(1) An appropriate person may make, in respect of a relevant trust, an application to the court for an order to approve an arrangement specified in the application for the benefit of a relevant person specified in the application if the arrangement has been assented to in writing by each other person (if any) who -

(a) is not a relevant person,

(b) is beneficially interested in the trust, and

(c) is capable of assenting to the arrangement.

(2) The court shall not hear an application made to it under subsection (1) in respect of a relevant trust unless it is satisfied that the applicant has given notice in writing of the application -

(a) to the Revenue Commissioners, and

(b) to such persons as may be prescribed by rules of court,

at least 2 weeks before the hearing of the application.

(3) The court may hear an application made to it under subsection (1) otherwise than in public if it considers that it is appropriate to do so.