(1) If the tribunal has power, under a law of the place of issue, to make an order for costs in the proceeding, the tribunal may, on application by the person served, order that:
(a) the party by whom or on whose behalf the process was served give such security as the tribunal specifies for the first - mentioned person's costs of and incidental to the proceeding; and
(b) the proceeding be stayed until the security is given.
(2) If the tribunal's power to make an order for costs in a proceeding is limited as to amount, an order under paragraph ( 1)(a) that requires security to be given in excess of that amount is ineffective to the extent of the excess.
(3) Subsection ( 1) does not limit the tribunal's power to make an order requiring security for costs.