Article 41 of the Saudi Accredited Valuers Law
المادة 41 من نظام المقيمين المعتمدين
This article provides that the relationship between licensed accredited valuers under the law and non-Saudi accredited valuers is regulated as this law and the Professional Companies Law determine.
Official text (Arabic)
This article has not been amended since the law was issued.
تنظم العلاقة بين المقيّمين المعتمدين ـ المرخص لهم وفقاً لهذا النظام ـ والمقيّمين المعتمدين غير السعوديين، وفقاً لما يحدده هذا النظام ونظام 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 41 explained in plain English
This article deals with the relationship between accredited valuers licensed under the law and non-Saudi accredited valuers.
The rule: the relationship is regulated between:
- accredited valuers licensed under this law, and
- non-Saudi accredited valuers,
as determined by:
- this law, and
- the Professional Companies Law.
What does the article not determine? The article does not itself state the form of this relationship, such as partnership, cooperation or otherwise, or its conditions, but refers to the provisions of the law and the Professional Companies Law. Knowing the permitted forms therefore requires consulting the Professional Companies Law, which is another law whose text is not included here.
Why this article? Under Article 1, an accredited valuer is a natural or legal person licensed to practice the profession under this law. The article distinguishes between these and non-Saudi accredited valuers, and sets the framework within which the relationship between the two groups is regulated.
Relationship to other articles: Article 40 provides that a person carrying out valuation work when the law takes effect continues as a core member provided they pass the examination within 5 years. Article 42 provides that the law does not apply to government employees who carry out valuation in government committees, provided they pass the Authority's tests.
Anyone who wishes to enter a professional relationship with a foreign valuer or valuation firm should consult a lawyer who specializes in international cases and foreign investment.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
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Frequently asked questions about Article 41 of the Saudi Accredited Valuers Law
How is the relationship between a Saudi valuer and a foreign valuer regulated?
As the Accredited Valuers Law and the Professional Companies Law determine.
Does the article determine the form of partnership with a foreign valuer?
No. The article refers to the provisions of the law and the Professional Companies Law.
More articles on Exceptions and Final Provisions
- Article 38
This article has the competent court hear all lawsuits brought by or against the accredited valuer for a reason related to practicing the profession under the law.
تتولى المحكمة المختصة النظر في جميع الدعاوى التي تقام من المقيّم المعتمد أو عليه لسبب يتعلق بمزاولته المهنة طبقاً لأحكام هذا النظام .
- Article 42Amended by M/190
This article exempts government employees who carry out valuation by virtue of their work in government committees from the law, provided they pass the tests the Authority sets to qualify them.
لا تنطبق أحكام هذا النظام على الموظفين الحكوميين القائمين بأعمال التقييم بحكم أعمالهم في اللجان المختلفة في الأجهزة الحكومية على أن يجتازوا الاختبارات التي تحدد
- Article 43
This article requires that what is stated in Article 18 of the Cooperative Insurance Companies Control Law be taken into account when applying the provisions of the Accredited Valuers Law.
يراعى في تطبيق أحكام هذا النظام ما ورد في المادة (الثامنة عشرة) من نظام مراقبة شركات التأمين التعاوني.
- Article 44
This article provides that the Authority's board of directors prepares the Implementing Regulations of the Accredited Valuers Law, they are issued by decision of the Minister, and they take effect when the law takes effect.
يعد مجلس الإدارة اللائحة التنفيذية لهذا النظام ، وتصدر بقرار من الوزير، وتكون نافذة بنفاذ هذا النظام.
- Article 45
The article provides that the Accredited Valuers Law is published in the Official Gazette and takes effect 180 days after its publication.
ينشر هذا النظام في الجريدة الرسمية، ويعمل به بعد مائة وثمانين يوماً من تاريخ نشره.
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.