23Effect of transfer

23 Effect of transfer

(1)  This section applies, on and from the transfer date, if transferring members and transfer assets are transferred under section 22 to the initial default fund.

(2)  A reference, in any other Act, any instrument made under any other Act, any contract, agreement, arrangement or undertaking, or any document of any kind, including a document to which a transfer under section 22 relates, to –

(a) the Board; or

(b) any predecessor of the Board –

to the extent to which the reference relates to the rights or liabilities, before the transfer date, of the transferring members, or the transfer assets, is taken to be, or include, a reference to the Commission.

(3)  Any legal, or other, proceedings that –

(a) relate to the Tasmanian Accumulation Scheme; and

(b) are commenced, before the transfer date, by or against the Board or a predecessor of the Board –

are taken to be proceedings commenced by or against the Commission.

(4)  Any legal, or other, proceedings that –

(a) relate to the Tasmanian Accumulation Scheme; and

(b) could have been commenced, before the transfer date, by or against the Board or a predecessor of the Board –

may be commenced by or against the Commission.

(5)  A judgement or order of a court, or other tribunal, that is, before the transfer date, obtained by or against the Board or a predecessor of the Board may be enforced by or against the Commission.

(6)  Any document, relating to legal or other proceedings, that has been, before the transfer date, served on or by the Board, or a predecessor of the Board, is taken, where appropriate, to have been served on or by the Commission.