(1) If the Bank refuses to approve a prospectus the applicant may apply to the Court in a summary manner to have such refusal reviewed.
(2) An application under paragraph (1) shall be made within 28 days after the date of notification of the Bank's decision under Regulation 35.
(3) On the hearing of an application under this Regulation, the Court shall confirm the decision of the Bank unless the applicant establishes to the Court's satisfaction that the applicant has complied with the procedures specified by these Regulations and any other provisions of Irish prospectus law in all material respects and that the prospectus meets the requirements of these Regulations and any other such provisions in all material respects.
(4) If the Court is satisfied that those procedures and requirements have been complied with in all material respects the Court may set aside the decision of the Bank and in such a case shall remit the matter to the Bank which shall thereupon reconsider the matter