Nothing in this Part affects sovereignty or sovereign rights in respect of any waters of the sea that are waters of or within any bay, gulf, estuary, river, creek, inlet, port or harbour and:
(a) were, on 1st January, 1901 , within the limits of a State; and
(b) remain within the limits of the State;
or in respect of the airspace over, or in respect of the sea - bed or subsoil beneath, any such waters.