The CBB may, subject to Paragraph CSD-4.4.6, within 21 days after the receipt of the notification referred to in rule CSD-4.4.1, by notice in writing to the licensed clearing house or licensed central depository, disallow, alter or supplement the whole or any part of the proposed amendment and, thereupon, such whole or part of the proposed amendment, as the case may be:

(a) Where it is disallowed, shall not come into force; or
(b) Where it is altered or supplemented, shall come into force as altered or supplemented accordingly.
Amended: April 2016