Securities and Exchange Board of India (Underwriters), Rules, 1993.

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.... exercise of the powers conferred by section 29 of the Securities and Exchange Board of India Act 1992. (15 of 1992) the Central Government hereby makes the following rules, namely: - 1. Short title and commencement. -(1) These rules may be called the Securities and Exchange Board of India (Underwriters), Rules, 1993. (2) They shall come into force on the date of their publication in the Off....

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....ter" means a person who engages in the business of underwriting of an issue of securities of a body corporate; (g) "underwriting" means an agreement with or without conditions to subscribe to the securities of a body corporate when the existing shareholders of such body corporate or the public do not subscribe to the securities offered to them. 3. Not to act as underwriter without certificat....

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....certificate to underwriter. -The Board may grant or renew a certificate to an underwriter subject to the following conditions, namely :- (a) in case of any change in the status and constitution, the underwriter shall obtain prior permission of the Board to continue to act as underwriter; (b) without prejudice to the obligations under any other law, the underwriter shall enter into a valid ag....