(1) On receiving a memorandum of agreement, the Commissioner shall, unless he considers that there are grounds for refusing to record the memorandum, fix a date for recording the same, and shall issue a notice in writing in form N to the parties concerned that in default of objections he proposes to record the memorandum on the date so fixed:
Provided that the notice may be communicated orally to any parties who are present at the time when notice in writing would otherwise issue.
(2) On the date so fixed, the Commissioner shall record the memorandum unless, after hearing any of the parties who appears and desire to be heard, he considers that it ought not to be recorded:
Provided that the issue of a notice under rule (1) shall not be deemed to prevent the Commissioner from refusing to record the memorandum on the date so fixed even if no objection be made by any party concerned.
(3) If on such date the Commissioner decides that the memorandum ought not to be recorded, he shall inform the parties present of his decision and of the reasons therefore and if any party desiring the memorandum to be recorded is not present, he shall send information to that party in Form O.