Article 4 of the Saudi Accredited Valuers Law
المادة 4 من نظام المقيمين المعتمدين
The article creates a register at the Authority for each branch of valuation in which individual valuers are entered, and requires valuers that are companies also to register in the professional companies register at the Ministry of Commerce.
Official text after amendments (Arabic)
Compiled from the original text and every officially published amendment; the amendments are shown in full below for comparison.
ينشأ في الهيئة سجل لكل فرع من فروع التقييم يقيد فيه أسماء المقيّمين المعتمدين إذا كانوا أشخاصاً ذوي صفة طبيعية . أما إذا كانوا أشخاصاً ذوي صفة اعتبارية فيسجلون ـ بالإضافة إلى ذلك ـ في سجل الشركات المهنية في وزارة التجارة، ويخضعون في ذلك لأحكام نظام الشركات المهنية .
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 4 explained in plain English
This article regulates the registers of accredited valuers.
1. The Authority's register for each branch: a register is created at the Saudi Authority for Accredited Valuers for each branch of valuation, in which the names of accredited valuers who are natural persons (individuals) are entered.
2. Companies: if the valuers are legal persons, they register in addition in the professional companies register at the Ministry of Commerce, and they are subject in that to the provisions of the Professional Companies Law.
Practical effect:
- A person who wants to verify that a valuer is accredited in a particular branch refers to the Authority's register for that branch.
- A valuation company needs two registrations: in the Authority's register and in the professional companies register, and it is subject to the Professional Companies Law.
Amendments: the article was amended twice: by Council of Ministers Resolution No. (57) dated 20/1/1442 AH so that it reads "in the professional companies register at the Ministry of Commerce" in place of "at the Ministry," and by Royal Decree No. (M/190) dated 22/11/1444 AH so that it reads "is created at the Authority" in place of "is created at the supervising body."
Relation to other articles: this article applies Article 3, which bars practicing valuation in any branch without a license in the same branch, and Article 5 sets the conditions for entry in the register, such as Saudi nationality, legal capacity, experience and basic membership in the Authority.
A person who wishes to set up a valuation company would be well advised to consult a lawyer who specializes in commercial and company cases.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
How we write and review contentCommercial & Corporate Law lawyers: ask a specialist about your case
Describe your situation briefly and we'll suggest a lawyer who specialises in this law
Commercial & Corporate Law lawyers
Lawyers who handle this kind of case
Ibrahim Al Salem Law Firm
Active contributor
Dr. Ali Al-Rubaie Law Office and Ittihad Al-Asr Legal Company
Frequently asked questions about Article 4 of the Saudi Accredited Valuers Law
Where is an accredited valuer registered?
In the Authority's register for the branch they practice; there is a register for each branch of valuation.
Are valuation companies registered in another register?
Yes. In addition to the Authority's register, they register in the professional companies register at the Ministry of Commerce, and are subject to the Professional Companies Law.
Amendment history
Amendment — 20/1/1442 AH
Official amendment text (Arabic)
- عُّدلت عبارة (في سجل الشركات المهنية في الوزارة) من هذه المادة لتكون (في سجل الشركات المهنية في وزارة التجارة) وذلك بموجب قرار مجلس الوزراء رقم (57) وتاريخ 20 / 1 / 1442هـ.
Royal Decree No. M/190 — 22/11/1444 AH
Official amendment text (Arabic)
- إحلال عبارة "ينشأ في الهيئة" محل عبارة "ينشأ في الجهة المشرفة" الواردة في بداية المادة، وذلك بموجب المرسوم الملكي رقم (م/190) وتاريخ 1444/11/22هـ،
Original text before the amendments (Arabic)
يُنشأ في الوزارة سجل لكل فرع من فروع التقييم يقيد فيه أسماء المقيّمين المعتمدين إذا كانوا أشخاصاً ذوي صفة طبيعية . أما إذا كانوا أشخاصاً ذوي صفة اعتبارية فيسجلون ـ بالإضافة إلى ذلك ـ في سجل الشركات المهنية بالوزارة، ويخضعون في ذلك لأحكام نظام الشركات المهنية .
More articles on Licensing the Practice of Valuation
- Article 3
The article bars any natural or legal person from practicing the valuation profession in any branch unless licensed to practice it in the same branch.
لا يحق لأي شخص ذي صفة طبيعية أو اعتبارية مزاولة مهنة التقييم في أي فرع من فروع التقييم ما لم يكن مرخصاً له بمزاولة المهنة في الفرع نفسه.
- Article 5
The article requires a person entered in the valuers' register to be a Saudi of full legal capacity and good conduct, not sentenced for a hadd or a disreputable crime, experienced in the branch, and a basic member of the Authority.
يشترط فيمن يقيد اسمه في السجل أن يكون : 1 ـ سعودي الجنسية . 2 ـ كامل الأهلية . 3 ـ حسن السيرة والسلوك، وغير محكوم عليه بحد شرعي، أو في جريمة مخلة بالشرف أو الأم
- Article 6
The article refers to the Implementing Regulations the specification of valuation work for which the Authority's Board sees a need for additional experience, and the period of suspension does not count toward that period.
تحدد اللائحة التنفيذية أعمال التقييم التي يرى مجلس إدارة الهيئة ضرورة توافر مدة إضافية من الخبرة لمزاولتها ، ولا تدخل مدة الإيقاف المنصوص عليها في هذا النظام في
- Article 7Amended by M/190
The article regulates the valuers' registration committee of three members including a legal adviser, requires it to give reasons for refusing an application, and lets a refused applicant file a grievance with the Board of Grievances.
أ ـ تشكل في الهيئة بقرار من المجلس لجنة تسمى (لجنة قيد المقيّمين)، من ثلاثة أعضاء يكون من بينهم مستشار قانوني، ومقيّم مزاول من كل فرع من فروع التقييم المختلفة.
- Article 8Amended by M/190
This article provides that the Authority issues the license to practice valuation in the branch named in the registration application after registration in the register, and refers the issuing procedures, fee, term and renewal conditions to the Regulations.
بعد القيد في السجل، تصدر الهيئة الترخيص بمزاولة مهنة التقييم في الفرع الوارد في طلب القيد، وتحدد اللائحة التنفيذية إجراءات إصداره، والمقابل المالي له، ومدته، وش
- Article 9
This article allows the Authority, in accordance with the Implementing Regulations, to consider applications from professionals who are members of other professional bodies for a license to practice valuation, under the conditions in the law.
للهيئة أن تنظر - وفقاً لما تحدده اللائحة التنفيذية- في الطلبات التي يقدمها مهنيون آخرون (أعضاء في هيئات مهنية أخرى) للحصول على ترخيص بمزاولة المهنة، وذلك وفقاً
The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.