(1) The custodian trustees and the persons who were nominated by Geelong Grammar and appointed to be trustees and special trustees as recited in the preamble to this Act and all other persons who have at any time before the commencement of this Act acted as trustees or special trustees shall be deemed to have been duly appointed.
(2) All acts of the persons referred to in sub-section (1) done before the commencement of this Act which purported to have been done in exercise of the powers and functions of custodian trustees, trustees or special trustees shall be deemed to have been acts done in the due and proper exercise of those powers and functions and shall not be called in question or challenged in any proceeding in any court whatsoever.