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5.—(1) Where the Treasury give a direction they must—
(a)take such steps as they consider appropriate—
(i)to publicise generally the direction, or
(ii)to inform only certain persons of the direction;
(b)give written notice to the person identified in the direction; and
(c)if they vary or revoke the direction, take steps to bring the variation or revocation to the attention of the persons informed or notified under sub-paragraph (a) or (b).
(2) Where the Treasury inform only certain persons of the direction, only those persons and the person identified in the direction are subject to the prohibitions referred to in paragraph (3).
(3) The prohibitions mentioned in paragraph (2) are those in articles 7(1) and, as the case may be, 8(1) insofar as they relate to—
(a)the person identified in the direction,
(b)any person owned or controlled, directly or indirectly, by him, or
(c)any person acting on his behalf or at his direction.
(4) The High Court or, in Scotland, the Court of Session may set aside a direction on the application of—
(a)the person identified in the direction, or
(b)any other person affected by the direction.
(5) A person who makes an application under paragraph (4) must give a copy of the application and any witness statement or affidavit in support to the Treasury not later than seven days before the date fixed for the hearing of the application.
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