Article 22 of the Saudi Precious Metals and Gemstones Law

This is a closing article, and it contains two rulings:

• Repeal: this Law repeals the Goldsmiths Law issued by Royal Order No. 8117 dated 28/6/1360 AH, and also repeals everything that conflicts with its provisions. The Goldsmiths Law is no longer in force, and the reference for regulating the sector is this Law.
• Entry into force: the Law takes effect 90 days after its Implementing Regulations are published in the Official Gazette.

Note that the date of entry into force here is tied to publication of the Implementing Regulations, not to publication of the Law itself; the period is counted from the date the Regulations are published.

This article connects to Article 21, which assigns the issuing of the regulations and decisions needed to implement the Law's provisions to the Minister of Commerce in agreement with the Minister of Industry and Mineral Resources.

Knowing this ruling is useful to anyone who finds references to the Goldsmiths Law in old documents, since that Law was repealed by the text of this article. Anyone who needs to assess the effect of that on an earlier dealing may consult a lawyer specializing in commercial cases.