Section 188.05-3 - New vessels and existing vessels for the purpose of application of regulations in this subchapter(a)New vessels. In this application of the regulations in this subchapter, a new vessel is meant to be one, the construction of which is contracted for on or after March 1, 1968, or the major alteration of a vessel is contracted for on or after March 1, 1968, or the conversion of any vessel not previously inspected and certificated by the Coast Guard which is contracted for on or after March 1, 1968.(b)Existing vessels. In the application of the regulations in this subchapter an existing vessel is meant to be one which is holding a valid certificate of inspection as an oceanographic research vessel on March 1, 1968.(c)Other vessels. When it is desired to have a vessel, which has been used in trade or for recreational purposes, initially inspected and certificated as an oceanographic research vessel on or after March 1, 1968, such vessel shall be subject to all the requirements governing a vessel contracted for on or after March 1, 1968. However, if such vessel has a current certificate of inspection as a passenger, tank, cargo, or miscellaneous vessel, the Commandant may authorize its inspection and certification under this subchapter as a vessel contracted for prior to March 1, 1968, subject to those requirements necessitated by change in service.CGFR 67-83, 33 FR 1113, Jan. 27, 1968, as amended by CGD 77-081, 46 FR 56204, Nov. 16, 1981