43. The board may require a person applying for a race track licence for a new race track or for a race track already existing but at which no race has been held during the twelve months preceding such application, to furnish it with security, as proof of the merits and seriousness of his application, in such amount as the board may fix, taking into account the value of the planned or the existing installations, as the case may be, of such race track. Such security is remitted to the person who furnished it as soon as the board has disposed of his application.
The board may also require a person applying for a race track licence to pay, where applicable, the cost of the publication of the notice mentioned in section 38.