PART VIIIMiscellaneous.
66Extension of borrowing powers of trustees, and c.
1
The provision of air-raid shelter shall be deemed to be an improvement authorised by the [15 & 16 Geo. 5. c. 18.] Settled Land Act, 1925, and mentioned in Part II of the Third Schedule to that Act.
2
Any liquidator, trustee in bankruptcy, receiver, committee or other person acting in a fiduciary capacity who is, as such, the occupier of any factory premises, the owner of any mine or the owner of any commercial building or of any building or block of buildings to which section thirty of this Act applies shall, for the purpose of providing air-raid shelter or complying with any obligation imposed on him by or under any of the provisions of this Act, have power (in addition to any other powers enabling him in that behalf)—
a
to utilize any moneys in his hands in his capacity as liquidator, trustee, receiver, committee or otherwise as aforesaid;
b
to raise money by the sale or mortgage of any property vested in him or under his control in that capacity,
and any money reasonably expended by him for the said purpose shall be treated as part of his expenses incurred in that capacity and shall be allowed in account accordingly.
3
Where the owner of any commercial building or any such building or block of buildings as aforesaid is a mortgagee, he shall be entitled to add to his security any money reasonably expended by him for the purpose of providing air-raid shelter in connection with the building or block or of complying with any obligation imposed on him by or under this Act as owner of the building or block.