A. On motion of the child or his caretaker, an adjudication shall be vacated and a new adjudication hearing ordered if, after contradictory hearing, the court finds that:
(1) The adjudication was obtained by fraud or mistake sufficient to justify vacating the adjudication.
(2) The court making the adjudication lacked jurisdiction.
(3) New evidence not previously discoverable by due diligence requires vacating the adjudication in the interest of justice. A motion based upon this ground must be brought within one year of the adjudication.
B. In the interest of justice, the court may vacate an adjudication prior to disposition.
Acts 1991, No. 235, §7.