New South Wales Consolidated Acts(cf State Owned Corporations Act 1989 , section 20ZA)
(1) The objects of this Division include:(a) providing that the doctrine of ultra vires does not apply to the Corporation, and(b) ensuring that the Corporation gives effect to any restrictions on its objects or powers, but without affecting the validity of its dealings with outsiders.
(2) This Division is to be construed and have effect accordingly.