Duties of a receiver require security, accurate bookkeeping, bank deposit of receipts, and periodic submission of accounts. Duties of a receiver require furnishing security as directed, maintaining true and regular accounts including a cash book and numbered counterfoil receipt book, opening a receivership bank account and depositing all receipts promptly, making payments by cheque where practicable, paying amounts as directed by the Tax Recovery Officer, submitting periodic accounts to the Tax Recovery Officer, and being responsible for losses caused by wilful default or gross negligence.