The second school pool (location #428) was in poor condition, with cracks and leaks due to the unsatisfactory construction methods and subsidence due to swelling clay. It was decided to build a new pool and the Bannockburn area was canvased to raise funds.

The second school pool was demolished.

The school committee continued to raise funds with bottle drives, a stock drive, and a raffle. Work began on the new pool which was constructed on-ground rather than in-ground to avoid any ground swelling. The floor was poured on a base on compacted fill. The concrete was reinforced with H R C mesh and had the correct crack control joints formed. The walls were of reinforced concrete slabs which were poured on the floor then lifted into position. All joints were properly formed and sealed. The new pool was fitted with a filtration plant.

On 24 Feb, the new school pool was opened by a former teacher Mr Jarratt. The ribbon was cut by the oldest ex-pupil present who was Miss F Short. The total cost of the third pool was $2652.43.

The school pool is now fenced and has a shower and changing rooms nearby. It forms a major part of what is now the Bannockburn School Camp.