(1) In this Part, unless the context otherwise requires,-
(a) "existing ship" or "existing vessel" means a ship or vessel which is not a new ship or a new vessel,
(b) "new ship" or "new vessel" means a ship or vessel whose keel is laid or which is at a similar stage of construction on or after the material date as defined in sub-section (2).
(2) For the purposes of sub-section (1) "material date";-
(i) in relation to an Indian ship, means the 21st July, 1968;
(ii) in relation to a foreign ship belonging to a country to which the Load Line Convention applies, means the date as from which it is declared under section 283 that the Government of such country has accepted the Load Line Convention or, as the case may be, that the said Convention has been applied to such country.]