Section 53: Restriction on purchase of property on behalf of waqf.

53. Restriction on purchase of property on behalf of [waqf].---Notwithstanding anything contained in a[waqf] deed, no immovable property shall be purchased for or on behalf of any [waqf] from the funds of any [waqf] except with prior sanction of the Board, and the Board shall not accord such sanction unless it considers that the acquisition of such property is necessary or beneficial to the [waqf] and that the price proposed to be paid therefor is adequate and reasonable:

Provided that before such sanction is accorded, the particulars relating to the proposed transaction shall be published in the Official Gazette inviting objections and suggestions with respect thereto and, the Board shall, after considering the objections and suggestions that may be received by it from mutawallis or other persons interested in the [waqf], make such orders as it may think fit.