(a) Vessels contracted for prior to January 1, 1962, shall meet the following requirements:

(1) The provisions of §§34.50-5 through 34.50-15 shall be met with the exception that existing installations may be maintained if in the opinion of the Officer in Charge, Marine Inspection, they are in general agreement with the degree of safety prescribed by table 34.50-10(a). In such cases, minor modifications may be made to the same standard as the original installation: Provided, That in no case will a greater departure from the standards of table 34.50-10(a) be permitted than presently exists.

(2) [Reserved]

(b) [Reserved]