(1) A person shall not question the validity of -

(a) a rule under section 8,

(b) a derogation from, or waiver of, such a rule, granted by the Panel under section 8(7), or

(c) a ruling or direction of the Panel under section 9,

otherwise than by way of an application for judicial review under Order 84 of the Rules of the Superior Courts (S.I. No. 15 of 1986) (in this Act referred to as "the Order").

(2) A person shall not question, by the means aforesaid, the validity of a rule under section 8 unless and until the Panel makes a ruling or gives a direction under section 9 in relation to a takeover or other relevant transaction to which the person is a party, being a ruling or direction the basis for which is, in whole or part, the said rule (in subsection (3) referred to as "the related ruling or direction").

(3) An application for leave to apply for judicial review under the Order in respect of a rule, derogation, waiver, ruling or direction referred to in subsection (1) shall -

(a) subject to subsection (5), be made within the period of 7 days commencing on -