Article 10 of the Saudi Bankruptcy Law

المادة 10 من نظام الإفلاس · الفصل الثاني: لجنة الإفلاس إنشاء لجنة الإفلاس وتحديد اختصاصاتها

Article 10 provides that the working rules and procedures of the Bankruptcy Committee are issued by decision of the Minister, and requires the Committee to submit periodic reports to him.

Official text (Arabic)

This article has not been amended since the law was issued.

1- تصدر قواعد وإجراءات عمل لجنة الإفلاس بقرار من الوزير، على أن تتضمن ما يأتي:

أ- قواعد وإجراءات الدعوة لاجتماعات اللجنة وانعقادها والتصويت على قراراتها وإعداد محاضر اجتماعاتها ونحو ذلك من أحكام.

ب- إنشاء أمانة عامة للجنة وتحديد مهماتها وقواعد وإجراءات عملها.

2- تقدم لجنة الإفلاس إلى الوزير تقارير دورية عن أعمالها وإنجازاتها وما واجهته من صعوبات وما تراه من مقترحات لممارسة اختصاصاتها وأداء مهماتها بكفاية وفعالية.

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 10 explained in plain English

Article 9 established the Bankruptcy Committee and set its jurisdictions, and this article regulates the way the Committee works and its relationship with the Minister.

First: working rules. The working rules and procedures of the Bankruptcy Committee are issued by decision of the Minister, and must include:

The rules and procedures for calling the Committee's meetings and holding them, voting on its decisions, preparing the minutes of its meetings, and the like.
Establishing a general secretariat for the Committee, and determining its tasks and its working rules and procedures.

The article did not specify the quorum for meetings or the method of voting, but left that to the ministerial decision.

Second: reports. The Bankruptcy Committee must submit periodic reports to the Minister on:

Its work and achievements.
The difficulties it has faced.
Its proposals for exercising its jurisdictions and performing its tasks efficiently and effectively.

This is consistent with what Article 9 established, that the Committee works under the supervision of the Minister while having financial and administrative independence. Article 11 gives the Committee the power to use experts and to delegate some of its jurisdictions.

This article is organizational, concerning the Committee's own work, and does not create direct rights or obligations for debtors or creditors.

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 content

A question about Article 10 of Bankruptcy Law?

Describe what happened and specialist lawyers answer. You can write in English.