Property Law Act 1958

By virtue of any writ of fieri facias, warrant of seizure and sale or other like process to be sued out of the Court the sheriff or other officer having the execution thereof may and shall seize and take any money or bank notes and any cheques bills of exchange promissory notes bonds specialties or other securities for money belonging to the person against whose lands and effects such process is sued out and may and shall pay and deliver to the party suing out such execution any money or bank notes which are so seized or a sufficient part thereof; and may and shall hold any such cheques bills of exchange promissory notes bonds specialties or other securities for money as a security or securities for the amount by such process directed to be levied or so much thereof as has not been otherwise levied and raised; and may sue in the name of such sheriff or other officer for the recovery of the sum or sums secured thereby if and when the time of payment thereof has arrived.

The payment to such sheriff or other officer by the party liable on any such cheque bill of exchange promissory note bond specialty or other security with or without suit or the recovery and levying execution against the party so liable shall discharge him to the extent of such payment or of such recovery and levy in execution as the case may be from his liability on any such cheque bill of exchange promissory note bond specialty or other security.

Such sheriff or other officer may and shall pay over to the party suing out such process the money so to be recovered or such part thereof as is sufficient to discharge the amount by such process directed to be levied; and if after satisfaction of the amount so to be levied together with sheriff's poundage fees and expenses any surplus remains in the hands of such sheriff or other officer, the same shall be paid to the party against whom such process is so issued:

Provided that no such sheriff or other officer shall be bound to sue any party liable upon any such cheque bill of exchange promissory note bond specialty or other security unless the party suing out such execution enters into a bond with two sufficient sureties for indemnifying him from all costs and expenses to be incurred in the prosecution of such action or to which he may become liable in consequence thereof the expenses of such bond to be deducted out of any money to be recovered in such action.

No. 3754 s. 220.