s 361 Effect of registration
361.—(1) Starting on the date of registration specified in the notice of transfer of registration —(a) the foreign corporate entity is deemed to be a company as defined in section 4(1) and all provisions of this Act pertaining to companies apply with such adaptations, exceptions and modifications as may be specified in regulations; and (b) if the foreign corporate entity was registered as a foreign company under Division 2 of Part 11 immediately before that date, ceases to be so registered under Division 2 of that Part.[15/2017] (2) To avoid doubt, the registration of a foreign corporate entity does not —(a) create a new legal entity; (b) prejudice or affect the identity of the body corporate constituted by the foreign corporate entity or its continuity as a body corporate; (c) affect the property, or the rights or obligations, of the foreign corporate entity; or (d) render defective any legal proceedings by or against the foreign corporate entity, and any legal proceedings that could have been continued or commenced by or against the foreign corporate entity before its registration may be continued or commenced by or against the company after the registration. [15/2017]