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Article 71
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(Firm Commitment Underwriting of Securities)<br/>A securities underwriter which underwrites securities on a firm commitment basis shall, at the end of the period of underwriting specified in the underwriting agreement, subscribe the unsold portion of securities for its own account.<br/>The securities underwriter which underwrites securities on a firm commitment basis may subscribe to such securities before placing them for sale or it may specify in the underwriting agreement that a portion of the securities covered in the agreement shall be reserved for subscription by the underwriter for his own account.<br/>The qualifications required for an underwriter to undertake firm commitment underwriting shall be prescribed by the Competent Authority.
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