Article42: The members of an underwriting syndicate shall carry out the underwriting activities in accordance with the syndication agreement and the underwriting agreement, and may not carry out a fraudulent underwriting.
Clawback provision: Clause in an underwriting agreement for a security that restricts the issue to a certain group.
"A public offer of shares by promoters shall be underwritten by securities institutions established in accordance with the law, and an underwriting agreement shall be entered into."
A public offer of new shares shall be underwritten by a legally established securities institution and an underwriting agreement shall be executed.
