(1) Where -

(a) no appeal under Regulation 118 against the adverse assessment is lodged with the Court within the period for lodging the appeal, or

(b) an appeal under Regulation 118 against the adverse assessment has been lodged with the Court within the period for lodging the appeal but is withdrawn or abandoned,

then the Bank may apply to the Court for an order confirming the adverse assessment (including the specified sanctions).

(2) The Court shall determine an application under paragraph (1) by making -

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

(b) an order remitting the case to be decided again by the Bank in accordance with the directions of the Court.

(3) The Court shall not hear an application under paragraph (1) unless -

(a) the assessee appears at the hearing as respondent to the application, or