4. Power to sell investments or to borrow on security of investments to discharge liability to the Bank

    If the net proceeds realised by the sale of the said land are not sufficient to repay in full to the Bank the advances and interest owing and payable by the Trustees as aforesaid the Trustees shall be and are hereby authorised to do all or any of the following things, namely:

    (a) to sell the said chattels, and the investments for the time being representing the said money or so many of the said chattels or of the said investments as may be necessary; and

    (b) to pay, use and apply the net proceeds of any such sale in or towards the repayment to the Bank of any balance of the said advances and interest thereon still owing and unpaid after the payment to the Bank of the net proceeds of the sale of the said land in reduction of the said indebtedness of the Trustees to the Bank;

    (c) in lieu of selling the investments for the time being representing the said money, to borrow on the security of the said investments a sum of money sufficient for the repayment to the Bank of any balance of the said advances and interest thereon still owing and unpaid to the Bank after the payment to the Bank of the net proceeds of the sale of the said land in reduction of the said indebtedness of the Trustees to the Bank and to pay, use and apply the sum of money so borrowed for the repayment to the Bank of the said balance of advances and interest.



Note: This is not an authorised version. The only authorised version is the hardcopy (printed) version published under authority of the Government Printer, available from the State Law Publisher, 10 William St Perth W.A. 6000.