55.—(1) This paragraph applies if one or more of the parties to an agreement applies to the Court for a decision whether or not the agreement is an agreement for recognition.N.I.
(2) The Court must give notice of receipt of an application under sub-paragraph (1) to any parties to the agreement who are not parties to the application.
(3) The Court must within the decision period decide whether the agreement is an agreement for recognition.
(4) If the Court decides that the agreement is an agreement for recognition it must issue a declaration to that effect.
(5) If the Court decides that the agreement is not an agreement for recognition it must issue a declaration to that effect.
(6) The decision period is—
(a)the period of 10 working days starting with the day after that on which the Court receives the application under sub-paragraph (1), or
(b)such longer period (so starting) as the Court may specify to the parties to the agreement by notice containing reasons for the extension.