Where the rent payable for any dwelling is entered in the register under section 79 or 79A of this Act, the appropriate tribunal shall cancel the registration of entry, on an application made under this section, if—
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the dwelling is not for the time being subject to a restricted contract; and
the application is made by the person who would be the lessor if the dwelling were subject to a restricted contract.
An application under this section must be in the prescribed form, and contain the prescribed particulars.
Cancellation of the registration shall be without prejudice to a further registration of a rent at any time after the cancellation.
The appropriate tribunal shall notify the applicant of their decision to grant, or to refuse, any application under this section.