Bahrain domiciled retail CIUs must be authorised by the CBB prior to being offered to investors. See Part B of Volume 7 for the prescribed application for authorisation to be submitted to the CBB together with a certification from the proposed third-party fund administrator, custodian, legal representative or the external auditor of the fund. Each application must be accompanied by a processing fee of BD 100 upon submission of the application. Each Bahrain domiciled CIU is subject to an annual fee of BD 2,000 payable each year before 31 March.