Own the rights?
A topless mermaid is shown in a scene, though her hair covers her breasts.
The "Captain Hook" character had his hand cut off by Peter Pan, and that hand was eaten by a crocodile, prior to the start of this film. This is referred to often in the dialog, and Captain Hook is often frightened by the crocodile which chases him, from time to time, because it wants to eat the rest of Captain Hook.