The CBB may approve an application made under rule CSD-5.2.1 if the CBB is satisfied that:

(a) The applicant is a fit and proper person to be a substantial shareholder;
(b) Having regard to the applicant's likely influence, the licensed clearing house or licensed central depository will, or will continue to conduct its business prudently and in compliance with the provisions of this Module; and
(c) It would not be contrary to the interests of the public to do so.
Amended: April 2016