What is the type of time-out called that is used to correct illegal equipment?

The type of time-out used to correct illegal equipment is known as a referee's time-out. This specific time-out is called by the referee when they observe that a wrestler is using equipment that does not comply with the rules. This can include issues like illegal headgear, improper footwear, or any other equipment that violates the regulations set forth by the governing body. The purpose of this time-out is to ensure the safety of the competitors and fair play in the match.

In contrast, a medical time-out is called to address injuries or health-related issues, a coaches' time-out is typically not an official designation in wrestling rules for addressing equipment issues, and a match time-out does not specifically refer to illegal equipment but may cover various general interruptions during a match.