First: Chambers of Commerce and Industry Regulation
Title One: Foundation of the Chambers of Commerce and Industry
The Chamber of Commerce and Industry is a non-profit commission. The Chamber represents as part of its terms and references the commercial and industrial interests of the public authorities and works to protect and develop them.
The Chamber of Commerce and Industry shall have its legal personality. The Chairman of its Board of Directors manages and represents it in front of the judiciary and others.
The Chambers of Commerce and Industry are established by a resolution of the Minister of Commerce and investment in agreement with the Minister of Industry and Electricity. It defines the headquarters of the Chamber, terms of reference and the minimum number of its subscribers. This number shall not be less than (30) thirty natural and legal persons from those working in Commerce or Industry and registered in the Commercial Register. The Chamber may establish sub-offices within its terms of reference after the approval of the Minister of Commerce.
Every traders or industrialist registered in the Commercial Register shall apply for subscription in the Chamber where his main business is located. It is permissible to subscribe in more than one Chamber in case there are branches. The subscription in the Chamber shall be canceled by eliminating the commercial Register or by failure to pay the annual subscription fee despite notifying the subscriber. It is permitted to re-register once the constraint is removed.
Title (Two): Chambers of Commerce Terms of Reference
The Chamber of Commerce and Industry is concerned with the following issues :
A- Collect and publish all data and statistics associated with commerce and Industry.
B- Prepare all the studies and researches connected with commerce and Industry.
C- Provide the governmental authorities with the data and information regarding commercial and industrial issues.
D- Submission of suggestions regarding the protection of national commerce and Industry from foreign competition.
E- Inform the traders and industrialist of the regulations, resolution, and instructions related to commercial and industrial issues.
F- Directing the traders and industrialist to the most important countries and area from which they can import and export their goods to and guiding them also to the path of trade and industry development.
G- Riyadh Chamber Identify and discuss the problems of the traders and industrialist in preparation for their submission to the concerned governmental authorities.
H- Settlement of the commercial and industrial disputes through arbitration if the parties to the conflict agree to refer them to arbitration.
I- Enlightening the traders and industrialists of the new investment opportunities in the commercial and industrial fields through coordination with the concerned authorities.
J- Encouraging the traders and industrialists and urging them to benefit from the local and foreign expertise houses and encouraging investment in joint projects to contribute to the achievement of development.
The Chamber of Commerce and Industry may -after the approval of the Minister of Commerce-, hold exhibitions, markets, technical training centers and all that may contribute to the progress and development of trade and Industry.
The Chamber of Commerce and Industry may after the approval of the Ministry of Commerce participate in the conferences related to the nature of its activity and organize the delegation and receiving commercial and Industrial delegations.
The Chamber of Commerce and Industry certify and issue the certificates and documents specified by a resolution of the Minister of Commerce by applying fees determined by the Minister of Commerce.
To achieve their objectives, the Chambers of Commerce and Industry may carry out the following:
A- Issue the magazines and publications which serve the commerce or Industry.
B- Communicate with other Chambers or governmental authorities to obtain the data and information related to commerce or Industry.
C- Set up the specialized committees from the subscribers or others to prepare the studies, researches, and reports which assist in commerce and industry development.
D- Obtain and establish the real estates required to achieve their objectives.
The Chambers of Commerce Industry shall not work for themselves or work in mediation in the commercial or industrial works.
Title (Three): Management of the Chambers of Commerce and Industry
Each Chamber shall have its own General Assembly and Board of Directors.
The General Assembly consists of all subscribers in the Chamber.
The General Assembly shall be competent to:
A- Election of two-thirds of the Board of Directors members in which to be 50% of them shall be traders and 50% industrialists if a sufficient number of them is available.
B- Discussion of the Board of Directors' report about the activity of the Chambers and their financial position.
C- Deliberation in the closing balance of the financial ending year and the draft budget of the following year.
D- Discussion of the Chamber's affairs and the issues which the Board sees that the Assembly shall approve them.
The Assembly submits the draft budget and the final account to the Minister of Commerce for approval.
The General Assembly meets at least once every year during the three months following the end of the fiscal year. It may be invited to convene at the request of Board of Directors or (20%) of the number of the subscribers of the Chamber.
The Minister of Commerce and investment in agreement with the Minister of Industry and Electricity issue a resolution of the procedures. It should be followed to hold a meeting of the General Assembly, the start of its responsibilities and the way of its election.
Board of Directors
The Board of Directors shall be composed of at least six members and not to exceed eighteen members. The Minister of Commerce appoints one-third of the members in agreement with the Minister of Industry and Electricity. The General Assembly selects the other by-election provided that the industrialist and traders are fairly represented.
Both the Minister of Commerce and the Ministry of Industry and Electricity may appoint in the Chamber a delegate whose task is a consideration of the implementation of the regulations and resolutions. The delegate has the right to attend the meetings of the General Assembly, the Board of Directors, and the Committees. Also, the delegate is entitled to review the minutes of meetings, books, and accounts. However, the delegate shall not have a vote in the deliberations.
In its first meeting, the Board of Directors elects the Chairman and his two deputies.
The term of membership of the Board of directors is four years, and it is permissible to reappoint those whose term expires for one or other terms.
If the position of a Board member becomes vacant due to the member death, resignation or losing one of the membership conditions. Therefore, the member shall be replaced by the member who wins the highest votes of the elected members. If the member is not available or the vacant position for a certain member, the Minister of Commerce may appoint another member to replace him. The membership, in this case, shall be until the end of the term of the predecessor.
