Substitution of new section for section 59- Warehousing bond

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..... resented under section 46 and assessed to duty under section 17 or section 18 shall execute a bond in a sum equal to thrice the amount of the duty assessed on such goods, binding himself (a) to comply with all the provisions of the Act and the rules and regulations made thereunder in respect of such goods; (b) to pay, on or before the date specified in the notice of demand, all duties and interest .....

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..... be in force notwithstanding the transfer of the goods to another warehouse. (5) Where the whole of the goods or any part thereof are transferred to another person, the transferee shall execute a bond in the manner specified in sub-section (1) or sub-section (2) and furnish security as specified under sub-section (3). . - Clause 123 of the Bill seeks to substitute a new section for section 59 of th .....

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