A member of the board of directors or any related parties to the company shall not have any direct or indirect interest in the transactions or contracts entered into by the company or for the company’s benefit. As an exception to the foregoing, some transactions or contracts may be concluded with them provided that such transactions or contracts are in accordance with the rules issued by the Concerned Body. The Regulations shall define the related parties, the transactions, rules and the disclosure principles of such transactions and contracts. The company must keep a register for recording the names of members of the board of directors and the Executive Management who have interests, the nature of such interests and the approvals or resolutions passed in respect thereof.
This site currently publishes a verified part of the instrument; the remaining provisions continue to exist and apply independently of their absence from this corpus. Interpretation and application must be checked against the official Arabic text and the current version.