Or it could still be road legal in its country of origin but with a different registration (as is mine).
The original reg is not currently in use which suggests it died with the car
No not at all. Unless the original registration was transferred to another vehicle or put on retention it will just disappear.
My 4/4 was "CUP 856W" when I bought it but you won't find any sign of that registration on the DVLA now.
~iw