I second Bob G's comment AIS is a more useful safety addition. The race regulations may predate AIS, it may be helpful to ask the question. The race authority for your race can make an addendum to the NOR or SI's.... if they see fit.
Another option, there are lots of older boats ( like Soave ) that carry radar reflectors collapsed and stowed. You could borrow one for the race if you know anyone in your area that carries one.
Have fun racing ! You'll learn lots about sailing "CHEERS" when you sail her in a fleet.