(1) For the purpose of PIB Rule A5.8.1, an
Authorised Firm underwrites or sub-underwrites an issue of Securities where:
(a) it gives a commitment to an
Issuer of Securities to underwrite an issue of Securities;
(b) in the case of new
Securities (as defined in PIB Rule A5.8.4) it gives a commitment to a seller of Securities to underwrite a sale of those Securities;
(c) it gives a commitment to a person, other than the
Issuer of Securities or, if (b) applies, the seller of the Securities, to sub-underwrite an issue of Securities; or
(d) it is a member of a syndicate or
Group that gives a commitment of the type described in (a) to (c).
(2) Unless a
Rule deals with an issue of Securities separately or the context otherwise requires, a provision of PIB section A5.8 that deals with Underwriting also applies to sub-underwriting.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]