Managers of qualifying venture capital funds shall, in relation to the qualifying venture capital funds they manage:

(a)
act honestly, fairly and with due skill, care and diligence in conducting their activities;
(b)
apply appropriate policies and procedures for preventing malpractices that can reasonably be expected to affect the interests of the investors and the qualifying portfolio undertakings;
(c)
conduct their business activities in such a way as to promote the best interests of the qualifying venture capital funds they manage, the investors therein and the integrity of the market;
(d)
apply a high level of diligence in the selection and ongoing monitoring of investments in qualifying portfolio undertakings;
(e)
possess adequate knowledge and understanding of the qualifying portfolio undertakings in which they invest;
(f)
treat their investors fairly;
(g)
ensure that no investor obtains preferential treatment, unless such preferential treatment is disclosed in the rules or instruments of incorporation of the qualifying venture capital fund.