PRU A6.8.3

(1) For the purpose of Rule A6.8.1, an Authorised Person 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 Rule A6.8.4) 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 Section A6.8 that deals with Underwriting also applies to sub-Underwriting.