Security for performance of obligations by the licensee

(1) Every person to whom a licence is granted under this Act shall, at the discretion of the Board, make a cash deposit or execute a bond in such sum as may be specified by the Board or provide a guarantor for payment of such sum as may be specified by the Board for the due payment of all winnings, prizes and penalties and for the faithful performance of all his obligations under the gaming licence. (2) Every such bond shall be given with such number of sureties as the Board may require in any particular case. (3) In case the licensee fails to pay any winnings won by a person, or any tax or other sum due from him under the licence, or to perform any other obligation which he may be required to perform, the Board may deduct from the cash deposit (if any) made by such person, or may sue for and recover from that 19 person or his sureties, such sum of money as may be sufficient for the purpose of satisfying the debt or obligation due under the