All conveyances, leases, mortgages, releases, arrangements, and things which the F2Treasury are authorised by this Act to grant, execute, make, or concur in, and all powers, acts, and things which the F2Treasury are authorised by this Act to exercise, do, or concur in, in relation to any mortgaged property or rate, may be granted, executed, made, concurred in, exercised, and done by F3the Public Works Loans Secretary for the time being under their direction, and when so granted, executed, made, concurred in, exercised, and done by F4the Public Works Loans Secretary, shall be deemed to have been granted, executed, made, concurred in, exercised, and done by him F5under the direction of the Treasury, unless the contrary is shown by some person interested in contesting the validity thereof.

Any property, chose in action, estate, interest, powers, authorities, and privileges vested in or exerciseable by F6the Public Works Loans Secretary in pursuance of this Act shall be dealt with and exercised by him F5under the direction of the Treasury and not otherwise.