Regardless of what the exact letter of the regulations are, the key point that nobody has yet made that is probably holding this back is universal acceptance of a single rule set across all the countries participating. Historically politics and local influences have had far more to do with that.
At the moment the FIA's GT3 rules are coming close to this. Another that is working is the ACO's regulations, adopted in LMES, ALMS and the JLMS (Japan) but again, the ALMS have adopted its own parity outside the ACO's precise regulations that have upset Audi/Aston Martin.
An LMP3 European or world championship would be great but on the national level there'll always be some kind of rule bending to suit a local manufacturer or a local racer who has money to race but not quite enough to adopt to worldwide rules.
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