Amlak Newspaper publishes the text of the Economic Cities Authority Regulations ( 1 )

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Amlak real estate newspaper is pleased to publish the text of the regulation of the Economic Cities Authority stipulated by Cabinet Decision No. A 91 dated 01-3-1341, for general benefit.

Amending paragraph (1) From Article (IV) of the organization of the Economic Cities Authority

With the help of God Almighty, we, Salman bin Abdulaziz Al Saud, King of the Kingdom of Saudi Arabia, after reviewing the Basic Law of Governance issued by Royal Decree No. (A/90) on 278-1412H, and after reviewing the organization of the Economic Cities Authority, issued by Royal Decree No. (A/19) on 10-3-1431H.

After reviewing Royal Decree No. (A/116) dated 5-5-1436H.

After reviewing Royal Decree No. (2698) dated 15-1-1437H.

After reviewing Royal Decree No. (2698) dated 15-1-1437H.

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After reviewing Minutes No. (108) dated 30-1-1437H, prepared by the Board of Experts of the Council of Ministers

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We ordered the following::

First: Amending paragraph (1) of Article 4 of the organization of the Economic Cities Authority by Royal Decree No. A19 dated 10-3-1431 AH to be as follows:

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1- The Authority shall have a Board of Directors headed by the Chairman of the Council of Economic Affairs and Development, and a number of experienced and specialized members from the public and private sectors, nominated by the Chairman of the Council, whose appointment shall be issued by a royal decree specifying their remuneration.

1- The Authority shall have a Board of Directors.

2- Our order shall be communicated to the competent authorities for adoption and implementation.

2- This order shall be communicated to the competent authorities for adoption and implementation.

Salman bin Abdulaziz Al Saud

Organization of the Economic Cities Authority

Definitions

Article I:

The following terms and phrases, wherever used in this organization, shall have the meanings indicated before them, unless the context otherwise requires:

Regulation: Economic Cities Regulation.

Regulation.

Organization: Economic Cities Authority.

Economic Cities Authority.

Board: The Board of Directors of the Authority.

Economic Cities (or Economic City): Saudi economic cities that currently exist or will be established in the future.

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Investor: Any natural or legal person who invests in economic cities, whether Saudi or foreign.

Investor: Any natural or legal person who invests in economic cities, whether Saudi or foreign.

Developer: A legal entity that is entrusted - under a special agreement entered into by the Authority - with the development of the geographical area designated for the establishment of the economic city, by establishing its infrastructure and establishing the necessary projects and services, either by itself or through third parties.

Developer:

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Secretary General: The Secretary General of the Economic Cities Authority.

City Executive Director: The Executive Director of the Economic City Developer Company.

City Executive Director.

Operator: The legal entity entrusted with the operation of a service or service facility in economic cities.

Operator: The legal entity entrusted with the operation of a service or service facility in economic cities.

City Master Plan: The set of documents agreed upon by the Authority and the developer, which sets the general framework for the design of the city.

City Master Plan.

60*24*7 concept: The completion of each government service in no more than sixty (60) minutes, twenty-four hours a day, seven days a week.

Sixty*24*7 concept.

The establishment of the Authority, its statutory status and tasks

The establishment, statutory status and tasks of the Authority

Article II:

1- A body called the Economic Cities Authority is hereby established, linked to the King, with legal personality, financial and administrative independence, headquartered in King Abdullah Economic City in Rabigh Governorate, and may establish branches or offices within the Kingdom to perform its tasks.

1- The Economic Cities Authority is hereby established and linked to the King.

2- The Authority operates on commercial principles and standards and enjoys the flexibility and powers that enable it to carry out its tasks in accordance with its internal, financial and administrative regulations stipulated in this organization.

2- The Authority operates on commercial principles and standards and enjoys the flexibility and powers that enable it to carry out its tasks.

Article III:

3- The Authority shall assume full administrative and financial supervision of the economic cities in order to achieve their objectives of localizing national capital and attracting foreign investment and the objectives of the Kingdom's development plans, and in particular shall have the following:

1. Conclude agreements and contracts, develop plans and programs, and conduct the necessary studies to develop economic cities, support them, monitor their growth, and preserve their gains.

1.

2- Reviewing and approving the general plans of the economic cities, ensuring their proper application, and approving any amendment proposed by the developer to the general plan.

2.

3- Setting regulations that determine the best international specifications and standards for all infrastructure works in economic cities and determining the conditions for the construction of buildings, roads, ports, industrial, commercial and residential areas and the provision of services of public interest, taking into account security, safety, environment and public health conditions.

