(1) The Listing Authority shall not be under any duty to verify any information contained in a copy of a statement referred to in subsection (1) of section 10 that is furnished to it under subsection (3) of that section.

(2) The Listing Authority shall not be liable in damages -

(a) for the manner in which it exercises its discretion in performing any of its functions under section 12, or

(b) in relation to any other of its functions under this Act, in respect of anything done or omitted to be done by it in the performance of that function,

unless the exercise of that discretion was carried out, or the act or omission concerned was done or made, in bad faith.