Bond to be given by printer and publisher

(1) No person shall print or publish in Belize any newspaper unless he has previously executed and caused to be recorded in the General Registry a bond with one or more 16 sureties as may be required and approved by the Registrar General in the sum of two thousand dollars in respect of each newspaper printed or published by him conditioned on the payment to the Government by the printer, publisher, or proprietor of the newspaper of all forfeitures, fines, penalties, damages and costs which may be imposed upon or adjudged against the printer, publisher, and proprietor of any of them, whether in criminal or civil proceedings, in respect of any libel of any kind printed or published in such newspaper at any time after the execution of the bond, or on any conviction under the provisions of this Part for anything done or omitted after the execution of the bond. (2) Without prejudice to any rights of a surety under a bond required by this Part against the person for whom he is surety, a surety shall under the bond executed by him be deemed a principal debtor and not merely a surety, and accordingly shall not be discharged, nor shall his liability be affected by any giving of time for payment or by any omission to enforce the bond or by any other act or omission or means whereby the liability of the surety would not have been discharged if he had been a principal debtor.