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1. Definitions

No: 42066419 Date(g): 1/5/2021 | Date(h): 20/9/1442 Status: In-Force

Translated Document

1.1The words and phrases used in these instructions shall have the meanings defined in Article (1) of the Bankruptcy Law, issued by Royal Decree No. (M/50) dated 28/05/1439 H, and Article (1) of its Implementing Regulations, issued by Council of Ministers Resolution No. (622) dated 24/12/1439 H.
1.2The following words and phrases -wherever they appear in these instructions- shall have the meanings set forth below, unless the context requires otherwise:
 

Central Bank: The Saudi Central Bank.

The Law : The Bankruptcy Law.

The Regulation:: The Implementing Regulations of the Bankruptcy Law.

Competent Court: The court where the request to commence bankruptcy proceedings is filed.

The Committee: The Bankruptcy Committee.