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statute, a sole trustee is authorised to execute the trusts and powers reposed in him, may, if and as he or they think fit---

(a) accept any property, before the time at which

it is made transferable or payable; or

(b) sever and apportion any blended trust funds

or property; or

(c) pay or allow any debt or claim on any evid- ence that he or they think sufficient; or (d) accept any composition or any security, for

any debt, or for any property, claimed; or (e) allow any time for payment of any debt; or (f) compromise, compound, abandon, submit to arbitration or otherwise settle any debt, ac- count claim or thing whatever relating to the testator's or intestate's estate or to the trust;

and for any of those purposes may enter into, give, execute and do such agreements, instruments of com- position or arrangement, releases, and other things as to him or them seem expedient, without being res- ponsible for any loss occasioned by any act or thing so done by him or them in good faith.

17.—(1) A trustee of any leaseholds for lives or Powers of years which are renewable from time to time either trustees of under any covenant or contract, or by custom or usual renewable

leaseholds to practice, may, if he thinks fit, and shall, if thereto

renew and required by any person having any beneficial interest, raise money present or future, or contingent, in the leaseholds, for the use his best endeavours to obtain from time to time purpose. a renewed lease of the same hereditaments on the Vict. s. 53,

56 & 57 accustomed and reasonable terms, and for that pur- s. 19. pose may from time to time make or concur in making a surrender of the lease for the time being subsisting, and do all such other acts as are requisite; provided that, where by the terms of the settlement or will the person in possession for his life or other limited interest is entitled to enjoy the same without any obligation to renew or to contribute to the expense of renewal, this section shall not apply unless the con- sent in writing of that person is obtained to the renewal on the part of the trustee.

(2) If money is required to pay for the renewal, the trustee affecting the renewal may pay the same out of any money then in his bands in trust for the per- sons beneficially interested in the lands to be com- prised in the renewal lease, and if he has not in his hands sufficient money for the purpose he may raise the money required by mortgage of the hereditaments to be comprised in the renewed lease, or of any other hereditaments for the time being subject to the uses or trusts to which those hereditaments are subject. and no person advancing money upon a mortgage pur- porting to be under this power shall be bound to see that the money is wanted, or that no more is raised than is wanted for the purpose, or otherwise as to the application thereof.

(3) This section applies to trusts created either be- fore or after the commencement of this Ordinance, but nothing in this section shall authorise any trustce to do anything which he is in express terms forbidden to do, or to omit to do anything which he is in express terms directed to do, by the instrument creating the trust.

&c.

18. (1) Where trustees are authorised by the in- Power to strument, if any, creating the trust or by law to pay raise money or apply capital money subject to the trust for any by sale, purpose or in any manner, they shall have and shall mortgage, be deemed always to have had power to raise the 15 Geo. 5, money required by sale, conversion, calling in, or c. 19, s. 16. mortgage of all or any part of the trust property for the time being in possession.

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