no, sale, exchange or gift of any immovable property or of movable property exceeding five thousand rupees in value, and

no lease, for a period exceeding five years in the case of agricultural land or for a period exceeding three years in the case of non-agricultural land or a building, belonging to a public trust shall be valid without the previous sanction of the Assistant Commissioner.

(2)

An application for the sanction of the Assistant Commissioner under Sub-section (1) shall be made in the prescribed manner and form.

(3)

Where, on an application duly made for sanction in respect of any transaction specified in Sub-section (1), the Assistant Commissioner does not, within two months of

Provided that the application describes the transaction with sufficient accuracy.

(4)

The Assistant Commissioner shall not refuse to accord sanction in respect of any transaction specified in Sub-section (1) unless such transaction is, in his opinion, likely to be prejudicial to the interests of the public trust, and no order refusing to accord sanction shall be passed unless the working trustee of such public trust has had a reasonable opportunity of being heard.