(1) An appeal lies to the Irish Financial Services Appeals Tribunal (in this section called "the Tribunal") against -

(a) the Assessor's determination under section 25,

(b) the Assessor's rejection of a person's claim for compensation, or

(c) the Assessor's determination of the sum that a person is entitled to as compensation.

(2) This section applies to the Minister in the same manner as it applies to a person who has or claims a right to compensation.

(3) The Assessor is to be the respondent to an appeal under subsection (1).

(4) On hearing an appeal under subsection (1), the Tribunal may substitute its own determination or confirm, annul or vary the determination or rejection appealed from and may make any other consequential order.

(5) The Tribunal shall determine an appeal under subsection (1) as expeditiously as possible consistent with fairness and on the basis of the material that was before the Assessor unless the Tribunal is of the opinion that a further submission or submissions should be sought.