VF5:FS Tournament Rule Set?

Hey guys, I own a console gaming center that caters to the fighting game community in Las Vegas. I am throwing our first VF5:FS tourney, but have no idea on the rule set. What is the base game match point, time per match, etc. Also, any banned stages or characters? Is there a rule like loser can pick another stage or something? Haven’t played the game myself so I have no knowledge on the rules. Thanks.

-Tha Hindu

Default timer is 45 seconds
Default health is set to 240
matches are best out of 3 rounds
Loser can change character and/or pick a random stage, cannot directly pick a stage of choice.
Only banned character is Dural

Everything else is groovy.

thanks. I knew you have to win 3 rounds, I guess I just had a brain fart and typed the wrong thing. the life total was just a mistake, no excuse there at all.

Thanks much guys. Liked your posts for the much needed help :).

-Tha Hindu