Flying Lawyer,
I have checked out your references and agree that doing a run and break would not constitute a display thus no authorisations required.
However, with regard to Rule 5, I am not sure if I understand where you are approaching the matter from.
Let us consider that a pilot intends to complete a run and break at an airfield. The pilot descends to 500ft QFE some 1nm from the threshold and maintains that height until the upwind end of the runway whereup they complete a climbing turn to join the circuit.
Let us also consider that during the run in, the aircraft passed within 500ft of - A doubble decker bus on a road .5 mile from the airfield, A tractor near the airfield boundary and a pilot observing the action from the ground on the airfield.
Now IMHO, the run and break is not taking off or landing in accordance with normal aviation practice. (Just like closing the throttle to simulate EFATO isn't either). Thus there is no exemption to the 500ft rule available so I would consider that the pilot above infringed the rule in all three cases.
I am sure that you have better understanding of rule 5 with regard to a run and break and would like to understand where my points above are wrong.
However, leaving the legalities aside, it is very funny to compare the following and the diffeent reactions:
A.
High speed aircraft joins at high speed into the overhead, completes wide fast circuit and missed approach at the threshold consisting of level flight at 50ft along the runway before climbing to rejoin the circuit (at a lower speed).
B.
Aircraft completes the same as above and calls it a run and brerak!!
I could bet that A. would not cause any reaction while B. gets everyone worried.
DFC