262Pending proceedings etc. by or against the NCSC

#### 262 Pending proceedings etc. by or against the NCSC (1) Where, immediately before the commencement, co‑operative scheme proceedings to which the NCSC was a party were pending in any court or tribunal, the Commission 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 (being a right of action arising under a relevant previous law of this jurisdiction) is, after the commencement, taken to be a right of action in favour of or against the Commission. (3) In this section: > co‑operative scheme proceedings means proceedings arising under a relevant previous law of this jurisdiction, including proceedings relating to trust assets of the NCSC.