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ABOUT THE AMERICA'S CUP | AC XXX FACT SHEET
AC XXX PROTOCOL | DEED OF GIFT | REGATTA HISTORY
AMERICA'S CUP TRIVIA

The America's Cup is governed, in part, by a protocol, which is a legal document signed by the defender and challenger of record, establishing a more detailed set of rules for the event than those outlined in the orginal Deed of Gift.

ARTICLES 1-11 || ARTICLES 12-15 || ARTICLES 16-27

Introduction

April 23, 1996

  1. On 12 May 1995 The Royal New Zealand Yacht Squadron ("RNZYS") issued a Protocol ("Original Protocol") on the basis that should it successfully challenge for America's Cup XXIX the Protocol would govern America's Cup XXX.
  2. In a letter of challenge by the New York Yacht Club ("NYYC") dated 13 May 1995 the terms of the Original Protocol were accepted by NYYC as governing its challenge for America's Cup XXX.
  3. On 24 November 1995, RNZYS and NYYC amended the Original Protocol to provide that RNZYS and the Challenger of Record might from time to time, if they thought it appropriate, agree to amend any of the provisions of the Original Protocol.
  4. RNZYS, and NYYC as the Challenger of Record, have agreed that it is appropriate to amend various provisions of the Original Protocol and that this Protocol shall replace the Original Protocol dated 12 May 1995 (as amended on 24 November 1995) and, together with the letter of challenge by NYYC dated 13 May 1995, shall govern the challenge for America's Cup XXX.

ARTICLE 1: ACCEPTANCE OF CHALLENGERS

RNZYS will accept all bona fide notices of challenge from qualified foreign yacht clubs ("Challengers") delivered within one year from the final day of racing for America's Cup XXIX (the "Final Race"), provided such Challengers agree to be bound by this Protocol and all subsequent decisions pertaining thereto. For the purposes of the Deed of Gift, all such challenges ("Challenges") will be deemed to have been received at the same time, being the time that the first notice of challenge is received.

All notices of challenge and the amount equal to the entry fee as specified in Article 3 must be received by RNZYS no later than 17.00 hours on 14 May 1996 New Zealand standard time. As a further requirement, the entry fee must be payable to RNZYS in cleared funds in US dollars and deposited into a bank account to be nominated by RNZYS.

Late challenges may be accepted by RNZYS until 17.00 hours on 14 May 1997 New Zealand standard time if RNZYS is satisfied that the spirit and intent of this Protocol has been complied with by the proposed Challenger until the date of the late challenge and the proposed Challenger has declared in writing that it has until that time complied with the spirit and intent of this Protocol and will beyond that time agree to be bound by this Protocol and all subsequent decisions pertaining thereto. For the purposes of the Deed of Gift all late Challenges accepted will be deemed to have been received at the same time as all the other Challenges. Late Challengers will be required to pay an amount equal to double the entry fee and meet any other requirements imposed on all Challengers subsequent to their entry.

All notices of late challenge and the amount equal to double the entry fee specified in Article 3 must be received by RNZYS no later than 17.00 hours on 14 May 1997 New Zealand standard time. As a further requirement, the entry fee must be payable to RNZYS in cleared funds in US dollars and deposited into a bank account to be nominated by RNZYS.

ARTICLE 2: QUALIFIED CHALLENGERS

To be a qualified foreign yacht club for the purposes of Article 1 above that club shall, as at the earlier of the date on which it delivers its challenge and 14 May 1996, meet each of the following criteria:

it must have an elected Board of Directors or Officers;

it must have been in existence for a minimum of five years;

it must maintain a membership of at least 200 members;

it must be financially supported by a majority of its membership on a pro-rata basis;

it must operate as a yacht club and have objectives consistent with the furtherance of yachting activities; and

it must be a member of the national authority which represents its country in the International Yacht Racing Union.

Provided that subparagraph (b) of this Article 2 shall not apply to those yacht clubs which were both accepted as valid Challengers and participated in the Challenger Selection Series for America's Cup XXIX.

ARTICLE 3: ENTRY FEES AND PERFORMANCE DEPOSITS

All Challenges shall be accompanied by a US$100,000 non-refundable fee. US$75,000 of this fee shall be for use by the Challengers and shall be held in a separate account from RNZYS normal operating accounts until written instructions regarding disposition are received by RNZYS from the Challenger of Record. US$25,000 shall be conveyed to America's Cup Properties Inc. for defraying costs associated with maintenance of America's Cup Properties Inc ("ACPI"). and the preservation of the America's Cup mark and the image and silhouette of the America's Cup world-wide as deemed necessary and approved by ACPI. ACPI shall make quarterly reports to the Challenger of Record regarding the disposition of the funds received from Challengers.

The Challengers may, by a majority vote, require additional funds from each Challenger in the form of cash, a performance bond, or a letter of credit for the purpose of assuring an individual Challenger's participation in the Challenger Selection Series for the America's Cup. These funds or financial instruments may be required at such time and in such amount as agreed by a majority vote of the Challengers and subject to the approval of RNZYS.

