(1) Every manager of the estate of a lunatic appointed as aforesaid may exercise the same powers in the management of the estate as might have been exercised by the proprietor if not a lunatic, and may collect and pay all just claims, debts, and liabilities due to or by the estate of the lunatic :
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Provided that no manager so appointed shall without the permission of the Court-fa) mortgage, charge, or transfer by sale, gift, exchange or otherwise any immoveable property of the lunatic,
(b) lease any such property for a term exceeding five years.
Such permission may be granted subject to any condition or restriction which the Court thinks fit to impose.
(2) Before granting any such permission, the Court may cause notice of the application for such permission to be served on any relative or friend of the lunatic, and may make or cause to be made such inquiries as to the Court may deem necessary in the interests of the lunatic.