Article 47

A court shall have pecuniary jurisdiction when the amount or value of the subject matter of the suit is, on the day of the institution of the suit, within the limitations for that court as set out in this Chapter.

In determining whether it has pecuniary jurisdiction, the court shall look to the amount stated in the statement of claim.

Where a suit has been instituted in a court competent under the provisions of this Chapter, such court shall remain competent notwithstanding that the amount or value of the subject matter of the suit increases or is reduced due to changes in economic circumstances.

Where a part of the claim is admitted at any time before evidence is produced, and the amount or value of the subject matter of the suit is accordingly reduced, the court may try the suit or, on its own motion, may order the transfer of the suit to such subordinate court as has pecuniary jurisdiction with regard to the remaining amount.