(1) A request under Article 38 for measures to secure and preserve any of the debtor’s assets in the State shall be made to the High Court.
(2) On such a request, the High Court -
(a) may grant any such measures that the court has power to grant in proceedings that, apart from the provisions of this Chapter, are within its jurisdiction; and
(b) may refuse to grant the measures sought if, in its opinion, the fact that, apart from this section, the court does not have jurisdiction in relation to the subject matter of the proceedings makes it inexpedient for it to grant the measures.