Submission of letter of offer: acquirer must file draft with regulator and pay prescribed fee before dispatch. The acquirer, through its merchant banker, must file a draft letter of offer with the Board within fourteen days of the public announcement containing specified disclosures; the letter may be despatched to shareholders not earlier than twenty-one days from submission, subject to incorporation of any Board-specified changes. Where disclosures are inadequate or complaints or enquiries exist, the Board may call for a revised letter of offer and comment within seven working days of its filing. A prescribed filing fee, determined by offer size, must be paid to the Board by banker's cheque or demand draft.