Alqanoni

The Capital Market Law

Art. Fourteen
Status unknownSaudi ArabiaRegulation

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

The Authority shall have a separate annual budget that will be submitted to the Minister of Finance and will be approved in accordance with applicable regulations. Surplus funds collected by the Authority under Article 13 of this Law and under the provisions, rules and instructions issued thereunder, shall be remitted to the Ministry of Finance after deducting all current and capital expenses and other expenses needed by the Authority. The Authority shall maintain a general reserve equal to double of its expenditures as reported in its preceding annual budget.

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

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