Companies Law

1. A company shall maintain accounting records and supporting documents relating to its activities, contracts, and financial statements at the company’s headquarters or at any other location designated by the company’s manager or board of directors. 2. A company’s financial statements shall be prepared by the end of each fiscal year in accordance with accounting standards approved in the Kingdom, and Companies Law said statements shall be deposited as provided for in the Regulations within six months from the date on which the fiscal year ends, in accordance with the provisions of this Law. 3. If a company requires information from a company it controls or owns interests or shares therein in order to prepare its preliminary or annual financial statements, said company shall provide the information necessary for preparing such statements in accordance with accounting standards approved in the Kingdom. 4. The CMA may set the rules governing the provision of the information referred to in paragraph (3) of this Article by joint-stock companies listed in the capital market.