(1) on or before the time his petition for review is filed has filed within the district court a bond in a sum fixed by the district court not exceeding double the amount of the portion of the deficiency in respect of which the petition for review is filed, and with surety approved by the district court, conditioned upon the payment of the deficiency as finally determined, together with any interest, additional amounts, or additions to the tax provided for by law, or
(2) has filed a jeopardy bond under this Part or the Virgin Islands income tax law.
If as a result of a waiver of the restrictions on the assessment and collection of a deficiency any part of the amount determined by the district court is paid after the filing of the review bond, such bond shall, at the request of the taxpayer, be proportionately reduced.