(1) The assessee may appeal against an adverse assessment (including the specified sanctions) not later than 28 days after the Bank has complied with Regulation 27(1) in relation to the assessee, or within such further period as the court allows.

(2) Where the court is satisfied, because of the nature or the circumstances of the case or otherwise in the interests of justice, that it is desirable that the whole or any part of proceedings relating to an appeal under paragraph (1) should not be heard in public then, where the court so directs, the proceedings may be heard otherwise than in public.

(3) The court may, pending the hearing and determination of an appeal under paragraph (1), make such interim or interlocutory orders as the court considers necessary in the circumstances.

(4) The court shall determine an appeal under paragraph (1) by making -

(a) subject to paragraph (6), an order confirming, varying or setting aside the adverse assessment (including the specified sanctions), whether in whole or in part, or