Article 27 of the Saudi Finance Lease Law

This article sets who issues the Implementing Regulations of the Law and when:

• Who issues them: the Governor, who under Article 1 is the Governor of the Saudi Arabian Monetary Authority, in agreement with the Minister of Justice. So the Regulations are issued by joint action of the two bodies.
• The period: within 90 days of the date the Law is issued.

This article is very significant, because many articles of the Law refer their details to the Regulations, so the Regulations complete the picture on the matters the Law referred to them. So anyone dealing with finance leasing should refer to the Regulations as well as the Law, not to the Law alone.

Note the difference between this article and Article 28: the period for issuing the Regulations is counted from the date the Law is issued, while the Law takes effect after 90 days from the date it is published in the Official Gazette.

It should be noted that the word "the Regulations" wherever it appears in the Law means these Implementing Regulations, according to the definitions in Article 1.