Acts not to be invalidated by vacancy, in formality etc.

No act or proceeding of the Board or a Committee appointed by the Board shall be invalid merely on the ground of—

(a) any vacancy of a Chairman or a member or any defect in the constitution or reconstitution of the Board or a committee thereof; or

(b) any defect or irregularity in the appointment of a person as a Chairman or member of the Board or of a committee thereof; or

(c) any defect or irregularity in such act or proceeding, not affecting the substance.