(1) This section
applies to —
(a) any
action, arbitration or proceeding or cause of action, arbitration or
proceeding that shall, on the appointed day, be pending or existing by,
against or in favour of E.S.A. Savings Bank;
(b) any
cause of action, arbitration or proceeding by, against or in favour of E.S.A.
Savings Bank arising after the appointed day and which arises in respect of a
contract made by E.S.A. Savings Bank before the appointed day or which arises
in respect of anything done or omitted to be done by E.S.A. Savings Bank
before the appointed day,
but does not apply to
any action, arbitration or proceeding or to any cause of action, arbitration
or proceeding relating to an excluded asset.
(2) Subject to
subsection (3), any action, arbitration or proceeding and any cause of action,
arbitration or proceeding to which this section applies shall not abate or be
discontinued or be in any way prejudicially affected by reason of this Act,
and it may be prosecuted and, without amendment of any writ, pleading or other
document, continued and enforced by, against or in favour of A.N.Z. Savings
Bank in its own name as and when it might have been prosecuted, continued and
enforced by, against or in favour of E.S.A. Savings Bank if this Act had not
been enacted.
(3) The Court or other
person making or entering any judgment, order or award for the payment of any
sum of money, whether ascertained or to be ascertained, against A.N.Z. Savings
Bank in any such action, arbitration or proceeding to which subsection (2)
refers shall, at the request of any party in whose favour the judgment, order
or award is being made or entered, make or enter it against both E.S.A.
Savings Bank and A.N.Z. Savings Bank, and it may, when so made or entered, be
enforced against both E.S.A. Savings Bank and A.N.Z. Savings Bank.