Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:19_37
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 19 cl 37
Character Range: 240194–241017

37  Proceedings etc. by or against the ISC

(1) If, immediately before the APRA commencement, the Commissioner was a party to a legal proceeding in a court or tribunal then:
 (a) to the extent that the proceeding relates to a function of APRA—APRA is substituted as a party to the proceeding and has the same rights in the proceeding as the Commissioner had; and
 (b) to the extent that the proceeding relates to a function of ASIC—ASIC is substituted as a party to the proceeding and has the same rights in the proceeding as the Commissioner had.

(2) Subitem (1) does not limit a power of a court or tribunal to make orders or give directions about:
 (a) whether one or both of APRA or ASIC continue as a party or parties to the proceeding; and
 (b) the rights in the proceeding of any of the parties to the proceeding.