Section 1H. In addition to the types of vehicles that may be registered under chapter 90, the registrar of motor vehicles may issue a registration for a motor vehicle meeting Federal Motor Vehicle Safety Standards for that particular class of vehicle, other than a low-speed motor vehicle, if the vehicle is designed by its manufacturer to be operated on public ways and its speed on a paved level surface can exceed 30 miles per hour but is not capable of exceeding 40 miles per hour, as may be determined by the registrar. The registrar may adopt reasonable rules and regulations concerning requirements for registration, equipment, inspections and insurance for such vehicles. Every person authorized and registered to operate such a vehicle upon a way shall not operate the vehicle in excess of 40 miles per hour and shall have the right to use all public ways in the commonwealth except limited access or express state highways where signs specifically prohibit bicycles, mopeds or low-speed vehicles have been posted and shall not operate the vehicle on a portion of a way where the speed limit increases beyond 40 miles per hour. This shall not prohibit a vehicle described in this section from crossing a public way at an intersection where the public way to be crossed has a posted speed limit between 40 and 55 miles per hour, provided the public way the vehicle is traveling on and the public way the vehicle is crossing the intersection to, both have a speed limit no higher than 40 miles per hour and the intersection is controlled by traffic signals or stop signs. Such limitations as to the vehicle’s limited use of public ways may be conspicuously printed on the registration certificate of the vehicle by the registrar. The registrar may issue a distinctive registration plate for such vehicle indicating its speed restrictions.