259Pending proceedings

#### 259 Pending proceedings (1) Subject to this Law, where, immediately before the commencement, proceedings to which the NCSC was a party (not being co‑operative scheme proceedings) were pending in any court or tribunal of this jurisdiction, the Commonwealth is, after the commencement, substituted for the NCSC as a party to the proceedings and has the same rights in the proceedings as the NCSC had. (2) A right of action in favour of or against the NCSC existing immediately before the commencement (not being a right of action arising under a co‑operative scheme law) is, after the commencement, taken to be a right of action in favour of or against the Commonwealth. (3) In this section: > co‑operative scheme law means a relevant previous law of this or any other jurisdiction. > co‑operative scheme proceedings means proceedings arising under a co‑operative scheme law, including proceedings relating to trust assets of the NCSC.