No just a local gym advertising to other MA schools, I'll see if I can get more info
kenshin pretty much nailed it, imagine an amped up game of tag, with little to no resemblance of a fight.
point sparring is a game, and a decent training tool for beginner-intermediate (it does help to teach reading an opponent and timing), but do not delude yourself into thinking it's like real fighting, or that it breeds good fight habits. Treat it like what it is and you'll probably have a good time.
Everyone in this thread could be right or wrong. Ask your coach or the tournament organizer. Karate tournaments have a variety of rules.