UCI CYCLING REGULATIONS  2.15.088 The UCI WorldTeam must inform the UCI-appointed auditor without delay:  2.15.089 The financial auditor shall inform the Professional Cycling Council of any anomalies or  irregularities observed in the course of his audit in the context of licence and registration  applications as well as random audits.  2.15.090 The financial stability of the UCI WorldTeam must be ensured at all times, in particular  by adequate owner’s equity. The income deriving from the activities of the UCI  WorldTeam must be allocated exclusively to its operations or to the development of  cycling. The available profit in the balance sheet must be used in accordance with the  legal provisions in force in the country of the UCI WorldTeam. The allocation of the profit  must be decided after the annual accounts have been established and audited.  2.15.091 The cashflow situation of the UCI WorldTeam must be balanced at all times, taking  account of the credit facilities obtained.  2.15.092 Each UCI WorldTeam must establish a first-demand (abstract) bank guarantee in favour  of the UCI in accordance with the model in article 2.15.141.$_{ }$ 2.15.093 The guarantee shall be drawn up in English by a banking institution which can either  directly or through a correspondent bank transmit a SWIFT message to the UCI’s bank  (UBSWCHZH12A).  (text modified on 20.10.05; 1.07.10; 24.03.17).  (text modified on 1.01.15; 24.03.17; 1.01.18).  The bank guarantee must be established by the paying agent and submitted by the  issuing bank on behalf of the paying agent.  (text modified on 1.01.15).  The UCI WorldTeam must always avoid any arrears of payment.  Bank guarantee  No advance payment of profits may be made to beneficiaries during the course of the  year.  (text modified on 01.07.10; 1.01.15).  (text modified on 12.01.17).  (text modified on 1.01.15; 12.01.17).  In the event of a breach of this regulation a fine of between CHF 1,000 and 10,000 may  be imposed, without prejudice to the application of article 2.15.040 in the event of a  serious offence.  1.  of any significant changes in the annual budget, the cashflow plan or the  financial planning or of insolvency or risk of insolvency;  2.  of any risk, dispute or other circumstance liable to endanger financial stability;  3.  of the nonfulfillment, for whatsoever reason, of an obligation to a rider or another  member of the team.  E170421  ROAD RACES  209 