Ok I'll bite, seeing I was being economical with my words before:
Some R32s were brought in under the old 15 year rule, if that is the case, they won't have a compliance plate on them. The ones that were brought in under a compliance scheme WILL have one.
No R33s came in under the 15 year rule, so they should ALL have a compliance plate of some kind.
Compliance plates issued under SEVS or the system that preceded it are issued by Canberra, not by Regency, and they are virtually impossible to replace.
Regency started issuing its own plates in recent times to cars that have come in under the 15 year rule, so that police officers could better identify cars that weren't meeting the road regs.
So as I said, if an R33 doesn't have a compliance plate on it, regardless of whether or not it's registered or anything else, I would steer clear. Chances are you may never get pulled over, but if you struck a smart cop on the wrong day, you would, at the very least, have to take it over the pits at Regency, or at worse, end up with another track-only car that could never be registered again.