Singapore legislation
Section 18
Section 18
Power to raise money by sale, mortgage, etc.
(1)
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 and are deemed always to have had power to raise the money required by sale, conversion, calling in, or mortgage of all or any part of the trust property for the time being in possession.
(2)
This section applies despite anything to the contrary contained in the instrument (if any) creating the trust, but does not apply to trustees of property held for charitable purposes.