Section 47. Stay of proceedings on occupant giving security to bring suit against applicant.

Whenever on an application being made under section 41 the occupant binds himself, with two sureties, in a bond for such amount as the Small Cause Court thinks reasonable, having regard to the value of the property and the probable costs of the suit next hereinafter mentioned, to institute without delay a suit in the High Court against the applicant for compensation for trespass and to pay all the costs of such suit in case he does not prosecute the same or in case judgment therein is given for the applicant, the Small Cause Court shall stay the proceedings on such application until such suit is disposed of. If the occupant obtains a decree in any such suit against the applicant, such decree shall supersede the order (if any) made under section 43. Nothing contained in section 22 shall apply to suits under this section.