40Preservation of rights possessed by national servicemen

40 Preservation of rights possessed by national servicemen

(1) A right to commence any action, suit or other proceeding, or to enforce, exercise or pursue any right, power or remedy, which, whether before or after the commencement of this Division, was or is possessed by a national serviceman or by a person who, after he became or becomes possessed of the right, became or becomes a national serviceman, is not barred by the expiration, during the prescribed period, of any period of limitation fixed by any law (whether of the Commonwealth, a State or a Territory) in force in Australia or any part of Australia, or by any agreement, mortgage or instrument with respect to any such right, and the action, suit or other proceeding may be commenced, or the right, power or remedy may be enforced, exercised or pursued, at any time before the expiration of the prescribed period. (2) In this section, the prescribed period means the period during which the national serviceman is or was rendering national service, together with:

(a) the period immediately following the date on which he completed or completes that service equal to the period of that service; or

(b) the period of twelve months immediately following that date;

whichever is the shorter.