Minimum safety equipment standards described in Chapter 6a, Part 16, Vehicle Equipment, do not apply to a classic vehicle properly registered under Chapter 1a, Motor Vehicle Act, if:
(1) the original equipment on the vehicle at the time of the vehicle's manufacture:
(a) is in good operating condition; or
(b) has been replaced by equal or more efficient equipment in good working order; and
(2) an individual operates the vehicle in a manner that does not constitute a public nuisance or create a hazard to another motor vehicle or person.