The Manager, with the previous assent of the Commissioner, shall have power to raise any money which may be required for the settlement of the debts and liabilities (other than as aforesaid) to which the holder of the property is subject, or with which such property or any part thereof is charged,
by demising by way of mortgage the whole or any part of such property for a term not exceeding twenty years from the said publication,
or by selling, with the previous consent of the holder of the property and of the person (being of full age) who would be his heir if he died intestate, by public auction or by private contract, and upon such terms as the Manager thinks fit, such portion of the same property as may appear expedient.
And no mortgagee advancing money upon any mortgage made under this section, shall be bound to see that such money is wanted, or that no more than is wanted is raised.
Manager’s receipts.--And the receipt of the Manager for any monies paid to him as such, shall discharge the person paying the same therefrom and from being concerned to see to the application thereof. The power to mortgage conferred by this section shall not be exercisable until six months have elapsed from the publication of the order mentioned in section two.