Alqanoni

Chambers of Commerce Law

Art. 36
Status unknownSaudi ArabiaRegulation

Issued by Ministry of Investment (misa.gov.sa)

1. Amounts not allocated in the budget and amounts exceeding their allocations in the budget may not be disbursed. Transfer between budget allocations is not permitted, nor shall a budget allocation be used for other than its designated purposes without the board’s approval. 2. Any decision not consistent with the provisions of paragraph (1) of this Article shall be deemed null and void. Any person who commits or participates in such violation shall, to the extent of his involvement and within 30 days of being notified thereof, reimburse the chamber for funds disbursed without board approval or disbursed for other than their designated purposes.

The Arabic text is the legally binding version. The English translation is provided for guidance only.

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