Article 228 of the Saudi Bankruptcy Law
المادة 228 من نظام الإفلاس · الفصل السابع عشر: أحكام ختامية: إنشاء سجل الإفلاس وتحديد أغراضه
The article refers to the Implementing Regulations the way notification and announcement provided for in the Bankruptcy Law are made.
Official text (Arabic)
This article has not been amended since the law was issued.
يكون التبليغ والإعلان المنصوص عليهما في أحكام النظام وفقاً لما تحدده اللائحة.
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 228 explained in plain English
The Bankruptcy Law mentions notification and announcement in many places.
This article provides that the notification and announcement provided for in the provisions of the law are made as the Implementing Regulations specify. The text itself does not state the means of notification or announcement, their form, or the body that carries them out, but leaves all that to the Implementing Regulations.
The importance is practical, because time limits and rights are tied to notification and announcement, so knowing the approved method helps the debtor, the creditors and other interested parties to count time limits and follow the procedures. One therefore needs to consult the Implementing Regulations for the details.
Anyone who wants to know how he is notified of a judgment or decision issued in a bankruptcy procedure, or how the announcement provided for in the law is made, will find the answer in the Implementing Regulations and not in the text of this article. Related to this is what Article 229 provides, that the Ministry prepares the Implementing Regulations in coordination with the relevant bodies and that they are issued by a decision of the Council of Ministers. Article 227 also provides for setting up the bankruptcy register and making its contents open to the public. For an assessment of a specific situation, consult a lawyer specializing in bankruptcy and commercial cases.
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 228 of the Saudi Bankruptcy Law
How are notification and announcement done in bankruptcy procedures?
As the Implementing Regulations specify; the text of the article does not state the means.
Does the Bankruptcy Law itself set the means of notification?
No. The article refers the notification and announcement provided for in the law to the Implementing Regulations.
More articles on General Provisions and the Bankruptcy Committee
- Article 1
Article 1 defines the key terms of the Bankruptcy Law, such as debtor, creditor, defaulting debtor, bankrupt, related party and the different bankruptcy procedures.
يقصد بالألفاظ والمصطلحات الآتية -أينما وردت في هذا النظام- المعاني المبينة أمام كل منها ما لم يقتض السياق خلاف ذلك: النظام: نظام الإفلاس. اللائحة: اللائحة التنف
- Article 2
Article 2 lists the seven bankruptcy procedures the Law regulates, from protective settlement to administrative liquidation.
يهدف النظام إلى تنظيم إجراءات الإفلاس، وهي: 1- التسوية الوقائية. 2- إعادة التنظيم المالي. 3- التصفية. 4- التسوية الوقائية لصغار المدينين. 5- إعادة التنظيم المال
- Article 3
Article 3 specifies which entities are regulated entities and requires the competent authority's approval before a request to open any bankruptcy procedure for them is registered.
1- يعد ما يأتي كياناً منظماً في تطبيق أحكام النظام: أ- الشركات المصرفية وشركات التمويل وشركات التأمين وشركات الصيرفة. ب- الأشخاص المرخص لهم بممارسة أعمال الأورا
- Article 4
Article 4 specifies who is subject to the Bankruptcy Law: individuals carrying on commercial, professional or profit-making business, registered companies and profit-making entities, and non-Saudi investors to the extent of their assets in the Kingdom.
تسري أحكام النظام على كلّ من: أ - الشخص ذي الصفة الطبيعية الذي يمارس في المملكة أعمالاً تجارية، أو مهنية، أو أعمالاً تهدف إلى تحقيق الربح. ب - الشركات التجارية
- Article 5
Article 5 sets out the objectives of bankruptcy procedures: enabling the debtor to organize its affairs, treating creditors fairly, maximizing asset value, cutting costs and time, and administrative liquidation when assets are weak.
تهدف إجراءات الإفلاس إلى الآتي: أ - تمكين المدين المفلس أو المتعثر أو الذي يتوقع أن يعاني من اضطراب أوضاعه المالية من الاستفادة من إجراءات الإفلاس، لتنظيم أوضاع
- Article 6
Article 6 gives the court the power to issue the judgments and decisions needed for bankruptcy procedures, supervise their execution, decide their disputes and impose penalties.
تصدر المحكمة الأحكام والقرارات اللازمة لتطبيق الإجراءات المنصوص عليها في النظام، وتتولى الإشراف على تنفيذها، والفصل فيما ينشأ عنها من نزاعات، وإيقاع العقوبات 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.