No rule issued by a Clearing Agency nor amendments thereof, either by withdrawal, replacement or change, or addition thereof, shall be valid and effective unless accredited by the Authority. The Clearing Agency shall submit the reasons and objectives for proposing such a rule or amendment and set out its impact; thereupon, the Authority may give its approval, disapproval or amendment thereof and shall notify the Clearing Agency in writing of its decision within at latest one week of date of its decision.