Article 29 of the Saudi Financial Control Law

This article sets the date the Financial Control Law starts to apply, which is 120 days after its publication in the Official Gazette. The Law does not become effective on the day of publication, but after this period has passed.

Why this period? Its purpose appears when it is read with Article 27, which requires the Minister of Finance to issue the Implementing Regulations within 120 days of the date the Law is published and makes them effective from the date the Law takes effect. The two identical periods allow the Implementing Regulations to be ready when the Law starts to apply, which matters because many of the Law's articles refer to the Implementing Regulations.

The period also gives the entities subject to the Law time to prepare for their obligations, including the responsibilities listed in Article 15, such as developing an adequate and effective framework for internal control systems and making their personnel aware of its requirements.

How is it counted? From the date of publication in the Official Gazette, not from the date the Law was issued. The article does not state the publication date itself, so reference should be made to the Official Gazette where the day of effect needs to be determined precisely.

Effect of taking effect: when the Law starts to apply, what Article 28 provides takes effect: that this Law replaces the Law of Financial Representatives issued by Royal Decree No. M/85 dated 20/9/1380 AH.

Anyone who needs to determine which law applies to a financial operation according to the date it occurred can consult a lawyer specialized in administrative cases.