UCI CYCLING REGULATIONS  2.13.153 The cash flow situation of the UCI Women’s WorldTeam must be balanced at all times,  taking account of the credit facilities obtained.  2.13.154 The paying agent acts as the licence holder and person responsible for managing the  UCI Women’s WorldTeam.  2.13.155 If the paying agent is not a principal partner of the team, the management of a cycling  team will be the paying agent's sole activity, unless an exemption is granted by the  licence commission.  2.13.156 The paying agent shall represent the UCI Women’s WorldTeam for all purposes as  regards the UCI Regulations.  2.13.157 The paying agent must be a trading company or other legal entity authorised by the law  in the country in which the company has its registered offices. 2.13.158 The paying agent may only act through the intermediary of the physical persons holding  a personal licence as set out in article 1.1.010.  2.13.159 The paying agent shall sign the contracts with the riders and the other persons under  contract for the operation of the team. They shall also sign contracts related to the team’s  income.  2.13.160 The paying agent must remain the same throughout the period of validity of the  UCI Women’s WorldTour licence, including during the period of any renewals, except  with the agreement of the UCI. The UCI may, if it deems necessary, refer them to the  licence commission in accordance with article 2.13.066.  2.13.161 The paying agent must manage all the operations of the UCI Women’s from a single  registered office. The registered office of the paying agent shall be established in the  country where the paying agent is subject to income tax and social security as an  employer for all activities related to the UCI Women’s WorldTeam. If the registered office  is moved to another country, the approval of the licence commission must be obtained  in advance.  2.13.162 The paying agent and the principal partners must inform the UCI and the auditor without  delay of the following: a change of registered offices, reduction in capital, change of legal  form or identity (due, for example, to merger or takeover), request for or implementation  of any agreement or any measure concerning all creditors.  2.13.163  The sponsors are the persons, firms or bodies who contribute to the funding of the UCI  Women’s WorldTeam. Among the sponsors, a maximum of three are designated as the  principal partners of the UCI Women’s WorldTeam.  2.13.164 The principal partner or partners must enter into a commitment to the UCI Women’s  WorldTeam for a number of complete calendar years corresponding to the duration of  validity of the licence. In the event the partnership contracts do not cover the entirety of  the licence period, the paying agent must obtain commitments from partners enabling  the operation of the UCI Women’s WorldTour licence for its full duration.  Sponsors and principal partners  Paying agent The UCI Women’s WorldTeam must always avoid any arrears of payment.  E170421  ROAD RACES  159 