Section 48. Defects in appointment of Directors not to invalidate acts etc

(1) No act or proceeding of the Board or of any committee of the corporation shall be questioned on the ground merely of the existence of any vacancy in, or defect in the constitution of the Board or committee or on the ground of any director or member of any committee having acted or taken part in any proceeding in contravention of section 16. (2) No act done by any person acting in good faith as a director of the Board or as a member of a committee of the corporation shall be deemed to be invalid merely on the ground that he was disqualified to be a director or that there was any other defect in his appointment.