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(1) If the Registrar, after an enquiry has been held under paragraph 48 of this Decree or after an inspection has been made under paragraph 49 of this Decree or on receipt of an application made by not less than three-fourths of the members of a registered society, is of the opinion that the society ought to be dissolved, he may by executive instrument cancel its registration.

(2) Where the Registrar cancels the registration of a society under sub-paragraph (1) of this paragraph he may make such order as he may deem fit respecting the custody of the books and documents and the protection of the assets of the society until the instrument cancelling the registration of the society takes effect.