(1) If satisfied, after hearing an application of IAASA pursuant to Regulation 47, that an issuer's annual or half-yearly financial report does not comply with the relevant reporting framework in whole or in part, the Court may make a declaration to that effect and may, by order, do one or more of the following:

(a) require the issuer or its directors or both to revise the financial report at issue so that it complies with the relevant reporting framework;

(b) give directions respecting one or more of the following:

(i) the auditing of the revised annual accounts;

(ii) the revision of any matter contained in any annual financial report or half-yearly financial report as appropriate;

(iii) the steps to be taken by the issuer or directors or both to bring the order of the Court to the notice of persons likely to rely on the information that was the subject of the declaration;

(iv) such other matters as the Court sees fit;

(c) require the issuer or directors or both to pay the costs incurred by IAASA in performing its functions under Regulations 44 to 46 in relation to such issuer.