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(1)The Public Authorities Protection Act, 1893, and section twenty-one of the Limitation Act, 1939, shall not apply to any action, prosecution or proceeding against a development corporation, or for or in respect of any act, neglect or default done or committed by a servant or agent of any such corporation in his capacity as such.
(2)In their application to any such action as aforesaid, sections two and three of the Limitation Act, 1939 (which relate to the limitation of actions of contract and tort, and certain other actions), shall have effect with the substitution for references therein to six years of references to three years.
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