Regulation 14 - Agreement with clients - Securities and Exchange Board of India (Underwriters) Regulations, 1993

Agreement with clients. 14. Every underwriter shall enter into an agreement referred to in 1 [clause (b) of sub-regulation (1) of regulation 9A] with each body corporate on whose behalf he is acting as underwriter and the said agreement shall, amongst other things, provide for the following, namely :- (i) the period for which the agreement shall be in force; 2 [(ia) the allocation of duties and responsibilities between the underwriter and the client;] (ii) the amount of underwriting obligations; (iii) the period, within which the underwriter has to subscribe to the issue after being intimated by or on behalf of such body corporate; (iv) the amount of commission or brokerage payable to the underwriter; (v) details of arrangements, if any, made by the underwriter for fulfilling the underwriting obligations. ********* 1 Substituted for the words, brackets and figures clause (b) of rule 4 by the SEBI (Underwriters) (Amendment) Regulations, 2006, w.e.f. 7-09-2006. 2 Inserted, ibid.