As well as the amount of US$75,000 the Challengers shall share equally all further costs of the Challenger Selection Series and other activities of the Challengers as a group associated with the challenge for America's Cup XXX. Such costs shall be offset from money raised from Challenger group sponsorship activity.

ARTICLE 4: CHALLENGER OF RECORD

The first Challenge was received by RNZYS from NYYC in a letter of challenge dated 13 May 1995, and NYYC has been appointed by RNZYS as the Challenger of Record ("Challenger of Record"). The Challenger of Record shall represent all Challengers whose notices of challenge are accepted under Article 1.

ARTICLE 5: PROVISION FOR CHALLENGER OF RECORD COMMITTEE

If at any time the Challenger of Record wishes to relinquish its position as Challenger of Record the Challengers shall meet either to appoint one of them as Challenger of Record or alternatively to organise a Challenger of Record Committee, provided the terms of reference (charter) of such a committee are approved by RNZYS. All Challengers as of the date of the meeting shall be entitled to attend and have one vote each. If any one yacht owner, or party related thereto is involved in more than one challenge, that owner or party shall be excluded from being represented in such election by more than one Challenger. If the Challengers are unable to elect a new Challenger of Record or organise a Challenger of Record Committee within 30 days of the date of the meeting, then within the following 30 days the America's Cup Arbitration Panel shall appoint a new Challenger of Record. Until a new Challenger of Record is elected or appointed, or a Challenger of Record committee is organised, the Challenger of Record shall remain the Challenger of Record for the purposes of this Protocol.

ARTICLE 6: INITIAL MUTUAL CONSENT

The Challenge received by RNZYS from NYYC, as well as other items required by the Deed of Gift, has specified the class of yacht for the America's Cup XXX Match ("Match"), and contained proposals for the dates, the number of races, and the types of courses. RNZYS has consented to the class of yacht and the other proposals put forward by NYYC.

ARTICLE 7: RACE CONDITIONS

RNZYS and the Challenger of Record shall agree the Notice of Race and Conditions and the Sailing Instructions governing the races for America's Cup XXX (together "the Conditions"). The Conditions, with such modifications as are necessary to accommodate such matters as dates, times, the number of Challengers and the number and series of races, shall also govern the races for the Challenger Selection Series and, if there is one, the Defender Selection Series provided that the modifications shall be subject to the approval of RNZYS which shall ensure that they are equitable to all Challengers. The Conditions shall be finalised by 31 December 1996. RNZYS and the Challenger of Record will endeavour to resolve any differences between them as to the terms of the Conditions through negotiations. If by 31 December 1996 such negotiations have been unsuccessful and the Conditions have not been finalised then the America's Cup Arbitration Panel shall commence mediation of all such differences. If that mediation is unsuccessful then the America's Cup Arbitration Panel shall, no later than 31 March 1997, decide the unresolved issues on which RNZYS and the Challenger of Record differ by choosing between the respective positions of RNZYS and the Challenger of Record on those issues and the Conditions governing the Match will be determined accordingly. Each of the Challengers and RNZYS will, no later than 14 May 1997, sign the Conditions and acknowledge that those conditions shall govern the races in the Challenger Selection Series, the Defender Selection Series, if there is one, and the Match.

ARTICLE 8: CHALLENGER SELECTION SERIES

Preceding the Match, the Challenger of Record shall organise and conduct a Challenger Selection Series for all Challengers, at the venue in the coastal waters of New Zealand specified under Article 11, under the Conditions agreed under Article 7. The winning yacht club and its winning yacht shall become the Challenger under the Deed of Gift for the Match with RNZYS, provided that the winning Challenger shall not be eligible and shall not be accepted by RNZYS as the Challenger under the Deed of Gift unless it shall declare in writing that it has until that time and will beyond that time comply with the terms of the Conditions, this Protocol, the Deed of Gift, the Interpretive Resolutions and the decisions of the America's Cup Arbitration Panel. Should the winning yacht club and its winning yacht of the Challenger Selection Series be for any reason ineligible to be the Challenger then the yacht club and its yacht which has placed second in such Series, or failing the eligibility of that yacht club and its yacht, the yacht club and its yacht which has gained the next highest place in the Series which is eligible, shall become the Challenger provided that in each case no Challenger shall be accepted as Challenger under the Deed of Gift unless it shall declare in writing that it has until that time and will beyond that time comply with the terms of the Conditions, this Protocol, the Deed of Gift, the Interpretive Resolutions and the decisions of the America's Cup Arbitration Panel.

ARTICLE 9: COMMON DECLARATION OF YACHTS FOR AMERICA'S CUP XXX

RNZYS and the Challenger of Record agree to name the yacht clubs and those club's respective yachts which will participate in the finals of the Challenger Selection Series and, if there is one, the finals of the Defender Selection Series, at least four clear days prior to the first race of such finals and agree to have each nominated yacht involved in a public unveiling ceremony on an agreed date at least three clear days prior to the first race of the finals of the Challenger Selection Series for those yachts participating in that Series and at least three clear days prior to the first race of the finals of the Defender Selection Series, if there is one, for those yachts participating in that Series. If there is no Defender Selection Series then RNZYS may nominate one or two yachts which will be involved in a public unveiling ceremony on the agreed date at least three clear days prior to the first race of the finals of the Challenger Selection Series on which the yachts participating in the Challenger Selection Series are publicly unveiled.

