Marginal note:Additional security
3.4 (1) Where security has been given to the Minister by a person under a provision of this Act and the Minister or any officer (in this section referred to as a “designated officer”) designated by the President for the purposes of this section determines that the security that has been given is no longer adequate, the Minister or a designated officer may, by notice served personally or by registered or certified mail, require additional security to be given by or on behalf of the person within such reasonable time as may be stipulated in the notice.
Marginal note:Payment where additional security not given
(2) Where the additional security required to be given by or on behalf of a person under subsection (1) is not given within the time it is so required to be given, the amount by which
(a) the amount owing in respect of which security that has been given to the Minister by the person is no longer adequate
exceeds
(b) the value of the security that has been given to the Minister by the person, as determined by the Minister or a designated officer,
is payable by the person immediately.
- 1992, c. 28, s. 2
- 2005, c. 38, s. 62
- Date modified: