(1) Candidates who get less than ten percent of the total votes cast in any election under the first-come, first-served election system will have their bond forfeited. But this will not apply to elected candidates.
(2) If a party does not get at least one seat in the election under the proportional election system, the bond held by such party will be forfeited.
(3) Except in the case of confiscation of the bond according to sub-section (1) or (2), the bond held by other candidates and persons whose nomination papers have not been accepted or whose names have been withdrawn shall be withdrawn by the concerned person or party within three months from the date of the announcement of the election results.
(4) If the bond is not withdrawn within the period specified in sub-section (3), the amount of the bond shall be deposited in the Federal Reserve Fund.