Northern Territory Consolidated Acts Northern Territory Consolidated Acts18. Lodgement of bond
(1) A commercial agent or a private bailiff shall ensure that at all times during the currency of his licence there is lodged with the Commissioner a bond in full force and effect in the prescribed form, accompanied by the prescribed security.
(2) Notwithstanding subsection (1), an employee of a commercial agent or of a private bailiff or, where the commercial agent or the private bailiff is a corporation, a manager referred to in section 17E(1)(a), shall not be required to lodge a bond or security with the Commissioner in accordance with subsection (1).
(3) An agent who ceases to be an employee or a manager shall not act as a commercial agent or a private bailiff unless he complies with subsection (1).
(4) Where a commercial agent or private bailiff has not lodged with the Commissioner a bond in the prescribed form accompanied by the prescribed security or, a bond lodged by the commercial agent or private bailiff is not in full force and effect, he shall, for the purposes of this Act, be deemed not to be licensed for such period as a bond or security is not lodged or the bond is not in full force and effect.