Section 314 — Excise Tax Act: Security

The Minister may, if the Minister considers it advisable in a particular case, accept security in an amount and a form satisfactory to the Minister for payment of any amount that is or may become remittable or payable under this Part. Where a person objects to or appeals from an assessment, the Minister shall accept security, in an amount and a form satisfactory to the Minister, furnished by or on behalf of the person, for the payment of any amount that is in controversy. Where a person who has furnished security, or on whose behalf security has been furnished, under this section requests in writing that the Minister surrender the security or any part thereof, the Minister shall surrender the security to the extent that the value thereof exceeds the amount, at the time the request is received by the Minister, of any tax, net tax, penalty, interest or other amount for the payment of which the security was furnished.