(1) Subject to subsections (3) and (4):
(a) any instrument or other document made in accordance with a provision of the previous law and in effect immediately before the commencing date; and
(b) any endorsement, memorandum or other note made in accordance with a provision of the previous law on any such instrument or document and in effect immediately before the commencing date;
has effect on and after that date as if it had been made in accordance with the corresponding provision of this Act.
(2) Subject to subsections (3) and (4):
(a) any instrument or other document:
(i) made in accordance with a provision of the law of a foreign country relating to the registration of ships in that country, being a provision that corresponds with a provision of the previous law;
(ii) made in respect of a ship application for the registration of which is made under section 14 or 87; and
(iii) in effect immediately before the commencing date; and
(b) any endorsement, memorandum or other note made, in accordance with a provision of the law of that foreign country that corresponds with a provision of the previous law, on any such instrument or document and in effect immediately before the commencing date;
has effect on and after that date as if it had been made in accordance with the corresponding provision of this Act.
(3) Where any instrument or other document referred to in subsection (1) or (2) is lodged with, or received by, the Registrar for the purposes of this Act and the Registrar is of the opinion that:
(a) the instrument or document does not sufficiently comply with the requirements of this Act; or
(b) it would be inappropriate to accept the instrument or document for the purposes of this Act;
he or she may refuse to accept the instrument or document for the purposes of this Act.
(4) Subsections (1) and (2) do not apply to a certificate of mortgage or certificate of sale granted under section 39 of the previous law or under a corresponding provision of the law of a foreign country.