48Validity of things done under this Part

48 Validity of things done under this Part s. 47 (1) Nothing effected by this Part or done or suffered under this Part or the cessation of carrying on business by the Corporation— (a) is to be regarded as placing the Corporation, the State, a Minister or another person in breach of contract or confidence or as otherwise making any of them guilty of a civil wrong; or (b) is to be regarded as placing any of them in breach of or as constituting a default under any Act or other law or any provision in any agreement, arrangement or understanding including, without limiting the generality of the foregoing, any provision prohibiting, restricting or regulating the assignment or transfer of any property or the disclosure of any information; or (c) is to be regarded as fulfilling any condition which allows a person to exercise a right or remedy in respect of or to terminate any agreement or obligation; or (d) releases any surety or other obligee wholly or in part from any obligation. (2) The validity of any act or transaction of the Corporation must not be called in question in any proceedings on the ground that any provision of this Act had not been complied with. Division 4—Staff S. 49