I'm usually a reader-only at this forum but I remembered seeing some information on this issue so I thought it could be worth posting.

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ISAF Sailing Committee Minutes for April 2004 meeting

[color:"brown"]5. QUICK RELEASE TRAPEZE HARNESSES
(a) November 2003 Council Minute[/color]
The Committee noted the Council minute which read:
"Council approved the proposal that competitors must make sure that trapeze or hiking vest hooks must have a quick release of the hook that quickly and mechanically allows the sailor to detach the hook completely from the plate to which it is attached."

[color:"brown"](b) Currently available equipment[/color]
The Committee received a summary of known currently available equipment and presentations from representatives of Sea Sure(800 units sold), Wichard (prototype-available December 2004) and Milan University (prototype). Examples of RWO (300 units produced) and Bethwaite (2,500 units produced) products were also viewed.

[color:"brown"]Recommendation to Council[/color]
The Sailing Committee endorses the general intent of the Council minute. Several workable designs are available or coming to the market but the technology is still developing. One of the devices demonstrated did not involve the complete detachment of the hook whilst another did not involve a hook at all. The Sailing Committee was also informed that there could be some patent issues regarding quick release hook mechanisms. Council are asked to consider whether at this stage use of this equipment is best promoted by education or through legislation. With legislation comes the probable need for setting standards and for equipment approval, which would inevitably involve some administrative responsibilities and potential legal liabilities. These implications should be thoroughly understood before a legislative route is taken.
Further experience with the systems is required before the Sailing Committee could say that this is a major improvement in personal safety.


Evidently they decided on legislation rather than education.
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http://www.sailing.org/meetings/2004november/papers/SC_11b.pdf

[color:"brown"]QUICK RELEASE TRAPEZE HARNESSES[/color]
Council Mid-Year 2004 Minute 6 (ll)

[color:"brown"](a) Hook Quick Release System – Submission 186-03[/color]
Consistent with minute 3(n)(i) of the Council minutes, 14-15 November 2003, Council received a recommendation from the Constitution Committee to delay implementation of the policy on the ‘hook quick release system’. In addition, Council noted that the Sailing Committee had reviewed a summary of known currently available equipment and received presentations from manufacturer representatives. Several workable designs are available or coming to the market but the technology is still developing. Council therefore noted the recommendation from the Sailing Committee that ISAF should do further research into the available systems.

[color:"brown"]Decision[/color]
(i) On a proposal by Charles Cook (Group P – North America), seconded by David Tillett (Group L – South West Pacific), Council unanimously approved the following:
[color:"brown"]a.[/color] that ISAF adopt a new racing rule 40.2 which will require that any harness or trapeze must have on it a device capable of quickly releasing the competitor at all times that means while the boat is capsized or turned turtle or if there is an emergency and the competitor needs to release himself.
[color:"brown"]b.[/color] That the original implementation date approved by Council (immediate) be changed to 1st January 2006 to allow the market more time to develop the products.

It is worthy of note that the November 2003 wording may have outlawed key and ball systems. In my opinion, this and possible legal issues, are the reason that the final wording of the rule is far less prescriptive on the nature of the "quick release mechanism".

There would have been far less confusion if the final rule had used wording similar to paragraph a of the decision.

Clearly, the intent of the rule, when read with the minutes in mind, is to outlaw current hook and ring systems.

--Quick Release Products--

Sea-Sure Quick Release Trapeze Hook

RWO Quick Release Trapeze Hook

Bethwaite Keyball Trapeze System