Bonded warehouse

(1) If any warehouse of the Authority is approved and appointed under any enactment in relation to customs for the time being in force, the Authority may give general security by bond or otherwise for the payment of the customs duties payable in respect of goods stored in such bonded warehouse or for the due exportation of such goods. (2) When such security has been given by the Authority, no further security shall be required by the Comptroller of Customs from any other persons to the same effect. (3) Nothing in this section shall be taken however to absolve any person who would have been liable to pay duties for paying any such duty as he could be compelled to pay in respect of any such goods. Ports Fiat.