((a)) ** .—** A program participant for a vessel included in an operating agreement under this chapter may operate the vessel in the foreign commerce of the United States without restriction.

((b)) ** .—** The restrictions of concerning the building, rebuilding, or documentation of a vessel in a foreign country shall not apply to a vessel for any day the operator of the vessel is receiving payments for the operation of that vessel under an operating agreement under this chapter.

((c)) ** .—** The telecommunications and other electronic equipment on an existing vessel that is redocumented under the laws of the United States for operation under an operating agreement under this chapter shall be deemed to satisfy all Federal Communications Commission equipment approval requirements, if—

((1)) such equipment complies with all applicable international agreements and associated guidelines as determined by the country in which the vessel was documented immediately before becoming documented under the laws of the United States;

((2)) that country has not been identified by the Secretary as inadequately enforcing international regulations as to that vessel; and

((3)) at the end of its useful life, such equipment shall be replaced with equipment that meets Federal Communications Commission equipment approval standards.