Section 80.1 — Excise Tax Act: Security generally

The Minister may, if he considers it advisable in a particular case, accept security for the payment of any tax, penalty, interest or other sum that is or may become payable under this Act. Where a person is making an objection to or appealing from an assessment, the Minister shall accept adequate security furnished by or on behalf of that person for the payment of any tax, penalty, interest or other sum 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, penalty, interest or other sum for the payment of which the security was furnished. The Minister may discharge in writing any security accepted by the Minister pursuant to this section.