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Jurisdiction of the High Court.
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5.—(1) For the purposes of this Act and the Convention the High Court shall have jurisdiction to hear and determine in admiralty proceedings in rem any of the claims mentioned in Article 1 (1) of the Convention.
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(2) For the purposes of the application of the Convention to the State—
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(a) the expression “the Court or other appropriate judicial authority” where it occurs in the Convention means the High Court, and
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(b) “Courts” in Article 7 (1) means the High Court.
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(3) Nothing in subsection (1) of this section shall deprive the High Court of any jurisdiction to hear and determine a claim connected with ships exercisable by the High Court otherwise than by virtue of this section.
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(4) Where the High Court stays, declines or dismisses proceedings referred to in subsection (1) of this section on the ground that the dispute in question should be submitted to arbitration or be determined by the courts of another country the court may order that the ship arrested or, where bail or other security has been given to obtain release from arrest, the said bail or security, be retained for the purposes of satisfying (in part or in whole) any award or judgment which—
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(a) is given in respect of the dispute in the arbitration or in the legal proceedings in the other country, and
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(b) is enforceable in the State.
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(5) Where the court makes an order under subsection (4) of this section it may attach such conditions to the order as it thinks fit, in particular conditions with respect to the institution or prosecution of the relevant arbitration or legal proceedings.
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(6) Subject to any provision made by rules of court and to any necessary modifications, the same law and practice shall apply in relation to a ship, or bail or other security, which has been retained in pursuance of an order made by the court under subsection (4) of this section, as would apply if it were held for the purposes of proceedings in that court.
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