3. Application of proceeds of sale
The proceeds of sale of the said lands shall be applied by the said Trustees after payment of all expenses of and incidental to any sale in the purchase of other lands in fee simple in the local government district of Perth or elsewhere in Western Australia and so far as such moneys may extend in the erection of buildings and other improvements upon such last mentioned lands and all lands so purchased by the said Trustees as last aforesaid shall be held by them upon and subject to the trusts and uses declared by the said Indenture of 10 May 1872.
[Section 3 amended by No. 14 of 1996 s. 4.]