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Section 15

the Securities and Exchange Board of India (Underwriters) Regulations, 1993. Last amended on March 6, 2017Central Regulations · 1992

(1) The underwriter shall not derive any direct or indirect benefit from underwriting the issue other than the commission or brokerage payable under an agreement for underwriting.

(2) The total underwriting obligations under all the agreements referred to in clause (b) of rule 4 shall not exceed twenty times the net worth referred to in regulation 7.

(3) Every underwriter, in the event of being called upon to subscribe for securities of a body corporate pursuant to an agreement referred to in 50[clause (b) of subregulation (1) of regulation 9A] shall subscribe to such securities within 45 days of the receipt of such intimation from such body corporate.

To maintain proper books of account and records, etc.

Where this provision sits

Actthe Securities and Exchange Board of India (Underwriters) Regulations, 1993. Last amended on March 6, 2017
Section15
JurisdictionCentral
StatusIn force as published by the source

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