(1) This section applies if, before the commencement day—
(a) an application was—
(i) made, referred or transferred, to the credit tribunal (other than an application for disciplinary action) under a territory law; or
(ii) made to the credit tribunal to transfer a matter to a court under a territory law; and
(b) the tribunal had not begun hearing the application.
(2) The application is taken on and after the commencement day to be an application to the ACAT under the territory law.
(3) An order made by the credit tribunal in relation to the application is taken on and after the commencement day to be an order of the ACAT.