Article 12 of the Saudi Real Estate Authority Statute

This Article deals with a specific matter, customs duties on the Authority's imports. The rule is that the Authority is treated, as regards exemption of its imports from customs duties, according to the rules applied to imports of public institutions.

This means the Article does not create an exemption specific to the Authority with separate conditions, but refers to existing rules that apply to public institutions. What is exempt for public institutions is exempt for the Authority, on the same conditions.

The text does not set out the content of those rules or the scope of the exemption, so they must be consulted in the rules applied to imports of public institutions, and it cannot be assumed that the exemption covers all imports without referring to them.

This Article concerns the Authority itself as an importing body, and does not relate to licensees or investors in real estate activities with whom it deals, who do not benefit from it. It comes among the Authority's financial provisions, alongside Article 11, which lists the Authority's resources and regulates the deposit of its funds, and Article 13, which provides that the Authority has an independent annual budget.