The Proposal of Meeting Rules for Insolvency Procedures

The Stages of Public Participation in Decision-Making relevant to the Proposal of Meeting Rules for Insolvency Procedures:

First: Presentation:
The draft of Meeting Rules for Insolvency Procedures had been prepared, Accepted by Project Management Office at the Deputy Ministry of Policies & Regulations Affairs ​.​​

Second: Publishing:
The draft of Meeting Rules for Insolvency Procedures was launched on 03.07.2019 AD, through the Ministry’s official e-portal​ and the social media, also direct SMS was sent to the groups concerned with the rules & regulations, in addition to publishing a news through the Saudi News Agency and other media, including a copy of the said system or regulation and a form for expressing opinions, comments or notes. 

Third: Collecting E-Posts:
The following email (insolvencylaw@mci.gov.sa) had been prepared to receive the feedback about the draft within the specified period. 

Total Public Participation in various channels 14​


Fourth: Analyzing the E-Posts:
After the survey deadline ended on 21.07.2019 AD, the officials in charge of this proposal prepared a schedule containing the articles, feedback, notes and suggestions to be studied by the specialists.

Article number​​
​​Article text before polling​
​​Public opinion
​​Amend the article based on electronic Counseling​
​Article 2nd 
​None​
​It is very important to define or specify the scope of the rules for the meetings that apply in a separate article that contains the incoming meetings because they are not sufficiently clear in the description of rules.
​These rules apply to the meeting on the proposal voting, and the creditors meeting held under Article (108) of the law, as well as the creditors committee meeting, also the meeting of the deceased debtors heirs and his creditors.
​Article 7Th
​If the meeting cannot be attended by the person assigned for its management, he shall authorize - in writing - whoever he deems appropriate for such management.
​The authorization text is sufficient, which is mentioned in the two-voting meetings on the proposal and the creditors ’meeting, according to Article (108) of the law, because the authorization is mentioned for other meetings in the law or in the executive regulations. This is to avoid repetition.
​If the meeting cannot be attended by the person assigned to manage any of the meetings referred to in Articles (3rd ) and (4th) of these rules, he must authorize - in writing - whoever he deems appropriate to manage the meeting. 
​Article 8th
​Any of the meetings referred to in these rules may be held, deliberated, and make voting on their decisions by using modern technology.
​- It is important for the person who manages the meeting to commit to do the necessary preparation for holding the meeting in a manner commensurate with the attendance and the nature of the meeting.

- it is important to emphasize that the opportunities to participate in the meeting is fair among the attendants. This is to achieve justice.
​1.The director of any of the meetings referred to in these rules is committed to take the necessary preparations for holding the meeting in proportion to its nature and the number of attendants, and he is committed to provide the opportunity to attend such meeting. This is for effective participation and voting.
2. Any of the meetings referred to in these rules can be held, deliberated and make voting on their decisions by using modern technology.​
Article 9th​
​Anyone calling for the meetings referred to in these rules – if needed - may invite others to attend such 
meeting without the right to vote.
Restricting the invitation for the meeting on those who have direct relation with the meeting, so that those who don’t have any relation should not be invited. 
​Anyone calling for the meetings referred to in these rules – if needed - may invite those who have direct relation with the meeting without the right to vote.
Article 12th 
Paragraph 2
​2. The Chairman of the Creditors Committee shall submit to the Secretary the minutes of the meeting within five days.
​The rules did not mention that the chairman of the creditor committee should submit a statement of the expenses incurred by the members, so that the secretary can take the necessary procedures to pay them, as stated in the law.
​2.The chairman of the creditors committee shall deliver the minutes of the meeting to the secretary within five days from the date of the committee meeting. He shall also provide a statement of the expenses incurred by the members of the creditors committee for attending the meeting, then the secretary shall take the necessary action for payment.


Fifth: Making and Announcing the Decision:
The amendments on the articles were studied and approved by the Ministry’s officials, and the said system was published through the Ministry’s official e-portal​ and social media, also via the Saudi News Agency and other various media.

Sixth: Closing the Discussion and Archiving:
After announcing the decision, the subject was officially closed and all the relevant documents were archived.




Last Modified 14 Oct 2020
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