On 19 January 2023, the new Companies Law entered into force following the conclusion of the 180-day publication period, enacted by Cabinet Resolution No. 678 dated 29/11/1443H (corresponding to 28/06/2022) and ratified by Royal Decree No. M/132 dated 01/12/1443H (corresponding to 30/06/2022) (“New Companies Law”). The New Companies Law represents the first wholesale revision of the law since 2016 and implements a broad range of changes intended to reflect international practices and foster the growth…
The Council of Ministers of Saudi Arabia adopted a resolution dated 03/06/1444H (corresponding to 27 December 2022G) clarifying the consequences in terms of eligibility to compete for government contracts for companies that fail to locate their Regional Headquarters (“RHQ”) in Saudi Arabia. This clarification has been anticipated for some time, since the Kingdom first announced at the end of 2020 that multinationals wishing to continue contracting with the government would need to locate their RHQs…
In brief On 20 November 2022, the Saudi Data and Artificial Intelligence Authority (SDAIA) launched a public consultation on proposed amendements to the Personal Data Protection Law, promulgated by Royal Decree No. M/19, dated 09/02/1443H (“PDPL”), which was orginally published on promulgated on 24 September 2021. You can acces our previous alert on the publication of the PDPL here. The public consultation will remain open up until 20 December 2022 and all organisations are invited…
On 31 March 2022, the Ministry of Commerce published for consultation a draft Consumer Protection Law (“Draft Law”) on the Public Consultation Platform, which will close for comments on 15 May 2022. The Draft Law is intended to be administered by a yet to be defined competent governmental authority, presumably a department within the Ministry of Commerce (“Competent Authority”). The scope of the Draft Law is limited to business to consumer (B2C) transactions, as it…
On 16 March 2022 in Cairo, Egypt, members of the Arab Competition Network (the “ACN”) held their first conference to launch this new network. This alert provides a high-level presentation of the ACN, as well as an overview of its mission and goals. Background and Goals of the ACN The ACN is a product of the efforts and collaboration of the Arab League and the Egyptian Competition Authority. The ACN aims to provide a platform…