(1) A person (}the third party~) having dealings with a person (}the new owner~) who has acquired, or purports to have acquired, title to property from a port authority (whether directly or indirectly) is entitled to make the assumptions mentioned in section 47.

(2) In any proceedings in relation to the dealings, any assertion by the port authority or the new owner that the matters that the third party is entitled to assume were not correct must be disregarded.