Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to a proceeding (the relevant proceeding ) in a court (the transferor court ) if:
(a) the relevant proceeding is:
(i) a proceeding with respect to a civil matter arising under the Corporations legislation; or
(ii) a subsection 1337B(3) proceeding; and
(b) the transferor court is:
(i) the Federal court; or
(ii) a State or Territory Supreme Court.
(2) Subject to subsections (3), (4) and (5), 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 transfer the relevant proceeding or application to that other court.
(3) If:
(a) the relevant proceeding is a subsection 1337B(3) proceeding; and
(b) the transferor court is a State or Territory Supreme Court;
the transferor court must transfer the relevant proceeding to the Federal Court unless the matter for determination in it arises out of, or relates to, another proceeding pending in any court of that State or Territory that:
(c) arises, or a substantial part of which arises, under the Corporations legislation; and
(d) is not a subsection 1337B(3) proceeding;
regardless of which proceeding was commenced first.
(4) Even if subsection (3) does not require a State or Territory Supreme Court to transfer a subsection 1337B(3) proceeding to the Federal Court, it may nevertheless do so if it considers that to be appropriate, having regard to the interests of justice, including the desirability of related proceedings being heard in the same State or Territory.
(5) If:
(a) the relevant proceeding is a subsection 1337B(3) proceeding in relation to a matter; and
(b) the transferor court is the Federal Court;
the transferor court may only transfer the relevant proceeding, or an application in the relevant proceeding, to a State or Territory Supreme Court if:
(c) the matter arises out of, or relates to, another proceeding pending in any court of that State or Territory that:
(i) arises, or a substantial part of which arises, under the Corporations legislation; and
(ii) is not a subsection 1337B(3) proceeding;
regardless of which proceeding was commenced first; and
(d) the transferor court considers the transfer to be appropriate, having regard to the interests of justice, including the desirability of related proceedings being heard in the same jurisdiction.
(6) Nothing in this section confers on a court jurisdiction that the court would not otherwise have.
(7) The fact that some references in this section to the interests of justice include the desirability of related proceedings being heard in the same jurisdiction does not of itself mean that other references to the interests of justice, in this section or elsewhere in this Act, do not include that matter.