Receiver by way of equitable execution
1. In every case in which an application is made for the appointment of a receiver by way of equitable execution the Judge, in determining whether it is just or convenient that such appointment should be made, shall have regard to the amount of the judgment held by the applicant, to the amount which may probably be obtained by the receiver, and to the probable costs and expenses of and incidental to his appointment, and may direct any inquiries on these or other matters before making the appointment. The order shall be made upon such terms as to costs and otherwise as the Judge may direct, including the entry into security by the receiver in appropriate cases.
2. The order may be made on an ex parte application. The affidavit in support thereof shall conform to the requirements of Rule 1 of the last preceding Order, save that it shall suffice for the plaintiff to show that he has reason to believe that a sum of money, but not necessarily a debt, is held by or about to be paid by some other person to or on behalf of the judgment debtor, and that the said judgment debtor has a beneficial interest therein.
3. Where an order is made by the Court appointing a receiver by way of equitable execution the order shall be absolute, subject to the right of the judgment debtor, or other person affected thereby, to apply to the Court to discharge the said order, and on such application the Judge may vary or discharge the said order as he thinks right.
4. An order appointing a receiver by way of equitable execution may be limited to a single sum, or may cover several sums, or a series of continuing periodical payments in which the judgment debtor is beneficially interested.