Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
5. Bank Account Statements for a Period of Ten Years
Status: In-Force
Effective from Jan 31 2025 - Apr 30 2021 To view other versions open the versions tab on the right
5.1
The trustee or committee, as applicable, must be provided with the debtor's bank account statements for a period of ten years, upon completion of the court’s decision including any of the following:
A.
The initiation of liquidation or liquidation for small debtors for the natural or legal person and the appointment of a single trustee.
B.
The initiation of liquidation or liquidation for small debtors and the appointment of multiple trustees, specifying their duties and powers, including the request for bank account statements.
C.
The initiation of administrative liquidation and the appointment of the Bankruptcy Committee to manage the procedure.
D.
The suspension of the debtor’s authority and the appointment of the trustee to manage operations during financial reorganization proceedings.
