1. Definitions
| No: 42066419 | Date(g): 1/5/2021 | Date(h): 20/9/1442 | Status: In-Force |
Effective from 2021-05-01 - Apr 30 2021
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| 1.1 | The 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 AH, and Article (1) of its Executive Regulations, issued by Council of Ministers Resolution No. (622) dated 24/12/1439 AH. |
| 1.2 | The 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 Executive Regulations of the Bankruptcy Law. Competent Court: The court where the request to commence bankruptcy proceedings is filed. The Committee: The Bankruptcy Committee. |