Undervalued goods

(1) If, notwithstanding the provisions of this Act, upon the examination of any goods entered for duty, which are chargeable with duty upon the values thereof, it appears to the Comptroller that such goods are not valued according to their true value, or that they are properly chargeable with a higher rate or amount of duty than that to which they would be subject, according to the value described in the entry, and after the goods have been examined by two competent persons to be nominated or appointed by the Comptroller, and declared by them on oath if required to be invoiced below the real and true value thereof, it shall be lawful for such officer to detain them, in which case he shall forthwith give notice in writing to the person entering the same of the detention of such goods. (2) The Comptroller shall, within seven days after the detention of such goods, determine either to deliver such goods on the entry of such person, or to retain them for the use of the Crown, in which latter case he or they shall cause the value at which the goods were so entered and the duties already paid on such entry to be paid to the person entering them in full satisfaction for such goods, or may permit such person on his application for that purpose to amend such entry at such value and upon such terms as he may direct. (3) If the Comptroller retains such goods, he shall dispose of them by sale or otherwise for the benefit of the Crown, and if the proceeds arising therefrom in case of sale exceed the sum so paid and all charges incurred by the Crown, they shall be carried to account as duties of customs.