I think they've just left the word 'monocoque' out of the first bullet point, which would clarify the intent. The second bullet point regarding new replacements, which does include the word monocoque, makes a clear distinction between separate chassis and unitary construction cars, so no, you can't put a Moggie Minor body on a drag-car chassis with a 900hp race engine and avoid the MOT.
I for one will still be presenting my home-built specials to my local MOT chappy for an annual and impartial mechanical inspection, both for safety's sake and because, at £29, it'll be a darn sight cheaper than paying his garage rates to check it over for me.
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