You would, but only if it was actually issued to
you, and only if you wear
ALL of the issued kit (including, e.g., your issued helmet and body armour).
Quote:
5.2.7. Competitors must not be permitted to commence a course of fire wearing:
5.2.7.1. 5.2.7.2. 5.2.7.3. 5.2.7.4.
A shoulder holster or "tie-down" rig (visible or otherwise), except as specified in Rule 5.2.8,
A holster with the heel of the butt of the handgun below the top of the belt, except as specified in Rule 5.2.8,
A holster with the muzzle of the handgun pointing further than 1 meter from the competitor's feet while standing relaxed,
A holster which does not completely prevent access to, or activation of, the trigger of the handgun while holstered.
5.2.8. Competitors deemed by the Match Director to be active law enforcement officers or military personnel may be entitled to use their duty holsters and allied equipment however, the Range Master will remain the final authority in respect of the safety and suitability of using such equipment at IPSC matches.
5.2.8.1. Competitors deemed by the Range Master to be permanently and significantly disabled may be given special dispensation in relation to the type and/or placement of their holster and allied equipment, and the Range Master will remain the final authority in respect of the safety and suitability of using such equipment at IPSC matches.
5.3. Appropriate Dress
5.3.1. The use of camouflage or other similar types of military or police garments is discouraged. The exception are competitors who are law enforcement or military personnel. The Match Director will be the final authority in respect of what garments must not be worn by competitors.
<http://www.ipsc.org/pdf/RulesHandgun.pdf>
IPSC RULES
<http://www.ipsc.org/rules/>