Section 249: Waiver by trustees.

The trustees may if they deem it to be in the interest of the bond holders, unless otherwise directed by a resolution passed by a majority of bond holders at a meeting duly convened for such purpose, validate as they shall deem fit, any breach by a body or any authority acting in that behalf of any covenants and provisions of this part of this Act, but without prejudice to the rights of the trustees in respect of any subsequent breach thereof.