Understandd however that we are aiming for an Open Class that can harbour innovation. While every boat may not be equal (some being more equal than others), each boat has the opportunity to be equal.
This statement of your intention makes the most sense after looking at your rules.
I suggest you change the name from Formula 20,, to Open 20 or Development 20, or Level rated 20.
In the cat world... Formula has been defined by the Formula 18 class. The term Formula references a fairly tight set of rules (if not an actual formula) and does not quite match your intention (Open Class?) in my opinion. Just one of those suggestions....
(I also think you should try an interim entry in the PN tables... It makes life A Lot easier for scorekeepers using wind speed ratings.)