Document ID: chunk:federal_register_of_legislation:C2015A00087:clause:2_14
Version: federal_register_of_legislation:C2015A00087
Segment Type: clause
Provision Reference: sch 2 cl 14
Character Range: 68969–70169

14  Federal Court remedies

Continuation of proceedings under Division 203 of the PHI Act
(1) If, immediately before the transition time, proceedings commenced by the Council are pending in the Federal Court under Division 203 of the PHI Act, then the proceedings continue after the transition time in accordance with subitem (2), with APRA substituted for the Council as a party.
(2) Division 203 of the PHI Act, as in force immediately before the transition time, is taken to continue to apply (despite the amendments of that Division made by this Act) in relation to the proceedings as if:
 (a) references in the Division to the Council (other than references that are to a Council‑supervised obligation) were instead references to APRA; and
 (b) a thing done, by or in relation to the Council, under a provision of the Division before the transition time had been done, by or in relation to APRA, under that provision.

Applying Part 8 of the Prudential Supervision Act to contraventions of Council‑supervised obligations
(3) Part 8 of the Prudential Supervision Act has effect as if references in that Part to enforceable obligations also included references to Council‑supervised obligations.