PIB A5.3.6

An Authorised Firm must treat a Convertible as the underlying equity into which it converts, where:

(a) the first date at which conversion can take place is less than three months ahead, or the next such date (where the first has passed) is less than a year ahead; and
(b) the Convertible is trading at a premium of less than 10% to the underlying equity.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]