(1) Candidates who get less than ten percent of the total votes cast in the election will have their bond forfeited. But this will not apply to elected candidates.
(2) Except in the case of confiscation of the bond according to sub-section (1), the bond held by other candidates and persons whose nomination paper has not been accepted or whose name has been withdrawn shall be withdrawn by the concerned person within ninety days from the date of the declaration of such election result.
(3) If the bond is not withdrawn within the period specified in sub-section (2), the amount of such bond shall be deposited in the reserve fund.