The temporary registration of a vehicle under this part expires on the first to occur of: Receipt of annual registration plates for the vehicle; Rescission of the contract to buy the vehicle; or Expiration of 60 days from the date the temporary plate was issued. The Administration may extend the temporary registration for a vehicle under this part for a period not to exceed 30 days if the Administration is satisfied that reasonable conditions exist to justify the granting of this extension. The person to whom a temporary registration plate has been issued for a vehicle shall destroy the temporary registration plate as soon as the temporary registration expires.