(1) The senior judicial officers of the two courts concerned must consider any objections filed and may permit any objecting party to make oral submissions to them in support of the objection.
(2) After having considered an objection and any oral submission permitted to be made in support of it the senior judicial officers must determine whether the proceeding should be transferred.
(3) If the senior judicial officers cannot agree, the opinion of the officer of the higher court is to be taken to be the determination of both.
(4) The senior judicial officers may require an undertaking as to costs to be given by—
(a) a party who supports the transfer as a condition of determining that a proceeding should be transferred; or
(b) a party who opposes the transfer as a condition of determining that a proceeding should not be transferred.
(5) The senior judicial officers must not require an undertaking from a party without giving the party a reasonable opportunity to be heard by them.