sec.50Continuation and preservation of civil proceedings involving QOFS

sec.50 Continuation and preservation of civil proceedings involving QOFS

For a proceeding started before the transfer date to which QOFS was a party immediately before the date, the State is substituted for QOFS as a party to the proceeding. For a proceeding not started before the transfer date and that could if started after the date be brought against QOFS, or apart from the commencement of section 17 and the dissolution of QOFS could have been brought against QOFS, the proceeding may instead be brought against the State. For this section evidence that would have been admissible for or against QOFS is admissible for or against the State. This section does not apply to a proceeding for an offence or a proceeding under the Financial Intermediaries Act 1996 . (sec.50-ssec.1) For a proceeding started before the transfer date to which QOFS was a party immediately before the date, the State is substituted for QOFS as a party to the proceeding. (sec.50-ssec.2) For a proceeding not started before the transfer date and that could if started after the date be brought against QOFS, or apart from the commencement of section 17 and the dissolution of QOFS could have been brought against QOFS, the proceeding may instead be brought against the State. (sec.50-ssec.3) For this section evidence that would have been admissible for or against QOFS is admissible for or against the State. (sec.50-ssec.4) This section does not apply to a proceeding for an offence or a proceeding under the Financial Intermediaries Act 1996 .