(1)A person who enters into a transaction with a regional development agency shall not be concerned to see or enquire—
(a)whether there has been any failure by the agency to observe its purposes, or
(b)whether the transaction would contravene any direction given by the Secretary of State.
(2)A transaction entered into by a regional development agency shall not be invalidated merely because the agency—
(a)failed to observe its purposes, or
(b)carried out the transaction in contravention of any direction given by the Secretary of State.