Article 14 of the Saudi Alimony Fund Statute
المادة 14 من تنظيم صندوق النفقة
The article makes the Fund's fiscal year the state's fiscal year, with the exception that the first year starts on the date the Statute takes effect and ends with the end of the following fiscal year.
Official text (Arabic)
This article has not been amended since the law was issued.
السنة المالية للصندوق هي السنة المالية للدولة، واستثناء من ذلك تبدأ السنة المالية الأولى للصندوق من تاريخ نفاذ التنظيم، وتنتهي بنهاية السنة المالية التالية.
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 14 explained in plain English
This article sets the Alimony Fund's fiscal year, with a rule and an exception:
The rule: The Fund's fiscal year is the state's fiscal year, so it begins and ends with it.
The exception (the first year):
- The first fiscal year begins on the date the Statute takes effect.
- And it ends at the end of the following fiscal year.
So the first fiscal year is longer than an ordinary year; it extends from the date of taking effect, wherever that falls in the state's fiscal year, until the end of the fiscal year that follows it. After it ends the general rule applies, and the Fund's fiscal year coincides with the state's fiscal year.
The article does not state the date the Statute takes effect or the date the state's fiscal year starts.
It connects to Article 13, which requires the Fund's money to be deposited in special accounts with the Saudi Arabian Monetary Authority, and to Article 15, which regulates the appointment of an external auditor to audit the Fund's accounts, annual budget and final account.
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 14 of the Saudi Alimony Fund Statute
What is the Alimony Fund's fiscal year?
It is the state's fiscal year.
When did the Alimony Fund's first fiscal year start?
On the date the Statute takes effect, and it ends at the end of the following fiscal year.
More articles on Alimony Fund Resources and Accounts
- Article 12
The article sets the Fund's financial resources: the state's annual subsidy, donations, grants, gifts, bequests and endowments the board accepts, and any other resource the board approves.
تتكون الموارد المالية للصندوق مما يأتي: 1- الأموال التي تسهم بها الدولة كإعانة سنوية. 2- التبرعات والمنح والهبات والوصايا والأوقاف التي يقرر المجلس قبولها. 3- أ
- Article 13
The article requires all of the Fund's money to be deposited in special accounts with the Saudi Arabian Monetary Authority, with spending from them under the rules and procedures the board sets.
تودع جميع أموال الصندوق، في حسابات خاصة لدى مؤسسة النقد العربي السعودي, ويصرف منها وفقاً للقواعد والإجراءات التي يحددها المجلس.
- Article 15
The article requires the Board to appoint one or more licensed external auditors to audit the Fund's accounts, without prejudice to the General Auditing Bureau, which is given a copy of the report.
مع عدم الإخلال باختصاص ديوان المراقبة العامة، يعين المجلس مراجع حسابات خارجيًّا (أو أكثر) من المرخص لهم بالعمل في المملكة، لتدقيق حسابات الصندوق ومعاملاته وبيان
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.