Charitable Endowments Act : Limitation of functions and powers of Treasurer Indian Bare Acts :

Charitable Endowments Act,1890

Act No : 6

Section : Limitation of functions and powers of Treasurer

10. Limitation of functions and powers of Treasurer.- (1) ATreasurer of Charitable Endowments shall always be a sole trustee, andshall not, as such Treasurer, take or, hold any property otherwisethan under the provisions of this Act, or subject to those provisions,transfer any property vested in him except in obedience to a decreedivesting him of the property, or in compliance with a direction inthat behalf issuing from the authority by whose order the propertybecame vested in him.--------------------------1 A new sub-section (3), applicable only to Bengal, has been addedby the Bengal Wakf Act, 1934 (Ben. 13 of 1934), s. 80.2 Subs. by the A. O. 1937, for "L. G.".57(2) Such a direction may require the Treasurer to sell or otherwisedispose of any property vested in him, and, with the sanction of theauthority issuing the direction, to invest the proceeds of the sale orother disposal of the property in any such security for money as is1*[specified in the direction], or in the purchase of immovableproperty. (3) When a Treasurer of Charitable Endowments is divested, by adirection of 2*[the appropriate Government] under this section, of anyproperty, it shall vest in the person or persons acting in theadministration thereof and be held by him or them on the same trustsas those on which it was held by such Treasurer.