Certain concepts, words, and ideas cannot be protected or monopolized legally. "World Championships" is one such concept. It sounds like the international sailing organization uses scare tactics to assure control. True control comes from offering a service that benefits those willing to play by the controlling body's rules. So there's surely no LEGAL reason not to hold a Taipan World Championship.
Having said that, my own perspective is that holding a race with lots of boat from Australia and a few boats from Thailand or Singapore really isn't a "world" championship. You could call it that, but only a sliver of the world is represented. In Soccer, a tournament between 3 or 4 countries wouldn't be considered a World Cup. Yes, it would be an international event (inter-nation-al=between nations), but not WORLD, as in many nations or continents involved.
Based on what I'm reading here on on the Yahoo Taipan list, it may be difficult to meet the international body's rules to be able to hold an officially sanctioned Taipan world championship. Just not enough boats on enough continents. Most of the boats are in Australia. One way around this is to just thumb your noses at the international body. But it still isn't much of a "World" championship.
How about another approach:
Focus all efforts on getting the F16HP class officially and internationally recognized, set up the necessary organization for preparatory contests, and look forward to an official and internationally sanctioned F16HP WORLD CHAMPIONSHIP. At this point, most of the boats are still Taipans, but it would allow inclusion of many other continents with their (small but growing) classes. Sure, the Taipan sailors would have to sail with spinnakers (oh, gee, twist my arm). Expanding the F16 concept will likely sell more Taipans on more continents. Its relative longevity speaks for itself already. And it would add excitement and flavor to see other "marques" competing and innovating.