This is how I see it – and I sincerely hope that I was wrong.
The key part of the Player Registration Section is this……
41.1 A Registered Player is one who has signed an appropriate registration form or forms and/or contract (such signature to be witnessed by a second person) and whose registration has been approved by The League. No Player may play in any competition organised by The League unless and until his registration has been so approved.’
The main part is the last sentence that the League has to actively approve the registration. It is not a simple case of firing off a fax, as Millmoorlane suggests, and hope for the best.
From what I know both clubs agreed to the extension (so no confusion over the end date of the deal as appeared to be the case with Blackpool). However, as I understand it, the League did not sanction (approve) the extension. That may have been due to them being closed for the bank holiday.
So somewhere between the loan deal ending and the game