(1) Where, in connection with the financial assessment of a person, a transferred item is taken into account by the Executive in determining the means of the person and the transfer of the transferred item was effected prior to 9 October 2008, the person may make an application to the Executive to recalculate the means of the person by excluding one or more than one of the transferred items on the ground that it is necessary to do so in order to avoid undue financial hardship arising by including that item in the financial assessment in relation to an applicable person.

(2) The Executive may refuse to consider or further consider an application under subsection (1) by a person if -

(a) the application does not comply with that subsection, or

(b) an applicable person fails to provide the Executive with such information in addition to the information provided by or with the application as the Executive may reason ably require to enable it to determine the application under subsection (5).