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76.—(1) The powers conferred on the High Court by sections 77(1) and 78(1) below are exercisable where–
(a)proceedings have been instituted against the defendant in a designated country;
(b)the proceedings have not been concluded; and
(c)either an external confiscation order has been made in the proceedings or it appears to the High Court that there are reasonable grounds for thinking that such an order may be made in them.
(2) Those powers are also exercisable where it appears to the High Court that proceedings are to be instituted against the defendant in a designated country and that there are reasonable grounds for thinking that an external confiscation order may be made in them.
(4) Where the court has made an order under section 77(1) or 78(1) below by virtue of subsection (2) above, the court shall discharge the order if the proposed proceedings are not instituted within such time as the court considers reasonable.
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