Article 4 of the Saudi Minors' Property Guardianship Law

This article provides that the Authority's board of directors is its supreme authority: it takes charge of its affairs and sets the general policy it follows. As Article 3 shows, the board is chaired by the Minister of Justice, with the head of the Authority as his deputy, and nine members with experience.

Its competences in particular include:

• Proposing draft laws relating to the Authority's work, preparing the Implementing Regulations of this Law, and approving the financial and administrative regulations.
• Forming committees and giving them powers, provided that the Ministry of Social Affairs participates in any committee related to its competence, and delegating some of its powers to the Authority's personnel.
• Safeguarding the property of those covered by the Law that is located outside the country and specifying how it is administered.
• Regulating the methods of investing the property of those covered and administering it.
• Establishing branches and offices of the Authority.
• Approving the annual report and final accounts and submitting them to the Prime Minister, and approving the draft budget and financial estimates.
• Allocating a percentage not exceeding 5% of the net investment return on the funds the Authority manages for what benefits the public in all its purposes and covers part of its expenses.
• Approving the annual accounts of the revenues and expenses of the endowments covered by the Law.

The importance of this article for families is that it shows investment decisions and general policies for minors' property are issued by a collective body, and that the percentage that may be allocated from the return has an upper limit of 5%. Article 5 governs the board's meetings, quorum, and the way its decisions are issued.