PRU 5.10.3

Past version: effective from 21/10/2015 - 20/10/2015
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(1) An Authorised Person must calculate a Securities Underwriting Capital Requirement if it has a commitment to underwrite or sub-underwrite an issue of Securities.
(2) An Authorised Person has a commitment to underwrite or sub-underwrite an issue of Securities where:
(a) it gives a commitment to an Issuer of Securities to underwrite an issue of Securities;
(b) it gives a commitment to sub-underwrite an issue of Securities; or
(c) it is a member of a syndicate or Group that gives a commitment to an Issuer to underwrite an issue of Securities or a commitment to sub-underwrite an issue of Securities.