(1) This section applies if a proceeding in the Supreme Court relates to a cause of action that is a prescribed action.
(2) The Supreme Court may, on the application of a party to the action or its own initiative, order that the action be transferred to the Magistrates Court if it considers it just to do so.
(3) In subsection (1):
"prescribed action" means an action in which the amount claimed (whether initially or as reduced by payment, admitted set-off or otherwise) is not more than the amount for which the Magistrates Court has jurisdiction under this chapter.