New bond to be given in certain cases

Whenever any person bound under a bond required by this Part pays the whole or any part of the sum for which he is bound, or, being a surety, (a) dies; (b) becomes a bankrupt or enters into any arrangement or composition with or for the benefit of his creditors; (c) departs from Belize without leaving sufficient property therein to satisfy the whole amount for which he is bound; (d) is discharged from the bond under section 18 of this Act, the printer or publisher who executed the bond shall not, except for the period of three weeks from the happening of such event, print or publish any newspaper until he has executed and caused to be recorded a new bond in the amount and in manner and with the sureties as described in section 17 of this Act.