(1) The Management of every aided school shall maintain in the prescribed form a proper record of its property and such record shall be kept for inspection at the time of regular schools inspection.
(2) No aided school shall transfer any property if, by such transfer, any of the facilities referred to in the proviso to sub-section (1) of section 5 is likely to be prejudicially affected.
(3) Notwithstanding anything contained in any other law for the time being in force, no transfer, mortgage or lease of any movable or immovable property of an aided school, not being the property specified in rules, shall be made except with the previous permission of the appropriate authority:
Provided that where the appropriate authority omits or fails to dispose of the application for such permission within sixty days from the date or receipt of the application in this behalf the permission shall, on the expiry of the said period of sixty days, be deemed to have been granted.
(4) Any transaction made in contravention of the provisions of sub-section (3), shall be void.