Law of Selling and Leasing Off Plan Real Estate Projects

1. The certified public accountant and the consulting firm shall, each in his capacity, notify the competent authority of any violation of the provisions of this Law or the Regulations that he becomes privy to in the course of his duties. 2. If the competent authority establishes that the developer, certified public accountant, or consulting firm has committed any violation of the provisions of this Law or the Regulations, it shall notify the violator in writing and specify a period for rectifying the violation, without prejudice to the imposition of the penalties provided for in this Law. The violator must notify the competent authority in writing of the rectification of the violation within the specified period. 3. If the competent authority establishes that the bank has committed any violation of the provisions of this Law or the Regulations, it shall notify the Saudi Central Bank thereof in writing.