(1) The institution or entity in relation to which a resolution order is made, a shareholder of that institution or entity or a holder of a relevant capital instrument or liability affected by the resolution order may apply to the Court by motion on notice grounded upon affidavit, not later than 48 hours after the publication, in accordance with Regulation 107, of the resolution order, for the setting aside of the resolution order.
(2) The Court shall in hearing an application under paragraph (1) act as expeditiously as possible consistent with the proper administration of justice, and may, subject to Regulation 150, give such directions as it considers appropriate in the circumstances.
(3) On an application under paragraph (1), the Court may set aside the resolution order only where the Court is satisfied that the decision of the resolution authority was unreasonable or vitiated by an error of law.
(4) Where the Court sets aside a resolution order -
(a) no further assets, rights, liab
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