(a) an application for registration of the ship in Hong Kong under the Act was made before the commencement date and, immediately before that date, was not yet determined; and
(b) the requirements of the Act preliminary to such registration have been complied with,
(i) the application shall be deemed to be an application for registration of the ship under this Ordinance;
(ii) the ship shall be deemed to be registrable; and
(iii) the requirements of this Ordinance preliminary to registration shall be deemed to have been complied with.
(2) Nothing in subsection (1) shall affect any liability to pay any fee or charge pursuant to regulations made under section 90.