Bankruptcy Law

1. Without prejudice to any harsher penalty provided for in any other law, any person who commits any of the offenses stipulated in Articles 200, 201, and 202 of this Law shall be subject to imprisonment for a term not exceeding five years and a fine not exceeding five million riyals, or to either penalty. 2. The court may, in addition to the penalties prescribed in paragraph (1) of this Article, impose against a violator for a term not exceeding five years one or more of the following penalties: a) Prohibiting him from directly or indirectly managing any for-profit establishment or running its operations in his capacity as director or member of the board of directors, and from participating in any for-profit establishment where his ownership therein entails actual or de-facto management thereof. b) Prohibiting him from voting on decisions concerning the nomination or selection of a candidate in any for-profit establishment. c) Prohibiting him from owning shares in any for-profit establishment when such ownership entails engaging in any direct or indirect management activities therein. A person punished under paragraph (2) of this Article may petition the court for approval to engage in any of the activities from which he is prohibited.