(1) Where, on an application under rule 10(6), an order is made declaring the security to be insufficient and the objection is allowed, the petitioner may, within a time not exceeding 10 days as may be ordered by the judge before whom the application is heard, remove the objection by depositing with the Court a sum of money as the judge directs for the purpose of making the security sufficient.
(2) Where the petitioner does not remove the objection by deposit of the sum of money so directed to be deposited within the period fixed by the order of the judge, no further proceedings shall be taken on the election petition and the election petition is deemed to be dismissed.