CHAPTER VRELEASE AND FORFEITURE OF SECURITIES OTHER THAN THOSE REFERRED TO IN CHAPTER IV

Article 22

1.

If the evidence laid down by the specific Union rules is produced within the specified period that all primary requirements have been met, in circumstances where a secondary requirement has been breached, a partial release of the security shall be made and the rest of the sum secured forfeited. The procedure in Article 28 for recovering the sum forfeited shall be followed.

2.

The proportion of the security released shall be: the security covering the relevant part of the sum secured less 15 %, and

(a)

10 % of the sum remaining after deduction of the 15 % for each day by which:

  1. (i)

    a maximum period of 40 days or less has been exceeded;

  2. (ii)

    a minimum period of 40 days or less has not been respected;

(b)

5 % of the sum remaining after deduction of the 15 % for each day by which:

  1. (i)

    a maximum period of between 41 and 80 days has been exceeded;

  2. (ii)

    a minimum period of between 41 and 80 days has not been respected;

(c)

2 % of the sum remaining after deduction of the 15 % for each day by which:

  1. (i)

    a maximum period of 81 days or more has been exceeded;

  2. (ii)

    a minimum period of 81 days or more has not been respected.

3.

This Article shall not apply to periods for either applying for, or using, import and export licences and advance fixing certificates, or to periods relating to the fixing of import and export levies and export refunds by tender.