153. Change in Default Rules

(1) A Recognised Body shall give the Regulator at least one month's notice of any proposal to amend, revoke or add to its Default Rules and the Regulator may direct the Recognised Body not to proceed with the proposal, in whole or in part.
(2) The Regulator may, if it considers it appropriate to do so, agree a shorter period of notice and, in a case where it does so, any Direction under this section must be given by it within that shorter period.
(3) A Direction under this section may be varied or revoked.
(4) Any amendment or revocation of, or addition to, the Default Rules of a Recognised Body in breach of a Direction under this section is ineffective.