Denaturers, or specially denatured spirits dealers or users, having on hand stocks of denaturants or formulas of specially denatured spirits no longer authorized by this part may—
(a) Continue to supply or use those stocks in accordance with existing permits until the stocks are exhausted;
(b) Use up those stocks in any manufacturing process approved by the appropriate TTB officer, pursuant to an application filed with him on TTB Form 5150.19, Formula for Articles made with Specially Denatured Alcohol and Rum;
(c) On approval of an application, filed with the appropriate TTB officer and approved by such officer, destroy those stocks under whatever supervision the appropriate TTB officer requires; or
(d) Otherwise dispose of those stocks in a manner satisfactory to the appropriate TTB officer, pursuant to approval of an application.