105. Power to demand monetary deposits from applicants for permits

Where the local authority is empowered to make by-laws prohibiting, restricting or regulating the doing of any act and such by-laws require any person to obtain a permit from a specified authority before the doing of such act, such by-laws may provide for a deposit of such sum, or the execution of a bond with or without sureties in such sum, as may be prescribed in such by-laws, such sum to be refunded or such bond to be void, as the case may be, if the person to whom such permit is granted complies with all the conditions of such permit.