(1) Where a person has given security in pursuance of section 601 (2), and the Court is satisfied that he or she failed to surrender to custody, then unless it appears that he or she had reasonable cause for his or her failure or there are other mitigating circumstances, the Court may order the forfeiture of the security.
(2) Where the Court orders the forfeiture of a security under subsection (1), the Court may declare that the forfeiture extends to such amount less than the full value of the security as it thinks fit to order.
(3) An order made under subsection (1) shall, unless previously revoked, take effect at the end of 21 days beginning with the day on which it is made.
(4) The Court which ordered the forfeiture of a security under subsection (1) may, if satisfied on an application made by the defendant or a surety that—
(a) the defendant did after all have reasonable cause for his or her failure to surrender to custody; or
(b) there are other mitigating circumstances, which should be considered;
remit the forfeiture or declare that the forfeiture extends to such amount less than the full value of the security as it thinks fit to order.
(5) An application made under subsection (4) may be made before or after the order for forfeiture has taken effect, but shall not be entertained unless the Court is satisfied that the prosecution was given reasonable notice of the applicant's intention to make it.
(6) A security that has been ordered to be forfeited by the Court under subsection (1) shall, to the extent of the forfeiture—
(a) if it consists of money, be accounted for and paid in the same manner as a fine imposed by the Court would be;
(b) if it does not consist of money, be enforced by the District Court in the manner specified in the order.
(7) Where an order is made under subsection (4) after an order for forfeiture of the security in question has taken effect, any money forfeited shall be paid over to the person who gave the security.