When deciding, on an
extension application, whether to extend the time for the commencement of an
action, a court is to have regard to —
(a)
whether the delay in commencing the proposed action, whatever the merit of the
reasons for that delay, would unacceptably diminish the prospects of a fair
trial of the action; and
(b)
whether extending the time would significantly prejudice the defendant (other
than by reason only of the commencement of the proposed action).