17 (b) the extent to which he or she is stated to be personally liable for the debts and liabilities of the troubled financial institution; or (c) a finding that any share, right, or interest in or claim upon the troubled financial institution that is purported to be held by him or her was obtained by or resulted from any fraud committed by him or her in relation to the institution; may, within seven days of the notification thereof in terms of subsection (3), make written representations to the administrator to amend the part of the statement relating to the matters referred to in subsection (1)(b) or (c) accordingly, and, if the administrator refuses to make the amendment, the administrator shall, within twenty-one days after the date of a notification in terms of subsection (3), apply to a judge in chambers for an order confirming the identification or finding referred to in paragraph (a) or (c), or confirming the extent to which the person may be held liable for the debts and liabilities of the troubled financial institution, whichever matter is the subject of the objection. (8) Where a person referred to in subsection (1)(b) or (c) makes no objection to any matter referred to in subsection (7)(a), (b) or (c) within seven days of the notification thereof in terms of subsection (3), or where a judge issues a confirming order in terms of subsection (7) in relation to any matter in issue, the person concerned shall become a specified person for the purposes of this Act. (9) A person referred to in subsection (7) shall bear the onus of satisfying the administrator or a judge that any amendment, rescission or variation of any matter referred to in paragraph (a), (b) or (c) of that subsection should be made in his or her favour. (10) A decision by a judge not to issue a confirming order in terms of subsection (7), or to issue it subject to any amendment, rescission or variation of any matter referred to in paragraph (a), (b) or (c) of that subsection in favour of a respondent, shall not prevent the administrator from making a fresh application in terms of that subsection on the basis of new evidence obtained since the original application, or to correct any mistake in the original application, and subsections (3), (7), (8) and (9) shall apply to such fresh application. (11) Any person shall be entitled by himself or herself or by his or her agent at all reasonable times, on payment of the prescribed fee, to inspect the statement submitted in pursuance of this section and to a copy thereof or extract therefrom. 15 Revaluation of assets, liabilities and share capital of troubled financial institutions (1) Immediately after assuming office, the administrator shall undertake a valuation of the assets and liabilities of the troubled financial institution in order to determine its net asset value. (2) If, following a valuation undertaken in terms of subsection (1), the administrator considers that the share capital of the troubled financial institution is substantially over-valued taking into consideration the institution’s net asset value, he or she may, subject to this section, and with the approval of the Reserve Bank, reduce the nominal value of all or any class of the institution’s shares. (3) Sections 92 to 97 of the Companies Act, concerning the reduction of a company’s share capital, shall not apply to any revaluation of a troubled financial institution’s shares carried out under this section.