24.-(1) The security to be given by the administrator may be in the form of a bond with one or more sureties approved by the District Court. (Form 18.)
(2) Where the security is not in the form of a bond, a memorandum shall be drawn up setting forth the conditions on which the security is given.
(3) The obligation in the bond or memorandum shall be to the Registrar of the District Court, and the bond or memorandum shall be signed by the person or persons undertaking the obligation.
(4) The security shall be enforceable at the District Court’s direction. Such Court may also, upon cause shown, at any time direct that the security be increased or lessened.