161. (1) The sum of $50, in legal tender or in the bills of any chartered bank doing business in Canada, or a cheque for such sum drawn upon and accepted by any such bank, shall be deposited in the hands of the returning officer at the time the nomination paper is filed with him.
(2) The receipt of the returning officer shall, in every case, be sufficient evidence of the production of the nomination paper, of the consent of the candidate and of the deposit hereinabove mentioned.
(3) The sum so deposited by any candidate shall not be liable to seizure, and shall be returned to him in the event of his being elected or of his obtaining a number of votes at least equal to one-third the number of votes polled in favour of the candidate elected; otherwise, except in the case provided for by section 169, it shall belong to the municipality; and the sums so paid and not returned, as hereinabove provided, shall be applied by the returning officer towards the payment of the election expenses.