Where war damage occurs to—
(a)settled land; or
(b)land which by virtue of section twenty-nine of the [15 & 16 Geo. 5. c. 18.] Settled Land Act, 1925 (which relates to certain land vested or to be vested in trustees for charitable, ecclesiastical or public trusts or purposes) is deemed to be settled land; or
(c)land held on trust for sale; or
(d)land belonging to a university or college to which the [15 & 16 Geo. 5. c. 24.] Universities and College Estates Act, 1925, applies;
the making good of the damage may be defrayed out of capital moneys, and accordingly shall, notwithstanding the provisions of any instrument, be deemed to be an improvement authorised by Part I of the Third Schedule to the Settled Land Act, 1925, or Part I of the First Schedule to the Universities and College Estates Act, 1925, as the case may be.