Vacancy, defect in appointment, etc. not to invalidate acts and proceeding

No act or proceeding of the Board under this Act shall be questioned on the ground merely of the existence of any vacancy in, or, defect in the appointment of a member or the constitution of the Board. Provided that the Board shall not act or take any proceedings, at any time when, by reason of any vacancy occurring, the number of continuing non-official members is less than one-third of the total number of such non-official members in the Board. The Board will grant Loan, subsidy, etc. to individuals and registered institution within the budget provision of various schemes.