The Board members must be:
A- A Saudi National.
B- Must be a subscriber in the Chamber.
C- Must not be less than thirty years old, and it may be reduced to twenty-five years old. This is only if he has a university degree in connection with commercial and industrial works.
D- Must have worked in the field of commerce and Industry for three successive years. The Minister of Commerce may reduce this period to one year to those who have a university degree in the field of commercial and industrial works.
E- Must be fluent in reading and writing.
The Board of Directors member is not permitted to participate in the deliberation of the issues in which the member has a direct personal interest.
The Board member has not entitled a salary for his work in the Board. However, he has the right to get a transportation allowance, travel allowance or allowance for attending the Board's sessions under the terms and conditions issued by the Minister of Commerce based on the Board's proposal.
The Board managed the affairs of the Chamber and entitled all powers required to achieve its objectives. The Board issues the required financial and administrative regulations and instructions and can set up committees and authorizes power to ensure the good performance of work in the Chamber.
The Board prepares the annual report about the activity of the Chamber, the final account and the draft budget to submit them to the General Assembly. The Board sends a copy of these to the Minister of Commerce and the Ministry of Industry and Electricity by attaching to them the suggestions of what the Board deems fit.
The Board of Directors meets at least once every two months. The meeting shall take place according to the invitation of its Chairman. The Chairman shall send the invitation of the meeting. The Chairman shall send a meeting invitation whenever this is requested by one-third of the members of the Board. The deliberations of the Board shall not be valid without the attendance of more than half of the members. If the quorum is not completed, the second meeting will be valid. Only if the number of the attending members is not less than one-third of the Board members, including the Chairman or one of his two deputies.
The Board resolutions are issued by an absolute majority of the members attending if the votes are equal, the Chairman's side shall prevail.
Any member who fails to attend three successive sessions without legitimate excuse shall be considered as resigned.
The Board of Directors appoints a certified accountant who shall have the right to review the books, documents and show his remarks. He shall have to audit the final account and submit a report about it to the General Assembly.
The Board of Directors appoints a Secretary-General for the Chamber to be responsible for its administrative and financial works. He has the right to attend the meetings of the Board of Directors without having a numbered vote in the deliberations.
The Secretary-General is competent to carry out the following:
A- Implementation of the resolutions of the Board of Directors.
B- Implementation of the tasks assigned to him by the Board of Directors' Chairman.
C- Monitor the employees of the Chamber in their performance of work, and each employee submits a report at the end of each fiscal year.
D- Preparation of the draft budget and the final account.
E- Take the necessary procedures for the General Assembly's meeting and the meetings of the Board of Directors.
Title (Four): Budget of the Chambers of Commerce and Industry.
The financial resources of the Chamber consist of:
A- Subscriptions in accordance with the categories of the traders and industrialist determined by a resolution of the Minister of Commerce.
B- Fess of the issuance and certification of the certificates and documents.
C- The financial resources of the Chamber consist of Revenues of the investment of its funds.
D- Donations, grants, national and governmental subsidies.
With no prejudice to the provisions of this regulation, the Chamber invests its funds per the objectives which it was established for it. Also, in the manner determined by the Board of Directors.
The fiscal year of the Chamber starts on first of Rajab and expires at the end of the month of Jamadi II every year.
The Secretary-General submits the draft budget to the Board of Directors at least two months before the end of the fiscal year. Also, he submits the final account to the Board during the month of Rajab.
The General Assembly approves the budget and the final account. The estimates of the last budget shall be applied until the approval of the General Assembly's decisions by the Minister of Commerce.
Title (Five): Council of the Chambers of Commerce and Industry
The Council of the Chamber of Commerce and Industry is established to look after their joint interests. It has a legal personality, and it shall be based in Riyadh with the following terms of reference:
1- Conduct of researches and studies aimed at the development of trade, increasing, and improving the industrial, agricultural, and animal production. Also, issuing a periodic magazine to publish these researches with other researches to deal with the most suitable agricultural, commercial, and industrial investment.
2- Representation of the Chambers of Commerce and Industry in all aspects related to its national, and international activities.
3- Practicing arbitration and settling commercial and industrial disputes. This is if the parties to the dispute agree to refer it to them, and the dispute was between the parties affiliated to more than one Chamber, or one party was a local, and the other was a foreigner.
4- Create and manage the kind of activity which will help the general economy, such as permanent exhibitions, markets, and commercial institutes after the approval of the authorities concerned.
The Council consists of the Chairmen of each Chamber, his vice (in case of his absence) and one elected member of the Board of Directors of each Chamber. The Council elects in the first meeting the Chairman and two deputies. The membership period in the Council is for three years. The Chairman shall not be elected for two consecutive terms.
The establishing of the Council is issued by a resolution by the Ministry of Trade in agreement with the Minister of Industry and Electricity. The Council organizes the manner of the work progress, its financial affairs, and its relationship with the participating Chambers.
Title (Six): General Provisions:
The Minister of Commerce issues in agreement with the Minister of Industry and Electricity the executive regulations and the resolutions required for the implementation of this regulation.
This regulation eliminates the effective Chambers of Commerce and Industry regulations and cancels all other regulations, resolutions, or instructions contradictory to it.
This regulation shall be effective after three months from its publication in the Official Gazette.