My understanding is that a transportable can either be registered to a ships licence (where the MMSI identifies a particular vessel), or to an individual (where the MMSI is issued to a person). Either way why not call OFCOM and ask them, I have always found them exceeding knowledgable and helpful. It may be that you have no option but to get the handheld reprogrammed, but at least you will know.
Whatever you do don't use it with the wrong MMSI number in it as that could be a matter of life or death (and also will no doubt get you into loads of bother with OFCOM if you do survive the shipwreck
Chris