The rule about 'no lights' applies to vehicles with no lights, and to vehicles where any lights are covered or painted over. The vehicle in (my) question is clearly carrying two lights on the front mudguards. In brief the law says 'nothing or a full set'.
I know of no option of registering a vehicle 'for day use' but of course a vehicle with no lights is not lawful to use when lights are required.
I draw attention to the fact that the Reg Number displayed is not a vintage type (two letters and up to four numbers) which would be appropriate if a vehicle was intended to be as originally used. Instead, it carries a two letters, two numbers, three letters plate, as used post 2000 only, and the numbers designate the year of registration, in this case 2012.
And I also note several claims and assumptions made in response to my comments, which do not match any of the regulations I have studied – which helps to confirm my view that this is a complex area of law and some authoritative clarification would be useful.
Whether this is for ME is a decision for the editor.
Cheers, Tim