The proposed scheme sound exactly like the Historic/LH Drive conditional rego scheme that we currently have in SA, except the age requirement is 30 years.
I have had a few of my old Honda bikes registered under the SA scheme at about $100 pa. I currently have my 1964 S600 Honda (car) registered and it costs $115 for 12 months, and you have the option of paying 1, 2 or 3 years at a time.
I will be see my club rego officer, in the near future to see if he will allow me to put the XT500C that I use in reliability trials on historic rego, and I may have problems as the rules do not allow much in the way of modifications, and the XT is far from standard.
There has also been a clamp down on the membership requirements for clubs here. It seems that a lot of people were joining classic/historic clubs just to get the "cheap" rego and never attending any club meetings or events. The federation bought in a rule that members must attend at least 3 meetings / events per year to be eligible to have a vehicle on historic rego, and we are required to sign an attendance log at each meeting / event. If you don't attend the required number you will not have you rego endorsed the following year and without the club endorsement your rego is invalid.
CJ