28Continuing rights

28 Continuing rights

s. 28

(1) In this Part—

Continuing rights means rights of the State Bank existing immediately before the commencement of this section in respect of any loss suffered or damage incurred or any loss or damage which but for the operation of section 9(c) or (d) or of section 29, would have been suffered or incurred by the State Bank—

(a) in connection with the incorporation, promotion, acquisition, activities or accounts of Tricontinental; or

(b) in connection with anything done by an officer of Tricontinental; or

(c) as a shareholder in or as a provider of financial accommodation to Tricontinental; or

(d) in consequence, or as a result, of any act, omission, neglect, default or wrongdoing on the part of an officer of the State Bank in connection with the incorporation, promotion, acquisition, activities or accounts of Tricontinental.

(2) In subsection (1), officer in relation to Tricontinental or the State Bank includes—

(a) a director, secretary, executive officer or employee;

(b) a person who acts, or has at any time acted, as banker, solicitor or auditor, or in any other capacity, for Tricontinental or the State Bank, as the case requires;

(c) a person who—

(i) has, or has at any time had, in his or her possession any property of Tricontinental or the State Bank, as the case requires; or

(ii) is indebted to Tricontinental or the State Bank, as the case requires; or

(iii) is capable of giving information concerning affairs of Tricontinental or the State Bank, as the case requires.