17 Existing paragraph 1 is replaced by the following:
1 Notwithstanding the provisions of chapters I to IV and regulations V/18, 19 and 20:
.1 a high-speed craft constructed on or after 1 January 1996 but before 1 July 2002 which complies with the requirements of the High-Speed Craft Code, 1994 in its entirety and which has been surveyed and certified as provided in that Code shall be deemed to have complied with the requirements of chapters I to IV and regulations V/18, 19 and 20. For the purpose of this regulation, the requirements of that Code shall be treated as mandatory.
.2 a high-speed craft constructed on or after 1 July 2002 which complies with the requirements of the High-Speed Craft Code, 2000 in its entirety and which has been surveyed and certified as provided in that Code shall be deemed to have complied with the requirements of chapters I to IV and regulations V/18, 19 and 20."