PIB 5.10.4

An Authorised Firm must regard a commitment to underwrite an issue of Securities, subject to any right set out in PIB Rule 5.10.6, as the initial commitment to underwrite from the earlier of:

(a) the time the Authorised Firm signs an agreement with the Issuer of Securities to underwrite those Securities; or
(b) the time the price and allocation of the issue are set.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]