1. Where a bond or recognizance is required from any person the Judge may authorise the acceptance of an instrument executed by any solvent person or corporation (including an Insurance Company) approved by him. Every such bond or recognisance shall recite that the person or corporation executing the same is bound or indebted, as the case may be, to the Judge for the time being within whose circuit the proceedings are.
2. Every bond or recognisance shall be executed in the presence of the Judge, or the County Registrar, or a Commissioner to administer oaths for the High Court, or where the person entering into such bond or recognisance resides outside Ireland, or is for the time being thereout, before any person duly authorised to administer oaths where such person ordinarily resides or is.