7Caveats against arrest

7 Caveats against arrest

(1) A caveat against the arrest of a ship or other property must be in accordance with Form 2 and may be filed in a registry of the Federal Court. (2) The caveat must not be filed unless the Registrar is satisfied (whether because of an undertaking endorsed on the caveat or for other sufficient reason) that the caveator will, in any proceeding of a kind specified in the caveat that is commenced as an action in rem against the ship or property: (a) enter an appearance; and (b) comply with rule 9. (3) The undertaking must be in accordance with Form 3. (4) Without limiting the power of the Registrar under subrule (2), the Registrar may be satisfied for the purposes of that subrule if there is produced to the Registrar an undertaking in writing to satisfy any judgment for the amount specified in the caveat, being an undertaking given by: (a) a protection and indemnity association that is a member of the International Group of Protection and Indemnity Associations; or (b) an authorised deposit‑taking institution. (5) The Federal Court may set aside a caveat against the arrest of a ship or other property.