Article 93 of the Saudi Implementing Regulations of the Bankruptcy Law
المادة 93 من اللائحة التنفيذية لنظام الإفلاس · الفصل السابع عشر: الأمناء والخبراء: الترخيص للأمناء والخبراء
Allows the Bankruptcy Committee to approve professional bodies to license trustees or experts on three conditions, and to cancel the approval of a body that does not meet the specified conditions.
Official text (Arabic)
This article has not been amended since the law was issued.
1- للجنة الإفلاس اعتماد جهات مهنية للترخيص للأمناء أو الخبراء وفق الآتي:
أ - أن تلتزم الجهة المهنية بالشروط التي تحددها لجنة الإفلاس.
ب - أن تكون الجهة المهنية مختصة بتنظيم ممارسة أعمال المهنة، ولديها إشراف على أعمالها.
ج - أن يقتصر الترخيص الصادر عن الجهة المهنية على الحاصلين على عضويتها.
2 - للجنة الإفلاس إلغاء اعتماد الجهة المهنية التي لم تلتزم بالشروط المحددة.
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 93 explained in plain English
This article of the Regulations opens another route for licensing trustees and experts, allowing the Bankruptcy Committee to approve professional bodies that license them.
Conditions for approving a professional body:
- The professional body must comply with the conditions set by the Bankruptcy Committee.
- It must be competent to regulate the practice of the profession and supervise its work.
- The licenses it issues must be limited to its members.
Cancelling approval: the Bankruptcy Committee may cancel the approval of a professional body that has not complied with the specified conditions.
In practice, this means that anyone who wants to be licensed through an approved professional body must be a member of it, because its licensing is limited to its members. The article does not name particular bodies, leaving approval to the Bankruptcy Committee's discretion under the stated conditions. Approval is also permissive, so the Committee is not obliged to approve any body.
The article follows Article 92, which requires trustees and experts to comply with the Law, the Regulations, the rules issued by the Bankruptcy Committee and the relevant laws in force, and precedes Article 94, which provides that trustees and experts are entitled to fees under the rules on fees of trustees and experts.
The article does not state the effect of cancelling a body's approval on licenses it has already issued. Anyone who wants to work as a trustee or expert and wants to know the suitable route may consult a lawyer specializing in bankruptcy and commercial cases.
Practical example
A certified accountant in Jeddah wants to work as an expert in bankruptcy procedures. If the Bankruptcy Committee has approved the professional body that regulates his profession, he can obtain the license through it, provided he is one of its members.
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 93 of the Saudi Implementing Regulations of the Bankruptcy Law
Can a bankruptcy trustee license be obtained from a professional body?
Yes, if the Bankruptcy Committee has approved that professional body for licensing; its licensing is limited to its members.
What are the conditions for approving a professional body for licensing?
That it comply with the conditions set by the Bankruptcy Committee, that it be competent to regulate the practice of the profession and supervise its work, and that its licensing be limited to its members.
Can a professional body's approval be cancelled?
Yes. The Bankruptcy Committee may cancel the approval of a body that has not complied with the specified conditions.
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1- يباشر الأمين مهماته من تاريخ افتتاح إجراء الإفلاس، ما لم يتضمن حكم المحكمة بافتتاحه تاريخاً آخر. 2- يجب أن يتضمن حكم المحكمة بتعيين أكثر من أمين بياناً بمهما
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1 - تبلغ لجنة الإفلاس المحكمة بشطب ترخيص الأمين أو الخبير أو إيقافه مؤقتاً أو عدم تجديده, وذلك للنظر في عزله أو استمراره في إجراء الإفلاس المعين فيه. 2- للأمين
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يجب أن يكون المقترح المرافق لطلب افتتاح إجراء التسوية الوقائية مؤشراً عليه من أمين مدرج في قائمة الأمناء باستيفائه المعلومات والوثائق المطلوبة.
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1 - على الأمين أن يرفق -عند إيداع المقترح لدى المحكمة- تقريره المتضمن رأيه في إمكان موافقة الدائنين على المقترح, وقابليته للتنفيذ. 2 - على المدين -بعد موافقة ال
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على الأمين أن يرفق عند إيداع المقترح لدى المحكمة تقريره المتضمن رأيه في إمكان موافقة الدائنين على المقترح, وقابليته للتنفيذ.
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مع مراعاة أحكام المادة (التاسعة) من النظام، تتولى لجنة الإفلاس الاختصاصات الآتية: أ - إصدار قواعد حفظ وإدارة سجل الإفلاس والسجل المنصوص عليه في الفقرة (2) من ال
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.