In addition, the challenging and defending yachts for the Match will be part of a public unveiling ceremony which will be held three clear days prior to the first day of the Match. If RNZYS only nominated one yacht to be involved in the public unveiling ceremony which takes place prior to the first race of the finals of the Challenger Selection Series, that yacht shall be the defending yacht. If RNZYS nominated two yachts to be involved in the public unveiling ceremony which took place prior to the first race of the finals of the Challenger Selection Series, then RNZYS may select in its absolute discretion one of those two yachts to be the defending yacht. Both the challenging and defending yachts must have been through the official pre-match measurement provided for in Article 10 and have been accepted by RNZYS as Challenger and Defender for America's Cup XXX prior to the date of the public unveiling ceremony for the Match.

Underbodies may be shrouded until the yachts have been measured, accepted, and unveiled for the finals in a Selection Series or, in the case of defending yachts if there is no Defender Selection Series, until the public unveiling ceremony prior to the finals of the Challenger Selection Series. Underbodies may not be shrouded after the yachts have been so unveiled until, in the case of a challenging yacht, during the period between the conclusion of the final race in the Challenger Selection Series and the public unveiling ceremony before the Match and, in the case of a defending yacht, until the earlier of the conclusion of the final race of the Challenger Selection Series and the expiry of a period of seven days from and inclusive of the day on which the first race in that Selection Series was scheduled to be held, when underbodies of competing yachts may again be shrouded. Underbodies may not be shrouded again after the yachts have been measured and unveiled for the Match.

RNZYS agrees that if it is the eventual winner of the America's Cup XXX regatta, it will continue the common declaration provisions set forth in this Article 9 so long as it continues to hold the America's Cup. Each Challenger agrees that if it is the eventual winner of the America's Cup XXX Match, it agrees to continue the common declaration provisions set forth in this Article 9 so long as it continues to hold the America's Cup.

ARTICLE 10: MEASUREMENT OF YACHTS FOR AMERICA'S CUP XXX

Prior to the public unveiling ceremonies for the finals of the Challenger Selection Series and the Defender Selection Series, if there is one, and for the Match, the yachts participating in each series or the Match, shall be remeasured (even though they then have a valid measurement certificate) and the resulting measurement certificate or revalidated measurement certificate shall be marked on the front page thereof as the "Unveiling Measurement Certificate". If there is no Defender Selection Series then, prior to the public unveiling ceremonies on the agreed date at least three clear days prior to the first race of the finals of the Challenger Selection Series in which the nominated defending yacht or yachts are to be involved, the yacht or yachts shall be remeasured (even though they then have a valid measurement certificate) and each resulting measurement certificate or revalidated measurement certificate shall be marked on the front page thereof as the "Unveiling Measurement Certificate".

After an Unveiling Measurement Certificate has been issued in respect of a challenging yacht, no changes may be made to that yacht which would invalidate that certificate until the conclusion of the last race in the Challenger Selection Series. After an Unveiling Measurement Certificate has been issued in respect of a defending yacht, no changes may be made to that yacht which would invalidate that certificate until the conclusion of the last race in the Defender Selection Series, if there is one, or if there is no Defender Selection Series, until the earlier of the conclusion of the final race of the finals of the Challenger Selection Series and the expiry of a period of seven days from and inclusive of the day on which the first race in that Challenger Selection Series was scheduled to be held. In the case of the Match, no changes may be made to that yacht which would invalidate that certificate until the conclusion of the last race in the Match. Provided that in any case changes may be made to a challenging or defending yacht which would otherwise invalidate that yacht's Unveiling Measurement Certificate:

when those changes are required by the Measurement Committee to enable a yacht to comply with the International America's Cup Class ("IACC") Rule; or

in the case of unintentional damage beyond that covered in IACC Rule 49.3(b), when the IACC Technical Director and the International Jury Chairman or their delegates approve the repairs as necessary in accordance with International Yacht Racing Rules ("Racing Rules") 70.4 and 20.2 thereby altering those rules.

ARTICLE 11: SITE AND TIMING OF AMERICA'S CUP XXX

America's Cup XXX will be held in the coastal waters of New Zealand. The Match will be held in late February/early March 2000 with the Challenger Selection Series being held in late 1999 early 2000. The precise venue and the precise dates of the Match will be announced by RNZYS within one year from the Final Race, subject, however, to any changes in the venue and/or those dates which may be agreed by RNZYS and the Challenger of Record.

ARTICLES 1-11 || ARTICLES 12-15 || ARTICLES 16-27


ABOUT THE AMERICA'S CUP | AC XXX FACT SHEET
AC XXX PROTOCOL | DEED OF GIFT | REGATTA HISTORY
AMERICA'S CUP TRIVIA


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