Section 60. Management of public institutions.

(1) The management, control and administration of every public institution maintained out of the municipal fund shall vest in the municipality. (2) When any public institution has been placed under the direction, management and control of the municipality, all property, endowments and funds belonging thereto shall be held by the municipality in trust for the purposes to which such property, endowments and funds were lawfully applicable at the time when the institution was so placed : Provided that the extent of the independent authority of the municipality in respect of any such institution may be prescribed by the Government : Provided further that nothing in this section shall be held to prevent the vesting of any trust property in the treasurer of charitable endowments under 1[the Charitable Endowments Act, 1890 (6 of 1890)].