137.4.1. If the council of the regional county municipality withholds approval of the by-law, the council of the municipality may, instead of applying for the assessment provided for in section 137.4, adopt(1) a single by-law containing only the elements of the by-law concerned that did not cause approval to be withheld; or
(2) a by-law containing only the elements of the by-law concerned that did not cause approval to be withheld together with a by-law containing only the elements of the by-law concerned that caused approval to be withheld.
Sections 124 to 133 do not apply in respect of a by-law adopted under the first paragraph. Section 137.3 does not apply in respect of a by-law containing only the elements that caused approval to be withheld; the council of the municipality may, in the same resolution, apply to the Commission for an assessment under section 137.4, as if approval for such by-law had been withheld by the council of the regional county municipality; the time limit prescribed in the third paragraph of the said section shall be computed in relation to the date of adoption of the by-law.
Any by-law adopted under the first paragraph that contains a provision having resulted in, in respect of the by-law for which approval was withheld by the council of the regional county municipality, the utilization of the process of approval by way of referendum must be approved by the same qualified voters, regardless of any change in the date of reference within the meaning of the Act respecting elections and referendums in municipalities (chapter E-2.2). However, the by-law is deemed to have been so approved on the date of its adoption if, on such date, the by-law for which approval was withheld by the council of the regional county municipality is deemed, under the said Act, to have been approved by the qualified voters.