(1) The relevant institution in relation to which a subordinated liabilities order is made or a subordinated creditor of that institution may apply to the Court by motion on notice grounded on affidavit, not later than 14 days after the requirements of section 29A(2)(a) and (b) have been met, for the setting aside of the subordinated liabilities order or, in the case of a subordinated creditor, of the part or parts of that order that affect the subordinated creditor concerned.
(2) The Court shall give such priority to an application under subsection (1) as is necessary in the circumstances, and may give such directions as it considers appropriate in the circumstances -
(a) with regard to the hearing of the application, or
(b) with regard to a matter that arises during the period beginning with the subordinated liabilities order and ending with the order of the Court under this section.
(3) On an application under subsection (1), the Court shall set aside the subordinated liabiliti