Section 10, The Arbitration Act, 2022

(1) Where an admiralty proceedings is stayed on theground that the dispute in question should be submitted to arbitration, the Court granting the stay may, if in the admiralty proceedings property has been arrested, bailed or other security has been given to prevent or obtain release from arrest, order that - (a) the property arrested be retained as security for the satisfaction of an award given in the arbitration in respect of that dispute; (b) the stay of proceedings be conditional on the provision of equivalent security for the satisfaction of an award. (2) Subject to any other law to the contrary, subsection (1) shall apply in relation to property retained in pursuance of an order as would apply if it were held for the purposes of proceedings in the Court making the order.