"Allow New Member Registrations" Conditional

Not sure if this is a plugin question or if there is something built in to EE 1 I can use, but I need to hide certain content - register link, User registration form etc - based upon whether “Allow New Member Registrations?” is set to on or off in the control panel.

Anyone know how I can achieve this? Either with a plugin, an EE conditional variable, or as a last resort, with some php.

Thanks!