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223.—(1) A person may apply to the registrar for the cancellation of a caution if he is—
(a)the proprietor of the registered estate or a registered charge to which the caution relates, or
(b)a person who, but for the existence of the caution, would be entitled to be registered as the proprietor of that estate or charge.
(2) An application for the cancellation of a caution must be in Form CCD.
(3) Where application is made under this rule, the registrar must give the cautioner notice of the application.
(4) Following the expiry of the notice period, unless the registrar makes an order under rule 221(4), the registrar must cancel the entry of the caution.
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