Timber Regulations, 1993

15 (1) Subject to subsection (2), every operator shall provide a security deposit to the Minister with each tender to ensure due performance of the agreement by the operator.

(2) The amount of the security deposit, that is determined by the Minister in the agreement, shall be not less than 10% of the tender price.

(3) The Minister shall apply the security deposit provided pursuant to subsection (1) to the tender price of the agreement.