The CBB may order a person who has applied under rule CSD-1.1.1 not to establish or commence operation of a clearing or depository facility if:

(a) The person did not furnish the CBB with such information or documents as required under rule CSD-1.2.3 of this Module;
(b) Any information or document provided by the person to the CBB is or proves to be false or misleading; or
(c) The CBB is of the opinion that it is in the interests of the capital market or financial sector.