This word is acceptable for play in the US & UK dictionaries that are being used in the following games:

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n. The act of rescinding.

n. An act of removing, taking away, or taking back.

n. The undoing of a contract; repeal.

n. The act of rescinding, abrogating, annulling, or vacating.

n. The act of rescinding or cutting off.

n. The act of abrogating, annulling, or vacating: as, the rescission of a law, decree, or judgment.

n. The avoiding of a voidable contract.

n. (law) the act of rescinding; the cancellation of a contract and the return of the parties to the positions they would have had if the contract had not been made

"The $113 million rescission from the FY'09 Commercial Crew and Cargo budget, based on my review, would appear to still leave enough funds to cover milestone payments for both Orbital and SpaceX."

cancellation   

rescind   

revocation    rescindment   

Parisian    circumcision    collision    decision    derision    division    envision    excision    incision    indecision   

invalidation    annulment    abrogation    archiving    buy-back    cancellation    nullifiers    annul    copartnership    abjuration