(1) Every dealer, not being registered under the Act, casual dealer, or any other person, who does not intend to use any way bill form no. obtained by him under rule 111 or rule 112, shall surrender immediately such way bill form no. to the appropriate authority from whom such way bill form no. was obtained by him for cancellation and such appropriate authority shall, thereupon, cancel such form no..

(2) While surrendering such way bill form no. under sub-rule (1), the dealer, not being registered under the Act, casual dealer, or any other person, may, by an application, request the appropriate authority referred to in sub-rule (1) to refund and the amount of security, if any, or release bank guarantee, if any, furnished by him for obtaining such way bill form no..

(3) The appropriate authority referred to in sub-rule (1) shall, within thirty days from the date of application made by dealer, casual dealer, or any other person, under sub-rule (2), refund the amount of security or release the bank guarantee, if any, furnished by such dealer or person.