Attachment of property before award or order

If the Registrar is satisfied on an application, report or enquiry that any person with intent to delay or obstruct the enforcement of any order, decision or award that may be made against him under the provisions of this Regulation – (a) is about to dispose of the whole or any part of the property; or (b) is about to remove the whole or any part of the property from the jurisdiction of the Registrar, the arbitrator or the liquidator, as the case may be, he may, unless adequate security is furnished, by order, direct attachment of the said property ; and such attachment shall have the same effect as if made by a competent civil court. All funds in charge of the liquidator shall be deposited with such institutions or person as the Registrar may approve.