Financial Sector Reform (New South Wales) Act 1999
37Continuation and preservation of civil proceedings involving FINCOM
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37 Continuation and preservation of civil proceedings involving FINCOM
37 Continuation and preservation of civil proceedings involving FINCOM
(1) For the purposes of a proceeding commenced before the transfer date to which FINCOM was a party immediately before that date, the State is substituted for FINCOM as a party to the proceeding.
(2) For the purposes of a proceeding not commenced before the transfer date and which could, if commenced after that date, be brought against FINCOM, or but for the commencement of section 17 (2), could have been brought against FINCOM, the proceeding may instead be brought against the State.
(3) For the purposes of this section, evidence that would have been admissible for or against FINCOM is admissible for or against the State.
(4) This section does not apply to a proceedings for an offence.