Validity of proceedings

(1) No vacancy in the Board or in a Committee of the Board shall vitiate any act or proceedings of the Board or such Committee. (2) No disqualification of or defect in the election or nomination of, any person acting as a member of the Board or as the Vice-Chairman or the Chairman or the person presiding at a meeting shall be deemed to vitiate any act or proceeding of the Board in which such person has taken part.