(1) The owner or master of a ship shall, so far as reasonably practicable, ensure that all charts, log books and other records and documents that are important to an accident that is reportable under section 252 of the Act or a notice under section 299 of the Act are kept and that an alteration is not made to an entry, and any equipment which is important to an accident is, so far as is reasonably practicable, preserved, until —
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(a) a notice is received from the Director that a safety investigation must not take place or that the safety investigation is completed;
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(b) three months have passed after the Director received the report or notice and a notice has not been sent by the Director indicating that he or she has decided to investigate the matter; or
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(c) the person holding the preliminary inquiry, the Wreck Commissioner or an inspector gives written notice that he or she does not require the record and document.