MCI is Surveying the Opinions of the Public and those Interested about the Proposal of Anti-Commercial Concealment Law

29 May 2019

 

Based on the principle of participation and transparency, the Ministry of Commerce and Investment calls on the public and those interested to express their views and suggestions on the proposal of Anti-Commercial Concealment Law before 30/10/1440 H corresponding to 03/07/2019 AD.

This comes in line with the recommendations of the National Program for Combating the Commercial Concealment, which was approved by the Supreme Royal Order, in order to find radical solutions for commercial concealment. This would be achieved by unifying efforts, developing regulations and legislations and by raising awareness. MCI has been entrusted to review the system and propose the necessary amendments within 90 days, taking into consideration the current situations of the commercial concealment, as well as ensuring its compatibility with the Foreign Investment System.

MCI has explained that this proposal aims at protecting investors, individuals and the community against the harmful practices and effects of commercial concealment. This could be achieved by supporting small and medium enterprises and by overcoming the obstacles and challenges arising out of the commercial concealment. This proposal aims as well at protecting the consumer against any sub-standard goods or services, not complying with the approved standard specifications.

This proposal includes new policies to combat the phenomenon of commercial concealment, including imposing high penalties for committing such prohibited practices, also criminalizing the participation in such illegal acts. In addition, this proposal included some procedures for mitigation and exemption from punishment for the violators who initiate by themselves and report about such cases, besides developing mechanisms for protecting the informers and witnesses.

Among the most important provisions of this proposal are the imposition of stern measures on the violators, also maximizing the penalties relevant to the crime of commercial concealment, including 5-year imprisonment, and a fine of up to five million riyals, besides prohibiting the Saudi defendant from practicing the same trade activity for five years, along with deporting the expat from the Kingdom.

MCI calls on those interested and the public to express their opinions about the said proposal using the specified form, and communicate through the following e-mail (ACL@mci.gov.sa)

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Last Modified 30 May 2019
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