19Continuation of certain offence proceedings

19 Continuation of certain offence proceedings

(1)  This section applies to a proceeding for an offence brought under section 63 of the AFIC Code by AFIC, or a person authorised in writing by AFIC, that started before the transfer date but was not completed before that date.

(2)  On and after the transfer date, the proceeding may continue to be prosecuted by either APRA or ASIC in place of AFIC or the person authorised by AFIC, and APRA or ASIC may be substituted in the proceeding for AFIC or the person.

(3)  The functions and powers necessary for this section are conferred on APRA and ASIC.