(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.
