Article 35 of the Saudi Chambers of Commerce Law
المادة 35 من نظام الغرف التجارية · الفصل الرابع: الشؤون المالية للغرفة
When the estimated budget is delayed, the chamber works on the previous budget's estimates until the General Assembly approves the new one within 90 days with the Minister's approval; otherwise the Ministry may take whatever action it sees fit.
Official text (Arabic)
This article has not been amended since the law was issued.
في حال تأخر إصدار الموازنة التقديرية للغرفة، يُعمل بتقديرات الميزانية السابقة إلى أن توافق الجمعية العمومية للغرفة على مشروع الموازنة التقديرية الجديدة خلال (تسعين) يوماً من بداية السنة المالية، وفي هذه الحالة يتعين -استثناءً- اعتمادها من الوزير. وإذا انقضت مدة الـ(تسعين) يوماً المشار إليها دون عرض الموازنة التقديرية على الجمعية العمومية للغرفة، أو عرضت عليها ولم توافق عليها، فللوزارة أن تتخذ ما تراه.
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 35 explained in plain English
This article deals with the case of a delay in issuing the chamber's estimated budget at the start of the fiscal year, and sets out three stages:
- Working on the previous budget: if the new budget is delayed, the chamber works on the previous budget's estimates until the General Assembly approves the draft new budget.
- A 90-day period and the Minister's approval: the General Assembly's approval must come within ninety days of the start of the fiscal year, and in this case the budget must, as an exception, be approved by the Minister, that is, the Minister of Commerce.
- Ministry intervention: if the ninety days pass without the budget being submitted to the General Assembly, or it is submitted and not approved, the Ministry may take whatever action it sees fit.
The purpose of the rule is that the chamber's work does not stop because of the delay, while this temporary situation does not drag on. The ninety days are counted from the start of the fiscal year, which under Article 34 is the state's fiscal year.
The article does not specify the kind of action the Ministry may take, leaving that to its discretion with the words "whatever it sees fit". It is followed by Article 36, which prohibits spending without an approved allocation.
Practical example
The fiscal year has started and a chamber of commerce's budget has not yet been issued. The chamber continues to work on last year's budget estimates. If the General Assembly approves the new budget within 90 days of the start of the year, it must be approved by the Minister. If the period passes without approval, the Ministry may take whatever action it sees fit.
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 35 of the Saudi Chambers of Commerce Law
What does a chamber do if its budget is delayed?
It works on the previous budget's estimates until the General Assembly approves the draft new budget within 90 days of the start of the fiscal year.
Does the Minister need to approve the delayed budget?
Yes. In this case the budget must, as an exception, be approved by the Minister.
What happens if the General Assembly does not approve within 90 days?
If the period passes without the budget being submitted or it is submitted and not approved, the Ministry may take whatever action it sees fit.
More articles on Chamber of Commerce Finances
- Article 30
Article 30 refers to the Implementing Regulations for the categories of chamber subscribers and the fee for each, and provides that the fee falls due 3 years after registration in the commercial register.
تحدد اللائحة فئات المشتركين في الغرفة، والمقابل المالي لاشتراك كل فئة، ويبدأ استحقاق المقابل المالي للمشترك في الغرفة بعد مضي (ثلاث) سنوات من تاريخ قيده في السج
- Article 33
Article 33 lists the chamber's financial resources: subscriptions, fees for certificates and attestation, investment returns, accepted donations and gifts, and fees for publications, training, conciliation, arbitration and any other service.
تتكون موارد الغرفة المالية مما يأتي: 1- المقابل المالي للاشتراكات. 2- المقابل المالي لإصدار الشهادات والمحررات، والتصديق عليها. 3- عوائد استثمار الأصول التي تمل
- Article 34
Article 34 makes the chamber of commerce's fiscal year the same as the state's fiscal year.
السنة المالية للغرفة هي السنة المالية للدولة.
- Article 36
Article 36 bars spending without an approved allocation or beyond it, and transferring or misusing allocations, without the board's approval; violations are void and those responsible must repay the funds within 30 days.
1- لا يجوز صرف أي مبلغ ليس له اعتماد في ميزانية الغرفة أو يزيد على الاعتماد المخصص له. ولا يجوز كذلك نقل مبلغ من باب إلى آخر في الميزانية، ولا استخدام اعتماد ما
- Article 37
Article 37 requires the chamber to have a licensed auditor chosen each year by its General Assembly from at least three nominated by the board, for no more than four consecutive years, who submits an annual report with a copy to the Ministry.
يكون للغرفة مراجع حسابات (أو أكثر) من مراجعي الحسابات المرخص لهم بالعمل في المملكة، تختاره الجمعية العمومية للغرفة سنويًّا من بين ثلاثة على الأقل يرشحهم مجلس إد
- Article 38
Article 38 requires the chamber's budget, financial statements and final accounts to be published as the Implementing Regulations set out.
تُنشر ميزانية الغرفة والقوائم المالية وحسابها الختامي وفقًا لما تحدده اللائحة.
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.