(1) This section applies to a proceeding (the relevant proceeding ) in a court
(the transferor court ) if:
- (a)
- the relevant proceeding is with respect to a
civil matter arising under the Corporations legislation; and
- (b)
- the transferor court is a lower court of a State or Territory.
(2) If it appears to the transferor court that, having regard to the interests
of justice, it is more appropriate for:
- (a)
- the relevant proceeding; or
- (b)
- an application in the relevant proceeding;
to be determined by another court that has jurisdiction in the matters for
determination in the relevant proceeding or application, the transferor court
may take action under whichever of subsections (3) and (4) applies.
(3) If the other court is also a lower court, the transferor court may
transfer the relevant proceeding or application to the other court.
(4) If the other court is a superior court, the transferor court may:
- (a)
- transfer the relevant proceeding or application to the relevant Supreme Court;
and
- (b)
- recommend that the relevant proceeding or application be transferred by
the Supreme Court to the other court.
(5) The relevant Supreme Court is not bound to comply with a recommendation
under subsection (4) and it may instead decide:
- (a)
- to deal with the
relevant proceeding or application itself; or
- (b)
- to transfer the relevant proceeding or application to some other court
(which could be the transferor court).
(6) Nothing in this section allows the relevant Supreme Court to transfer the
relevant proceeding or application to another court otherwise than in
accordance with section 1337H and the other requirements of this
Division.
(7) Nothing in this section confers on a court jurisdiction that the court
would not otherwise have.
(8) In this section:
"relevant Supreme Court" means the Supreme Court of the State or Territory of
which the transferor court is a court.