Any Forest Officer of a rank not inferior to that of a Forest Ranger who, or whose subordinate, has seized any tools, boats, vehicles or cattle1[under section 62 may, subject to section 71G release] the same on,2[production of a Bank guarantee equal to the value as estimated by such officer (which shall be renewable from time to time till the final disposal of the criminal proceedings instituted in respect of the alleged offence) and on] the execution by the owner thereof of a bond for the production of the property so released if and when so required before the magistrate having jurisdiction to try the offence on account of which the seizure had been made.
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1. Substituted by Act 1 of 1981 w.e.f. 23.2.1981.
2. Inserted by Act 12 of 1998 w.e.f. 11.5.1998.