3- Setting regulations that determine the best international specifications and standards for all infrastructure works in economic cities.

4- Establishing the necessary controls for the management, operation and safety of industrial zones within economic cities.

4.

5- Issuing licenses for various commercial, industrial, service, professional, educational, training and health activities, according to regulations and standards set by the Council, including the method of supervision and control of these activities.

5- Issuing licenses for various commercial, industrial, service, professional, educational, training and health activities.

6. Determine the financial compensation for licenses and services provided in the economic cities.

6.

7. Preventing the fact of utilization within economic cities.

7.

8- Establishing companies or entering them as a partner, in accordance with the legal procedures followed, in order to achieve the tasks and competencies entrusted to the Authority.

8.

9- Follow up the application of design, construction, operation and maintenance controls.

9.

10- Establishing controls and procedures governing the work and responsibilities of the Executive Director of the Economic City.

10.

11- Supervision and control over developers, investors, operators, contractors, workers, residents and visitors in the economic cities.

11.

12. Perform any other task consistent with the nature of its work or the purpose of its establishment.

12.

Article IV:

1- The Authority shall have a Board of Directors chaired by the Chairman of the Council of Economic Affairs and Development, and a number of experienced and specialized members from the public and private sectors, nominated by the Chairman of the Council, whose appointment shall be determined by a royal decree specifying their remuneration.

1- The Authority shall have a Board of Directors.

2- The term of membership of the Council shall be three years, renewable.

2.

Article V:

The Council is the authority responsible for the affairs of the Authority and supervises its management and conducts its affairs and chooses the method it deems appropriate to implement and operate the economic cities, without being bound by the applicable financial and administrative rules, including the powers related to the tasks and competencies of the Authority provided for in this organization, and in particular has the following:

1- Establishing the policies by which the Authority pursues its purposes and adopting the necessary programs.

1.

2. Adopt the organizational structure of the Authority and its internal, financial and administrative regulations.

3- Adopting the financial compensation for licenses and services provided in economic cities.

4- Adopting controls for granting utilization rights within economic cities.

4.

5- Adopting the annual work plan and operational plans of the Authority.

5.

6- Approve the Authority's draft annual budget, final account, auditor's report and annual report in preparation for submission to the King.

7- Forming committees and authorizing them with the necessary powers to accomplish the tasks assigned to them.

7- Forming committees and authorizing them with the necessary powers to accomplish their tasks.

Article VI:

1- The meetings of the Board shall be held at the headquarters of the Authority, and may, if necessary, be held at any other place within the Kingdom.

1.

2- The Board shall meet at the invitation of its Chairman once every three months, or whenever the need arises as estimated by the Chairman of the Board, or if requested by at least half of its members, and the invitation must be sent - in writing - at least seven days before the meeting and include the agenda.

2- The Board shall meet at the invitation of its Chairman once every three months.

3- Council meetings shall be held in the presence of a majority of the members, including the Chairman or his representative.

3.

4- Each member of the Board shall have one vote, and decisions shall be made by a majority vote of the Board members.

4- Each member of the Board shall have one vote.

5- Any member may not authorize another person to vote on his behalf in his absence.

5.

6- The deliberations of the Board shall be recorded in minutes signed by the Chairman of the meeting and the members present, and a member who objects to any decision may state his objection with reasons in the minutes.

6.

7- A member may not disclose any of the secrets related to the work and activities of the Authority that he has learned because of his membership in the Council.

7.

8- The Board may invite to attend its sessions those whose information and expertise it deems necessary without the right to vote.

8- The Board may invite to attend its sessions those whose information and expertise it deems necessary without the right to vote.

Secretary General

Article VII:

The Authority shall have a Secretary-General appointed by the King who is the executive responsible for its administration and whose responsibilities shall be concentrated within the limits of what is stipulated in this organization and what is decided by the Council and shall exercise, in particular, the following functions and powers:

The following functions and powers:

1- Supervise the preparation of the meetings of the Council.

1.

2. Follow up on the implementation of the decisions issued by the Council.

3- Supervising the preparation of the Authority's draft budget, draft final account and annual report, and presenting them to the Board.

3.

4- Supervise the employees of the Authority in accordance with the powers granted to him and the regulations.

5- Issuing orders for the Authority's expenses according to the approved annual budget.

5.

6- Submit periodic reports to the Council on the work, achievements, and activities of the Authority.

6.

7- Propose the Authority's plans and programs, and supervise their implementation after the Board approves them.

7.

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