Paragraph 69.5 Security
(1)
The court may direct that before a receiver begins to act or within a specified time he must either—
(a)
give such security as the court may determine; or
(b)
file and serve on all parties to the proceedings evidence that he already has in force sufficient security,
to cover his liability for his acts and omissions as a receiver.
(2)
The court may terminate the appointment of the receiver if he fails to—
(a)
give the security; or
(b)
satisfy the court as to the security he has in force,
by the date specified.