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Article [19]

Date(g): 13/6/2023 | Date(h): 25/11/1444 Status: In-Force

Effective from Jun 13 2023 - Jun 12 2023
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 1.The licensee shall obtain a non-objection from the SAMA before contributing to or engaging in establishing any entity or commercial or investment activity or starting to practice any of those activities.
 2.The SAMA may stipulate within the conditions of the license that the licensee or applicant be obligated to establish an independent legal entity for activities that are not subject to the Law and Regulations, if the provision of these activities results in any of the following:
   A.Affecting the financial solvency of the licensee.
   B.Affecting the ability of the SAMA to supervise the licensee.
   C.Affecting the licensee’s compliance with applicable laws, regulations and decisions.
   D.

Affecting the licensee in any other way, as determined by the SAMA.