Temporary Importation (Excise Levies and Additional Duties) Regulations

6 (1) Where relief from the payment of duties is granted pursuant to paragraph 3(a), security shall be given, in an amount fixed by the Minister in accordance with subsection 106(1) of the Act, to an officer

• (a) at the place where the goods are to be released, if the goods are not covered by a carnet; and

• (b) at the place where the goods were released, if the goods are covered by a carnet and not exported by the date of expiration of the carnet.

(2) The security referred to in subsection (1) shall be in the form of

• (a) cash;

• (b) a certified cheque;

• (c) a transferable bond issued by the Government of Canada; or

• (d) a bond issued by

  • (i) an entity that is licensed or otherwise authorized under the laws of Canada or of a province to carry on the fidelity or surety class of insurance business and that is recommended to the Treasury Board by the Office of the Superintendent of Financial Institutions as an entity whose bonds may be accepted by the Government of Canada,

  • (ii) a member of the Canadian Payments Association referred to in section 4 of the Canadian Payments Association Act,

  • (iii) a corporation that accepts deposits insured by the Canada Deposit Insurance Corporation or the Régie de l’assurance-dépôts du Québec to the maximums permitted by the statutes under which those institutions were established,

  • (iv) a credit union, as defined in subsection 137(6) of the Income Tax Act, or

  • (v) a corporation that accepts deposits from the public, if repayment of the deposits is guaranteed by Her Majesty in right of a province.

(3) [Repealed, SOR/96-43, s. 1]