Tag: Ministry of Commerce

Arabic

The Minister of Commerce,

based on the powers entrusted to him by law,

based on article 262(e) and 267(1) of the Companies Law issued by Royal Decree D/132 dated 1 Dhu Al-Hijja 1443 [30 June 2022],

and after perusal of article 94 of the Executive Regulation of the Companies Law promulgated by Ministerial Decision 284 dated 23 Jumada Al-Thani 1444 [16 January 2023],

and in pursuance of public interest,

hereby decides

First

A direct punishment is hereby imposed on anyone who violates his duty to deposit the financial statements in accordance with the provisions of the Companies Law and its executive regulation. The fine must be imposed on every violator in accordance with the following:

Forms of companies other than the unlisted joint stock company
Capital	Number of managers	Fine
Less than 500,000 (five hundred thousand) Riyal	One manager	8,000 (eight thousand) Riyal
	Two managers and more	4,000 (four thousand) Riyal
500,000 (five hundred thousand) Riyal and more	One manager	12,000 (twelve thousand) Riyal
	Two managers and more	6,000 (six thousand) Riyal

Unlisted joint stock company
Capital	Fine
Less than 5,000,000 (five million) Riyal	15,000 (fifteen thousand) Riyal
5,000,000 (five million) Riyal and more	20,000 (twenty thousand) Riyal

Second

In the event that the violation of non-deposit of the financial statements is repeated during the legal period of the fiscal year following the previous violation decision that is considered final, the fine is increased by 50%.

Third

The mechanism for notifying the direct violation decision is in accordance with the mechanism stipulated in article 94 of the Executive Regulation of the Companies Law.

Fourth

This decision must be published in the official gazette, and comes into force on 1 July 2024.

Minister of Commerce
Dr Majid bin Abdullah Al-Kassabi

Issued on: 27 Dhu Al-Qa’dah 1445
Corresponding to: 4 June 2024

Published in Umm Al-Qura 5036 issued on 28 June 2024.

Arabic Auto Translate

Issued on: 21/8/1445
Corresponding to: 2/3/2024

Published in Umm Al-Qura 5024 issued on 15 March 2024.

Arabic

The Minister of Commerce,

based on the powers entrusted to him by law, and after perusal of:

the Trade Names System issued by Royal Decree D/15 dated 12 Sha’ban 1420 [21 November 1999].

and Royal Decree 86852 dated 18 Dhu Al-Hijja 1444 [7 July 2023], which includes in clause Third: “His Excellency the Minister of Commerce, His Excellency the Minister of State, Member of the Council of Ministers, and Chairman of the Council of the Saudi Authority for Intellectual Property—each in their area of competence and in coordination between them—shall issue controls to approve the use of the name of Saudi Arabia, and the names of cities, regions, and public places, in the trade name or trademark to be registered or any of them, and the approval for registration must be issued in accordance with the legal procedures followed by both parties”,

and in pursuance of public interest,

hereby decides

First

The Controls for Using the Name of Saudi and the Names of Cities, Regions, and Public Places in the Trade Name are hereby issued in the form attached to this decision.

Second

These controls must be published in the official gazette, and comes into force from the date of its publication.

Minister of Commerce
Dr Majid bin Abdullah Al-Qasabi

Issued on: 19/5/1445
Corresponding to: 3/12/2023

Published in Umm Al-Qura 5014 issued on 5 January 2024.

Arabic

The Minister of Commerce,

based on the powers entrusted to him by law,

and after perusal of article 59 of the Law of Chambers of Commerce issued by Royal Decree D/37 dated 22 Rabi Al-Thani 1442 and its executive regulation,

hereby decides

First

The Regulation of National and Sectoral Committees of the Chambers of Commerce is hereby issued in the form attached to this decision.

Second

1. The status of the existing national and sectoral committees must be rectified within a period not exceeding six months from the effective date of the regulation.

2. The committees shall terminate in the event that their status is not rectified by the end of the period specified in paragraph 1 of this clause, or at the end of the session of the board of directors of the chamber for sectoral committees, whichever is earlier.

Third

The regulation attached to this decision must be published in the official gazette, and comes into force from the date of its publication.

Minister of Commerce
Dr Majid bin Abdullah Al-Qasabi

Issued on: 19/5/1445
Corresponding to: 3/12/2023

Published in Umm Al-Qura 5010 issued on 8 December 2023.

Arabic

The Minister of Commerce,

based on the powers entrusted to him by law,

based on article 26 of the Commercial Franchise Law issued by Royal Decree D/22 dated 9 Safar 1441,

and after perusal of Ministerial Decision 00591 of 18 Ramadan 1441 Approving the Executive Regulation of the Commercial Franchise Law,

hereby decides

First: The repeal of item 13 titled “Financial Status Information of the Franchisor” of the Disclosure Document Requirements annexed to the Executive Regulation of the Commercial Franchise Law is hereby approved, and the items of the Disclosure Document Requirements are hereby renumbered in accordance with this.

Second: This decision must be published in the official gazette, and comes into force on the date of its publication.

Minister of Commerce
Dr Majid bin Abdullah Al-Qasabi

Issued on: 14/8/1444
Corresponding to: 6/3/2023

Published in Umm Al-Qura 4973 issued on 10 March 2023.