Section 59Matawalli to convert property and invest money in certain cases

s. 59

59. Matawalli to convert property and invest money in certain cases Every mutawalli, unless there is anything to the contrary in the waqf deed, shall invest, in such manner as may be approved by the Administrator, any of the waqf property which consists of money which cannot be applied immediately or at an early date to the purpose of the waqf and shall, with the sanction of the Administrator, convert any of the waqf property which is of wasting nature and invest the proceeds in such manner as may be approved by the Administrator.