(5)When any public institution has been placed under the direction, management and control of the Municipality, all properties, endowment and funds belonging thereto, shall be held by the Municipality in trust for the purpose to which such properties, endowments and funds were lawfully applicable at the time when the institution was so placed :Provided that the extent of the independent authority of the Municipality in respect of any such institution may be such, as may be prescribed :Provided further that nothing in this section shall be held to prevent the vesting of any trust property in the Treasurer of the Charitable Endowments under the Charitable Endowment Act, 1890 (Act 6 of 1890).
