Article 15 of the Saudi Insurance Authority Statute

This is a closing article that sets when the Insurance Authority Statute starts to apply, and it contains two provisions:

• Publication: The statute is published in the Official Gazette.
• Taking effect: It takes effect 90 days after the date of its publication.

The statute does not start to apply on publication alone, but after this period has passed. From the date it takes effect, the provisions of the statute begin to apply.

The article does not state the actual date of publication, so the day the statute takes effect cannot be determined from its text alone.

This article connects to Article 14, which subjects the Authority's staff to the Labor Law and the Social Insurance Law; this provision, like the other provisions of the statute, applies from the date it takes effect.

The importance of this article for those who deal with the Authority and for those working in the insurance sector is that it fixes the moment from which the statute becomes the reference for the Authority's composition and powers. Anyone with a question about the date its provisions apply would do well to consult a lawyer who specializes in insurance and commercial cases.