The Ulster Schools' Challenge Cup is an annual competition involving schools affiliated to the Ulster Branch of the Irish Rugby Football Union. The Schools' Cup has the distinction of being the world's second-oldest rugby competition, having been competed for every year since 1876. The trophy itself is a three-handled silver cup with a plinth mounted on a large shield. Methodist College Belfast have won the most titles with 39 wins – 37 outright wins and 2 shared. Format The Schools' Cup was reformatted in 2003/04. Previously teams defeated in the first round would enter the Subsidiary Shield competition, teams losing in later rounds would find their season over. All entrants, except those who drew byes, entered in the first round of the competition. It was felt that this could lead to significant mismatches. The reformatting sought to avoid this and to extend the amount of meaningful rugby played by school teams. The first round was changed to act as a qualifying stage for weaker teams and first round losers entered a new Schools' Trophy competition. The bulk of the teams entered the competition in the second round where they were joined by the first-round qualifiers. Teams losing at this stage are entered into another new competition, the Schools' Bowl. In the third round, four seeded teams entered the fray. Third-round losers entered the Subsidiary Shield, renamed the Schools' Shield. The Subsidiary Shield was first introduced in 1971. It did not have its own trophy until 1980 when the Headmaster of Grosvenor High School and then Ulster Branch President Ken Reid presented the Grosvenor Shield. The remaining teams contest for the Schools' Cup proper, the semi-finals and final of which are played at Ravenhill Stadium, the Ulster Branch HQ and home of the Ulster side. The competition format was changed again in 2005/06. The first round was a round-robin competition involving three teams. The winner from this joined eleven other teams in the second round. The six winners from the second round joined ten more teams in the third round; the second round losers competed for the Schools' Trophy. The eight third-round winners proceeded to the fourth round where they were joined by eight seeded teams. The third-round losers competed for the Schools' Bowl. The fourth round proceeded as per the old third round. The increased number of competitions means that schools which are very unlikely to win the main competition