In section 107 of the 1977 Act (costs and expenses), for subsection (4) there is substituted—

“(4)

The comptroller may make an order for security for costs or expenses against any party to proceedings before him under this Act if—

(a)

the prescribed conditions are met, and

(b)

he is satisfied that it is just to make the order, having regard to all the circumstances of the case;

and in default of the required security being given the comptroller may treat the reference, application or notice in question as abandoned.”