(1) The Central Bank shall cancel the registration of a building society that has been -

(a) dissolved by virtue of section 95 or 96,

(b) wound up under section 109 and dissolved, or

(c) converted into a public limited company under Part XI.

(2) Where the Central Bank is satisfied, with respect to a society -

(a) that a certificate of incorporation has been obtained for the society by fraud or mistake and that the society is not an authorised society,

(b) that the society has ceased to function, or

(c) that the society has failed to comply with section 124(5),

the Bank may cancel the registration of the society.

(3) Without prejudice to subsection (2), the Central Bank may, if it thinks fit, cancel the registration of a society at the society's request, evidenced in such manner as the Bank may direct.