(1) The credibility rule does not prevent the admission or use of evidence that relates to the credibility of a witness and that has been adduced in cross-examination of the witness.
(2) Evidence referred to in subsection (1) is not admissible if it—
(a) is relevant only to the credibility of the witness; and
(b) does not have substantial probative value as to the credibility of the witness.
(3) In determining whether the evidence referred to in subsection (1) has substantial probative value the court shall have regard to, inter alia, the following matters—
(a) whether the evidence tends to prove that the witness knowingly or recklessly made a false representation at a time when the witness was under an obligation to tell the truth; and
(b) the period that has elapsed since the acts or events to which the evidence relates were done or occurred.