class of insurance business and that is approved by the President of the Treasury Board as a company whose bonds may be accepted by the Government of Canada,
(iv) a credit union as defined in subsection 137(6) of the Income Tax Act, or
(5) A person is qualified to operate a duty free shop at an airport or at a border crossing point if the person has been granted a lease or other right to occupy the place proposed as the duty free shop.
(6) The Minister shall not issue a licence to an applicant unless
(c) the applicant has sufficient financial resources to enable him to lease or purchase the place proposed to be operated as a duty free shop;