Companies Act 1967 · s 388

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—(1) Where a corporation is claimant 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 corporation will be unable to pay the costs of the defendant if successful in the defendant’s 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 must be borne by such party to the proceeding as the court may, in its discretion, direct.
Where a corporation is claimant 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 corporation will be unable to pay the costs of the defendant if successful in the defendant’s defence, require sufficient security to be given for those costs and stay all proceedings until the security is given.
The costs of any proceeding before a court under this Act must be borne by such party to the proceeding as the court may, in its discretion, direct.

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s 388Security for costs

(1)

Where a corporation is claimant 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 corporation will be unable to pay the costs of the defendant if successful in the defendant’s defence, require sufficient security to be given for those costs and stay all proceedings until the security is given.

(2)

The costs of any proceeding before a court under this Act must be borne by such party to the proceeding as the court may, in its discretion, direct.