The old 20rd PMAGS are straight and would be allowed. Magpul doesn't make them any more.
Current production 20rd PMAGS are curved.
The rules state that, "Standard service 20-round magazines are straight, without curves."
So it's my understanding that the new curved 20rd mags would not be allowed.
Here's a link to the CMP rules...
http://www.thecmp.org/Competitions/Rulebook.pdf
CMP COMPETITION RULES FOR SERVICE RIFLE AND SERVICE PISTOL
18th Edition—2014-2015
6.2.3 U.S. Rifle, Caliber 5.56 mm, M16
The rifle must be an M16A2 or M16A4 rifle issued by the U.S. Armed Forces
or a commercial rifle of the same type and caliber. M16 rifles must be
chambered for the 5.56 mm cartridge and comply with the following specific
requirements:
•
Modification to make automatic fire impossible without removing,
replacing or altering parts is allowed.
•
Metal or synthetic (polymer) magazines with standard service 20 or 30-
round box magazine dimensions must be attached during the firing of all
courses and in all positions. A 10-round magazine with the same
external dimensions as a standard service 20-round box magazine may
be used. A dummy magazine with a ramp for single shot loading may be
used if this magazine has the same external dimensions as the standard
service 20-round box magazine. Standard service 20-round magazines
are straight, without curves. Standard service 30-round magazines are
curved.