A relevant person of a Bahrain domiciled CIU shall be liable for losses suffered by a CIU participant because of that relevant person’s unjustifiable failure to perform its obligations required under the CBB Law or the CBB Rulebook. The CBB does not permit relevant persons to rely on disclaimers (written or otherwise) that have the effect of restricting their liability beyond an amount considered to be reasonable and customary in the fund management industry. Accordingly, relevant persons must ensure that the contractual arrangements reflect this.