(1) Where a person who gives information to the Commission in an application under section 11 or a return under section 12 considers that making any information available for inspection could reasonably be expected to -

(a) have a serious adverse effect on -

(i) the financial interests of the State,

(ii) the national economy, or

(iii) business interests generally or the business interests of any description of persons,

or

(b) cause a material financial loss to the person to whom the information relates or prejudice seriously the competitive position of that person in the conduct of the person's occupation, profession or business or the outcome of any contractual or other negotiations being conducted by that person,

the person may make an application to the Commission for the making of a determination under this section in relation to the information.

(2) The Commission shall consult with any relevant Minister of the Government or Ministers of the Government before deciding an application under subsection (1)(a).

(3) An application under subsection (1) shall be decided before the end of the period of 21 days beginning with the day on which it is received.