155. Trustees' statutory powers to mortgage in other cases.

In the case of trusts to which the Trusts of Land and Appointment of Trustees Act 1996 does not apply1, where trustees are authorised by the instrument, if any, creating the trust, or by law, to pay or apply capital money subject to the trust for any purpose or in any manner, they have power to raise the money by mortgage of all or any part of the trust property for the time being in possession