Provided that the Registrar may, by general or special order, permit the trustee of any public trust or class of such public trust to invest the money in any other manner.

Previous sanction of Registrar, in cases of sale, etc., of property belonging to a public trust

1. (1) Subject to the directions in the instrument of trust or any direction given under this or any other law by any court—
   • (a) no sale, mortgage, exchange of gift of any immovable property; and
   • (b) no lease for a period exceeding seven years in the case of agricultural land or for a period exceeding three years in the case of non-agricultural land or building; belonging to a public trust, shall be valid without the previous sanction of the Registrar.
2. (2) The Registrar shall not refuse his sanction in respect of any transaction specified in sub-section
3. (1) unless such transation will, in his opinion, be prejudicial to the interests of the public trust.