(1) The registration of a registered plan shall not be cancelled unless the plan has been wound-up.
(2) The trustees of a registered plan shall, within 14 days of the completion of the winding-up of the plan, notify the Registrar in writing that the winding-up has been completed.
(3) On receiving notice in writing that a registered plan has been wound-up, the Registrar shall cancel the registration of the plan where he or she is satisfied that—
(a) the plan has been wound-up; and
(b) the assets of the plan have been applied in accordance with the rules of the plan.