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(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 the receipt thereof pass final orders, it shall be presumed that he has accorded sanction in respect of that transaction.

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, SBCMA NO.903/2001 - LEELADHAR V/S BHERUBAGH JAIN TIRSTH AND ORS. JUDGMENT DTD. 18.3.2009 likely to be prejudicial to be 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.

he may, after giving the working trustee an opportunity of being heard, direct such working trustee or any other trustee or person having interest, in the trust to apply to the court for directions within such time not exceeding SBCMA NO.903/2001 - LEELADHAR V/S BHERUBAGH JAIN TIRSTH AND ORS. JUDGMENT DTD. 18.3.2009 thirty days as may be specified by the Assistant Commissioner.

(2) If the working trustee or any other trustee or person having interest in the trust so directed fails to make an application as required, or if there is no trustee of the public trust, or if, for any other reason, the Assistant Commissioner considers it expedient to do so, he shall himself make an application to the Court.

39. Application to Commissioner against refusal to apply under Section 38:-(1) Where the Assistant Commissioner rejects an application under sub-section (1) of the Section 38 or fails or refuses to make an application to the court himself under sub-section (2) of that Section, the Commissioner may on an application made to him within ninety days of such rejection, failure or refusal or upon the facts otherwise coming to his knowledge and after giving the working trustee a reasonable opportunity of being heard, set aside the order SBCMA NO.903/2001 - LEELADHAR V/S BHERUBAGH JAIN TIRSTH AND ORS. JUDGMENT DTD. 18.3.2009 of the Assistant Commissioner, if any, and require him to apply to the court himself for directions.