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...self-propelled bus type chassis having no fewer than three load-bearing axles...
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Gotta love legalese. What is even a 'self-propelled bus type' chassis? Microbus? Monocoque coach? Ladder frame school bus? ...that's a big enough loophole for a lawyer to drive a Mercedes through.
This COE bus -- what will it have at the rear? A ramp for the race car? Could you bob the rear end in the conversion?
Take off the bumper and permanently attach a single wheel trailer with a brake. Presto -- an articulated bus.