Article 12 of the Saudi Timesharing in Tourist Real Estate Units Law

This article brings together several general and closing provisions:

1. The register: the Authority establishes a register of the timesharing activity containing detailed data on contracts, sellers, buyers and the properties located in the Kingdom designated for this activity, as the Implementing Regulations show.
2. Where there is no provision: where the Law has no provision, the committee referred to in paragraph (1) of Article 10 applies the general rules of contracts regulating the rights and obligations of the parties to the contract. This committee is formed by decision of the chairman of the Authority's board, has no fewer than three members, one of whom is a legal adviser, and hears violations and imposes penalties.
3. Regularizing status: those carrying on the activity must adjust their status and amend their terms to conform with the Law within one year of its taking effect.
4. The fee: the Authority charges a fee for its services under the Law, and a Council of Ministers decision defines these services and the fee on the Authority's proposal. The Law does not set the amounts of this fee.
5. The Implementing Regulations: the chairman of the Authority's board issues them within 90 days of the date the Law is issued.
6. Taking effect: the Law is published in the Official Gazette and takes effect 90 days after its publication.

Note that the period for the Implementing Regulations is counted from the date the Law is issued, whereas the period for taking effect is counted from the date of its publication. The definition of (the Authority) was also amended in Article 1 to become (the Ministry: the Ministry of Tourism). Anyone carrying on this activity who needs to assess their legal position may consult a lawyer specialized in real estate matters.