Article 13 of the Saudi Insurance Authority Statute
المادة 13 من تنظيم هيئة التأمين
The article requires the Authority to submit an annual report to the Prime Minister within 90 days of the start of each fiscal year, covering its achievements, difficulties and proposals.
Official text (Arabic)
This article has not been amended since the law was issued.
ترفع الهيئة إلى رئيس مجلس الوزراء خلال (تسعين) يومًا من بداية كل سنة مالية تقريرًا سنويًا عما حققته من إنجازات خلال السنة المنقضية وما واجهها من صعوبات وما تراه من مقترحات لتحسين سير العمل فيها.
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 13 explained in plain English
This article regulates the Insurance Authority's annual report.
To whom is it submitted? To the Prime Minister.
When? Within 90 days of the start of each fiscal year.
What does it contain?
- The achievements the Authority made during the year that has passed.
- The difficulties it faced.
- The proposals it sees for improving how its work proceeds.
The difference between this report and the final account: The final account is a financial statement, while the annual report addresses the Authority's performance and work. Note also that the period for the annual report is counted from the start of the new fiscal year, and it concerns the year that has passed.
The article does not specify the form of the report or any further details of its content beyond the three elements mentioned.
This article connects to Article 12, which regulates the appointment of an external auditor to audit the Authority's accounts, budget and final account, and to Article 14, which subjects the Authority's staff to the Labor Law and the Social Insurance Law.
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 13 of the Saudi Insurance Authority Statute
When does the Insurance Authority submit its annual report?
Within ninety days of the start of each fiscal year.
What does the Insurance Authority's annual report contain?
The achievements it made during the year that has passed, the difficulties it faced, and the proposals it sees for improving how its work proceeds.
More articles on Insurance Authority Resources and Budget
- Article 9
The article sets the Authority's resources: fees for its services, investment returns, gifts and donations the board accepts, and fines on violators, and regulates its accounts at the central bank and banks.
1- تتكون موارد الهيئة من الآتي: أ- المقابل المالي الذي تتقاضاه نظير الخدمات والأعمال التي تقدّمها. ب- عوائد استثمارات مواردها المالية المتاحة. ج- ما يقبله المجل
- Article 10
The article gives the Authority an independent annual budget approved under the legal procedures, with any surplus transferred to the Ministry of Finance after expenses, a general reserve of at least twice its expenses, and the state's fiscal year as its fiscal year.
1- تكون للهيئة ميزانية سنوية مستقلة من مواردها المالية، تقدم إلى وزارة المالية وتعتمد وفقاً للإجراءات النظامية المتبعة، ويحوَّل الفائض من مواردها المالية إلى وز
- Article 11
The article requires the Authority to submit its annual final account to the Prime Minister within 90 days of the end of the fiscal year, and to give the General Auditing Bureau a copy.
ترفع الهيئة إلى رئيس مجلس الوزراء حسابها الختامي السنوي خلال (تسعين) يومًا من تاريخ انتهاء السنة المالية، ويُزود الديوان العام للمحاسبة بنسخة منه.
- Article 12
The article requires the board to appoint one or more licensed external auditors to audit the Authority's accounts, without prejudice to the jurisdiction of the General Auditing Bureau, which receives a copy of the report once it is approved.
دون إخلال باختصاص الديوان العام للمحاسبة، يعين المجلس مراجع حسابات خارجيًّا (أو أكثر) من المرخص لهم بالعمل في المملكة، لتدقيق حسابات الهيئة ومعاملاتها وبياناتها
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.