Capital money arising under the Settled Land Act, 1925 . . . . . . may be applied—
in payment as for an improvement authorised by the Act of any money expended and costs incurred by a landlord under or in pursuance of this Part of this Act in or about the execution of any improvement;
in payment of any sum due to a tenant under this Part of this Act in respect of compensation for an improvement . . . and any costs, charges, and expenses incidental thereto;
in payment of the costs, charges, and expenses of opposing any proposal by a tenant to execute an improvement.
The satisfaction of a claim for such compensation as aforesaid shall be included amongst the purposes for which a tenant for life, statutory owner . . . may raise money under section seventy-one of the Settled Land Act, 1925.