To start the ball rolling . . .

You've just discovered why the Red Ensign is used so much in the
Mediterranean as a flag of convenience for pleasure yachts. There
are no statutory equipment rules apart from those specified in
colregs (lights, shapes and sound signal provisions). Some
equipments, if fitted, have to meet statutory requirements. I
guess that's where firefighting/lifesaving/radio statutes come in.

If, however, your yacht was being used for charter, there are a
lot of detailed requirements, though I don't know whether this is
enforced through statute or through administrative procedures -
nor how it is policed.

Snip
The UK Yacht Charter Association has standards for equipment required for
the different classifications. I believe that for world-wide use the class
is "A".

There is currently no completed website describing the equipment
requirements for the different classes, so it would be necessary to contact
the Association by phone and obtain literature.

The Association requires an annual inspection by an approved surveyor in
order to maintain membership in the class to which the vessel is registered.
The Association has recently been incorporated into the MLA (Marine Leisure
Association), phone 0044 (0)23 8029 3822.