(1)  This section applies if any of the following appears to have occurred:

(a) a concerted interstate default;

(b) a default to which section 398 (Defaults involving interstate elements where committed by one associate only) applies.

(2)  The Trust may request a corresponding authority or corresponding authorities to act as agent or agents for the Trust, for the purpose of processing or investigating a claim about the default or aspects of the claim.

(3)  The Trust may act as agent of a corresponding authority, if requested to do so by the corresponding authority, for the purpose of processing or investigating a claim about the default or aspects of the claim.

(4)  If the Trust agrees to act as agent of a corresponding authority under subsection (3) , the Trust may perform or exercise any of its functions or powers in relation to processing or investigating the claim or aspects of the claim as if the claim had been made entirely under this Part.