Western Australian Current Regulations

BANK MERGERS (NATIONAL AUSTRALIA BANK AND BANK OF NEW ZEALAND) REGULATIONS 1997 - REG 13

13 .         Legal proceedings

        (1)         This regulation applies to — 

            (a)         any action, arbitration, regulatory inquiry or proceeding or cause of action which is at the commencement time pending or existing by, against, in respect of, or in favour of, BNZ; and

            (b)         any cause of action, arbitration, regulatory inquiry or proceeding by, against, in respect of, or in favour of, BNZ, which arises after the commencement time in respect of a contract made by BNZ before the commencement time or which arises in respect of anything done or omitted to be done by BNZ before the commencement time,

                but does not apply to any action, arbitration, regulatory inquiry or proceeding or to any cause of action relating to — 

            (c)         an excluded asset;

            (d)         the employment of a BNZ employee; or

            (e)         a provident, benefit, superannuation or retirement fund relating to BNZ employees.

        (2)         Any action, arbitration, regulatory inquiry or proceeding and any cause of action, arbitration, regulatory inquiry or proceeding to which this regulation applies, is not abated or discontinued or in any way prejudicially affected by reason of Part 2, and may, without any further act, deed or instrument other than any appropriate amendment of the records of the relevant court or tribunal, be prosecuted and continued and enforced by or against National, in its own name as and when it might have been prosecuted, continued and enforced by or against BNZ if these regulations had not been made.

        (3)         Despite subregulation (2), the court, tribunal 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 National in any legal or arbitral proceeding to which this regulation applies may, at the request of any party in whose favour the judgment, order or award is being made or entered, make or enter the judgment, order or award against both BNZ and National, and the judgment, order or award may, when so made or entered, be enforced against both BNZ and National.