(1) A licensee may surrender a licence at any time during the period of validity of the licence by submitting the licence to the Board for cancellation.
(2) Where a licensee intends to surrender a licence under subsection (1), the licensee shall, no later than 60 days before the surrender or expiration of the licence, submit a written report to the Board setting out a plan for disposal of all regulated substances estimated to be left in the possession of the licensee on the date of the termination or expiration of the licence.