The Company intends to comply with applicable law, including the Act, the DTRs, MAR and the Admission and Disclosure Standards. It does not intend to comply with the UK Corporate Governance Code issued by the Financial Reporting Council or the corporate governance code issued by the Association of Investment Companies. The Board has established an Audit Committee to assist the Board in carrying out its responsibilities in reviewing the financial reporting, internal controls and risk management of the Company. The mandate of the Audit Committee has been set out in the Audit Committee Charter. The Audit Committee is comprised of three members of the Board and one external expert in the areas of financial reporting and audit. This ensures the necessary expertise is available to the audit committee to fulfil its mandate. Current members of the Audit Committee are Messrs Jean Medernach (Chairman), Yves Mertz and Michael Baines.