1. A manager of a qualifying social entrepreneurship 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 social entrepreneurship 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 social entrepreneurship 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 social entrepreneurship fund; and
(b) the information presented therein should not be relied upon because it is incomplete and may be subject to change.
2. Competen
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