If the allocation of Securities has not been fixed, an Authorised Firm must calculate the gross amount of its commitment, for the purpose of
[PIB Rule A5.8.6], by reference to the maximum amount it has committed to underwrite until the time the allocation is set. An Underwriting commitment may only be reduced under this Rule on the basis of a formal agreement.
Derived from RM111/2012
(Made 15th October 2012). [VER20/12-12]