ACT 125

COMPANIES ACT 1965 (REVISED - 1973)

PART XII - GENERAL

DIVISION 1 - ENFORCEMENT OF ACT

Section 351. Security for costs.

(1) Where a company is plaintiff in any action or other legal proceeding the court having jurisdiction in the matter may, if it appears by credible testimony that there is reason to believe that the company will be unable to pay the costs of the defendant if successful in his defence, require sufficient security to be given for those costs and stay all proceedings until the security is given. Costs (2) The costs of any proceeding before a court under this Act shall be borne by such party to the proceeding as the court may, in its discretion, direct.