(1) In lieu, in whole or in part, of the deposit of money, the depositors may deposit an equivalent sum of either -
(a) any stocks, funds, or securities in which cash or money under the control or subject to the order of the High Court may for the time being be invested, or
(b) any nominal or inscribed stock issued by the council or corporation or any municipal borough within the State having a population exceeding fifty thousand according to the returns of the last census of population taken in such borough prior to the date on which such stock is deposited,
the value of such stocks, funds, or securities or of such nominal or inscribed stock being taken at a price as near as may be to the current market price but not exceeding the highest stock exchange quotation within seven days prior to the day on which such deposit is made.
(2) Whenever depositors, in lieu in whole or in part of a deposit of money, deposit such stocks, funds, or securities or such nominal or inscribed stock, the w
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