2   Purpose for which Funds may be used

The King George V Memorial Fund and the King George VI Memorial Fund may, notwithstanding any trusts affecting the same, be utilised or applied for the purpose of erecting a joint memorial to Their Late Majesties King George V and King George VI. Such memorial shall be:

(a)  in the form of a stone wall and memorial gates and ancillary works associated therewith according to designs approved by the Premier and the Council of the City of Sydney, and

(b)  located in the Sandringham Memorial Gardens situated in Hyde Park in the City of Sydney.