Dec. 22.] THE NEW ZEALAND GAZETTE. 3567

(2) Every person to whom a general license is issued shall, subject to any modification of these conditions made under Regulation 7 hereof,—

(i) Within six days after the Collector has granted a certificate of clearance for any ship carrying goods shipped by such person, deliver to the Collector of Customs at the port of shipment full particulars of all goods exported from New Zealand, by the licensee in such ship under the authority of the license, including the name of the branch or office in New Zealand of the bank doing business in New Zealand, to which the shipping documents or drafts relative to such goods are to be delivered; and

(ii) Forthwith upon or before the exportation of any such goods, and on obtaining any shipping documents or drafts relative to such goods, deliver the same to a branch or office in New Zealand, named by him in his application, of a bank doing business in New Zealand; and

(iii) Upon the sale of the goods comprised in the license and immediately on receipt of any proceeds of such sale in the place where the same are sold, whether such proceeds be received by the applicant or by any other person on his behalf, pay such proceeds, or cause the same to be paid, to the bank referred to in Regulation 6 hereof, to be remitted to New Zealand at the current rate of exchange at the time of such payment to the remitting bank; and

(iv) Upon the sale of any goods exported from New Zealand by the applicant prior to the issue of the license and sold in any place after the issue, and whether before or after the expiration of the license, immediately on receipt of any proceeds of such sale in the place where the same are sold, whether such proceeds be received by the applicant or by any other person on his behalf, pay such proceeds, or cause the same to be paid, to the bank referred to in Regulation 6 hereof, to be remitted to New Zealand in like manner as aforesaid; and

(v) Deliver to the remitting bank, together with such proceeds as aforesaid, an account sales showing particulars of the sale of the goods sold and setting out the net proceeds thereof.

(3) A general license may at any time be revoked by the Minister by notice in writing under his hand delivered to the Comptroller of Customs, who shall forthwith notify the Collector of Customs at each of the ports to which the license refers. Notice of revocation shall forthwith be given to the licensee, but such revocation shall, nevertheless, take effect irrespective of such notice immediately on delivery of the instrument of revocation to the Comptroller of Customs.

5. SECURITY FOR UNDERTAKING.

(1) Prior to the issue of a general license or a particular license the applicant shall, if in any case the licensing officer so requires, give such security for compliance with the requirements of Regulation 4 hereof as the licensing officer may require.

(2) Unless in any special case some other security is accepted as sufficient by the licensing officer, the security hereinbefore referred to shall be a bond executed in favour of His Majesty the King by the applicant and two sureties, to be approved by the licensing officer, conditioned for the observance of the requirements of Regulation 4 hereof, and may be in the form numbered 3 in the Schedule hereto.

(3) Any bond required in the case of a particular license shall, unless the licensing officer otherwise decides, be for a sum of double the estimated value of the goods at the place and time of export.

(4) In the case of a general license such bond shall be for such sum as the licensing officer may consider reasonable.

6. REMITTING BANK.

(1) If the goods comprised in the license are to be sold in any State of the Commonwealth of Australia, the bank to which the proceeds of sale thereof are to be paid shall be the principal branch or office in the capital city of that State of the bank named as that to which the shipping documents relative to the goods are to be delivered, or its correspondent in such city.