Financial Sector Reform (Tasmania) Act 1999
35Continuation and preservation of civil proceedings involving TOFS
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35 Continuation and preservation of civil proceedings involving TOFS
(1) For the purposes of a proceeding started before the transfer date to which TOFS was a party immediately before that date, the State is substituted for TOFS as a party to the proceeding.
(2) For the purposes of a proceeding not started before the transfer date and which could if started after that date be brought against TOFS, or but for the commencement of section 56 and the dissolution of TOFS could have been brought against TOFS, 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 TOFS is admissible for or against the State.
(4) This section does not apply to a proceeding for an offence.