1. A manager of a qualifying venture capital fund may engage in pre-marketing in the Union, except where the information presented to potential investors:

(a) is sufficient to allow investors to commit to acquiring units or shares of a particular qualifying venture capital fund;

(b) amounts to subscription forms or similar documents whether in a draft or a final form; or

(c) amounts to constitutional documents, a prospectus or offering documents of a not-yet-established qualifying venture capital fund in a final form.

Where a draft prospectus or offering documents are provided, they shall not contain information sufficient to allow investors to take an investment decision and shall clearly state that:

(a) they do not constitute an offer or an invitation to subscribe to units or shares of a qualifying venture capital fund; and