Victorian Current Acts Victorian Current Acts(1) This section applies to a proceeding for an offence brought under section 404 of the Financial Institutions Code or section 471 of the Friendly Societies Code by VicFIC, or a person authorised in writing by VicFIC, that commenced before the transfer date but that was not completed before the date.
(2) On and after the transfer date, the proceeding may continue to be prosecuted by either APRA or ASIC in place of VicFIC or the person authorised by VicFIC and APRA or ASIC may be substituted for VicFIC or the person.
(3) The functions and powers necessary for this section are conferred on APRA and ASIC.
Division 4—APRA's and ASIC's functions and powers under Codes