Is it possible to move a Payroll Element/Option from one Individual Compensation Plan to another?

Summary: Several Options/Elements have been set up against the incorrect Individual Compensation Plan, is it possible to remove them from the incorrect plan and recreate them on the correct plan?

Content (please ensure you mask any confidential information):

1. Unable to Add a Payroll Element to an Individual Compensation Plan whilst it is available under another: Payroll Element does not appear in LOV
2. Unable to Delete an Option in an Individual Compensation Plan, results in Error: You can't delete this option because it's currently used to allocate compensation. (CMP-1005058)
3. Unable to Delete Payroll Element from Option within Individual Compensation Plan, results in Error: You need to link at least 1 element to the option. (CMP-1005071)