(1) The Board may terminate the registration of a registered administrator if the Board is satisfied that the registered administrator -
(a) has expressly requested the termination of registration;
(b) has failed to comply with the requirements of this Act;
(c) has not complied with a condition imposed by the Board under section 64E(2)(b); or
(d) is disqualified under section 64F from registration under this Part.
(2) As soon as practicable after the Board terminates the registration of a person as a registered administrator under subsection (1) it shall notify the person in writing of the termination and the reasons for that termination.