(1) Sections 39 and 40 (company's capacity and power of directors to bind company) do not apply to the acts of a company that is a charity except in favour of a person who -
(a) does not know at the time the act is done that the company is a charity, or
(b) gives full consideration in money or money's worth in relation to the act in question and does not know (as the case may be) -
(i) that the act is not permitted by the company's constitution, or
(ii) that the act is beyond the powers of the directors.
(2) Where a company that is a charity purports to transfer or grant an interest in property, the fact that (as the case may be) -
(a) the act was not permitted by the company's constitution, or
(b) the directors in connection with the act exceeded any limitation on their powers under the company's constitution,
does not affect the title of a person who subsequently acquires the property or any interest in it for full consideration without actual notice of any such circumstances affecti
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