Bank may require security
13. (1) Before making any order which it is empowered to make under this Act, the Bank may require the person in whose favour the order is to be made to execute a security bond with one or more sureties in the prescribed form or to furnish security not exceeding twice the value of the subject-matter of the order, to be held at the disposal of the Bank, to pay to the Bank or any person, to whom the Bank may assign the security bond or the security in furtherance of sub-section (2), the amount thereof.
(2) A Court before which a claim in respect of the subject-matter of any such order is established may order the security bond or the security to be assigned to the successful claimant who shall thereupon be entitled to enforce the security bond or realise the security to the extent of such claim.
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Ministry of Law, Justice and Parliamentary Affairs