I would say you would get away with it only because the number hasnt changed on the rego papers, but that is how you change the chassis number on a stolen car so it is rebirthing. Take a legit number and cut it into a stolen chassis and swap the tags and the vehicle is rebirthed.
Why would you do it though? Not much to be gained from keeping a HZ ute matching numbers anyway. A Sandman maybe.

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They were stamping blank Chassis' from Holden, not previously stamped chassis'.