: (1) The security deposit of a candidate who gets less than ten percent of the total votes cast in the election will be forfeited. However, this arrangement will not be applicable in the case of candidates who have received less than ten percent of the votes (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the bond held by other candidates and persons whose nomination papers have not been accepted or whose name has been withdrawn shall be withdrawn by the concerned person within ninety days from the date of the announcement of such election results.
(3) If the bond is not withdrawn within the period specified in sub-section (2), the amount of such bond shall be deposited in the reserve fund.