283Proceedings

283 Proceedings

(1) Subject to subsection (2), unless an allocation statement otherwise provides, if, immediately before the relevant date, proceedings relating to former V/Line Pty Ltd property (including arbitration proceedings) to which V/Line Pty Ltd was a party were pending or existing in any court or tribunal, then, on and after that date, V/Line Corporation is substituted for V/Line Pty Ltd as a party to the proceedings and has the same rights in the proceedings as V/Line Pty Ltd had.

(2) Subsection (1) does not apply to any proceedings pending or existing in any court or tribunal immediately before the relevant date if the allocation statement was given under an agreement entered into after V/Line Pty Ltd has resolved to voluntarily wind up unless the agreement specifically provides that subsection (1) is to apply to those proceedings.

S. 284 inserted by No. 3/2017 s. 51.