(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;
(2)
The Registrar shall not refuse his sanction in respect of any transaction specified in sub-section (1) unless such transaction will, in his opinion, be prejudicial to the interests of the public trust.