Acts and proceedings presumed to be valid not-withstanding any defect

(1) No act or proceeding of the Corporation shall be questioned or be invalid on the ground merely of the existence of any vacancy in, or any defect in, the constitution of the Corporation. (2) No act done by any person acting in good faith as a director 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 nomination.