Alienation of immovable trust property

Civil201889 sections

Statutory text

(1) Notwithstanding anything contained in any law for the time being in force no transfer by exchange, sale or mortgage and no lease for a term exceeding five years of any immovable property belonging to, or given or endowed for the purposes of any religious institution shall be made unless it is sanctioned by the Board as being necessary or beneficial to the institution and such transfer shall be void and inoperative unless the sanction as aforesaid has been accorded prior to the transfer.
(2) In according such sanction, the Board may declare it to be subject to such conditions and directions as it may deem necessary regarding the utilisation of the amount raised by the transaction, the investment thereof and in the case of a mortgage, regarding the discharge of the same within a reasonable period.
(3) A copy of the order made by the Board under this section shall be communicated to the trustee and shall be published in such manner as may be prescribed.
(4) The trustee may within three months from the date of receipt of a copy of the order and any person having interest may, within three months from the date of the publication of the order, prefer an appeal before the Tribunal which may modify the order or set it aside.
(5) The order of the Board made under this section shall, subject to the provisions of sub-section (4), be final.

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