(1) An act or decision of the board is not invalid merely because of—
(a) a vacancy in its membership, including a vacancy arising from the failure to appoint a director; or
(b) a defect or irregularity in, or in connection with, the appointment of a director.
(2) Anything done by or in relation to a person purporting to act as a director of the Authority is not invalid merely because—
(a) the occasion for the appointment had not arisen; or
(b) there was a defect or irregularity in, or in connection with, the appointment; or
(c) the appointment had ceased to have effect; or
(d) the occasion for the person to act had ceased.