146Effect of proceedings

1. If a person commences a proceeding in any court in respect of the exercise of any powers conferred by a relevant section, until a final decision in relation to the proceeding is given,—

2. the powers may be, or may continue to be, exercised as if the proceeding had not been commenced; and
3. no person is excused from fulfilling their obligations under that section by reason of the proceeding.

4. However, an interim order may be made by the court overriding the effect of subsection (1), but only if the court is satisfied that—

5. the applicant has established a prima facie case that the exercise of the power in question is unlawful; and
6. the applicant would suffer substantial harm from the exercise or discharge of the power or obligation; and
7. if the power or obligation is exercised or discharged before a final decision is made in the proceeding, none of the remedies specified in subsection (3), or any combination of those remedies, could subsequently provide an adequate remedy for that harm; and
8. the terms of that order do not unduly hinder or restrict the Bank or an investigator in performing or exercising any functions, powers, or duties under this Act or any provision of the prudential legislation.

9. The remedies are as follows:

10. any remedy that the court may grant in making a final decision in relation to the proceeding (for example, a declaration):
11. any damages that the applicant may be able to claim in concurrent or subsequent proceedings:
12. any opportunity that the applicant may have, as defendant in a proceeding, to challenge the admissibility of any evidence obtained as a result of the exercise or discharge of the power or obligation.

13. In this section and section 147, relevant section means section 99 or 127.