Article 31 of the Saudi Finance Companies Control Law
المادة 31 من نظام مراقبة شركات التمويل
The article makes the competent court the body that decides disputes arising from the application of the Law and its regulations, hears violations of them and imposes the penalties set out in the Law.
Official text (Arabic)
This article has not been amended since the law was issued.
تتولى المحكمة المختصة الفصل في المنازعات الناشئة عن تطبيق أحكام هذا النظام ولائحته، والنظر في مخالفات أحكامهما وإيقاع العقوبات المنصوص عليها في هذا النظام.
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 31 explained in plain English
This article identifies the judicial body for matters under this Law: the competent court. It gives the court three tasks:
- Deciding disputes arising from the application of the Law and its regulations.
- Hearing violations of the provisions of the Law and the regulations.
- Imposing the penalties set out in the Law.
The article does not name a specific court; it uses only the phrase "the competent court".
It is preceded by Article 30, which allows any interested person to challenge the Authority's decisions before the competent court within 60 days of learning of the decision. It is followed by Article 32, which allows the Governor to appoint qualified employees with law-enforcement status to carry out inspection and oversight, investigate violations and act as public prosecutors before the competent court. The full picture: the enforcement employees investigate and prosecute, and the competent court decides and imposes the penalties.
If you have a dispute arising from the application of this Law, you are advised to consult a lawyer specialized in banking and finance to determine the appropriate procedure.
Practical example
A dispute arose between a customer and a finance company in Riyadh over the application of a provision of the Law to the customer's contract. Under this article, the competent court decides this dispute because it arises from the application of the Law's provisions.
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 31 of the Saudi Finance Companies Control Law
Which body decides disputes under the Finance Companies Control Law?
The competent court decides disputes arising from the application of the Law and its regulations.
Who imposes penalties on those who violate the Law?
The competent court hears the violations and imposes the penalties set out in the Law.
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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.