7.
| (1) Where an action in rem has been instituted under this Act, and the judge is satisfied that the vessel or property to which the action relates will be removed out of the jurisdiction of the Court before the plaintiff's claim is satisfied, it shall be lawful for that judge to issue, in accordance with the rules made under this Act, a warrant for the arrest and detention of that vessel or property: |
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| (2) Where any vessel or property has been arrested and detained in pursuance of a warrant issued under subsection (1), the judge may, on an application by the defendant or any other person who has entered an appearance, in the action relating to such vessel or property, make order re-leasing such vessel or property if such defendant or other person
| | (a) pays into court, the amount claimed in such action or an amount equal to the appraised value of the vessel or property which has been arrested or detained ; or | | |
| | (b) gives bail, guarantee or other security, to the satisfaction of the plaintiff to the action, for the payment of such amount. | | |
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| (3) Where any property arrested in pursuance of a war rant issued under subsection (1) is subject to speedy decay, the Court may, on an application made in that behalf by the Marshal, direct that such property be sold and the proceeds deposited in Court, pending the determination of the action. |
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| (4) The judge may, having regard to all the circumstances of the case, reduce or increase the amount of any bail, guarantee or other security ordered under subsection (1) or subsection (2). |
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Sri Lanka Consolidated Acts