(1) Where the Minister is satisfied that any building materials, articles or equipment, for which a permit has been granted under this Act, are no longer required for the purpose of the tourism project on which the permit was based, the Minister may in writing authorise the holder of the permit to dispose of any such building materials or articles in such manner and upon such conditions as the Minister may think fit.
(2) Materials, articles or equipment shall not be disposed of under subsection (1) within 3 years from their day of purchase unless the holder of the permit has—
(a) paid to the Comptroller of Customs; or
(b) given security to the satisfaction of the Comptroller of Customs that he or she will pay,
all customs duties or refunds given under sections 17 and 18 applicable to the goods to be disposed of.