Your CFO will tell you that you must provide proof of gun club membership before he/she will approve the restricted transfer for the purposes of "target shooting." However, there is no such law/requirement included under the Firearms Act/Chp. 39 CC.
You can take the offensive and demand that the transfer be approved or that the CFO provide a written refusal so that you can file a request with your provincial court for a reference hearing. The CFO will most likely pull in their horns and do the transfer. However, acting the "heavy" is not without consequences, even though you were well within your rights and the CFO was in the wrong. You can count on having your file flagged, unofficially of course, for "special" attention in the future. i.e., slow transfers, long wait times for LTATTs, etc...
Since you say you've already joined a club but are waiting for the president to sign off on your application, your best bet is to take the easy route, get your membership card and fax/email a copy to your CFO, get your transfer approved and LTATT.