Stay informed and ahead of the curve with our February edition of Law and Regulations.TheVision Advocates and Legal Consultants bring you the most recent insights and analysis on pressing legal issues. Discover valuable information and expert advice to help you navigate the evolving legal landscape with confidence.
Rules for conducting financial settlements with those who committed corrupt crimes of a natural or legal nature
The Oversight and Anti-Corruption Authority issued new rules for making financial settlements with persons who committed corruption crimes before the date of 15/2/1439 AH and were not discovered. The rules include a person’s obligation to return funds obtained from crimes and pay 5% annually of such funds, with information on related crimes. People who abide by these rules can avoid legal action, with a deadline not exceeding three years to complete the settlement. The rules also cover cases of convicted or currently accused persons.
https://uqn.gov.sa/details?p=26972
Code of infrastructure projects
The Riyadh Infrastructure Projects Center was established to promote the planning and implementation of infrastructure projects. The sector faces many challenges and to overcome them, a comprehensive guide has been developed focusing on improving infrastructure and ensuring safety and quality, addressed to all project stakeholders.
https://uqn.gov.sa/details?p=26982
Consent to Beneficial Owner Rules
The Minister of Commerce issues a decision approving the rules of the beneficial owner.
The Minister of Commerce issued a ministerial decision approving the Beneficial Owner Rules, which will be implemented on 5/10/1446H (3/4/2025G). The rules aim to enhance corporate transparency and identify true beneficiaries who own 25% of the capital or control voting rights. The rules include companies subject to the Companies Law with the exception of listed or wholly state-owned companies. The rules require annual data disclosure, with fines of up to 500,000 riyals for violation.
https://uqn.gov.sa/details?p=26998
Controls for buying and renting vehicles by government agencies
Government controls determine how to purchase and lease vehicles for government entities, with a focus on achieving economic interest and fuel efficiency. The controls include the priorities of purchasing vehicles in accordance with industry localization agreements, ensuring their maintenance and determining their specifications accurately. It also requires the provision of insurance for vehicles and the registration of their data in an electronic platform to ensure their sustainability and quality in government performance.
https://uqn.gov.sa/details?p=27011
Personal Status Law Regulation
A new regulation has been issued that includes important amendments to the marriage and alimony system in the Kingdom. The amendments include various regulations on underage marriage, marriage documentation among non-Muslims, dowry conditions, custody, alimony, and other issues related to marriage and marital rights. The amendments also address provisions for exceptional cases, such as problems that families may face in cases of muscle or electronic marriage. In addition, procedures relating to child custody and child maintenance have been defined.
https://uqn.gov.sa/details?p=27013
- This new regulations are summarized for guidance, for more information please click on the title of the main section of the new laws and regulations. for clarifications and implementation contact The Vision Advocates.
