4Validation of certain actions

4 Validation of certain actions

A person who, before the commencement day, performed or exercised, or purportedly performed or exercised, a trust function or power is taken –

(a) to have validly performed or exercised that trust function or power, if the function or power was performed or exercised in good faith in accordance with the Trust Deed or the Rules of Association, as in force at the time the function was performed or the power was exercised; and

(b) to have held the position required in the Trust Deed, or the Rules of Association, to perform the function or exercise the power while he or she was performing the function or exercising the power.