5. (1) The Official Receiver shall not act as receiver in respect of any property except in accordance with the provisions of this Act and of rules made thereunder. (2) Notwithstanding anything contained in any other law, the Official Receiver-(a) shall not be required by the Court to enter into any bond or security, and(b) shall always be a sole receiver, and it shall not be lawful to appoint him to be a receiver in respect of any property jointly with any other person.