295Proceedings

295 Proceedings (1) This section applies if, immediately before the transfer date, a proceeding relating to a VMIA‑issued domestic building insurance policy to which the VMIA was a party was pending or existing in any court or tribunal. (2) On and after the transfer date, the Authority— (a) is substituted for the VMIA as a party to the proceeding; and (b) has the same rights in the proceeding as the VMIA had. S. 296 inserted by No. 17/2025 s. 10.