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Shoura Council approves mortgage law amendments
SPA Published in The Saudi Gazette on 18 - 01 - 2011

RIYADH: The Shoura Council here approved amendments to some articles of the Commercial Mortgage Regulation, said Dr. Mohammed Bin Abdullah Al-Ghamdi, Secretary General of the Shoura Council, in a statement after the meeting Sunday.
The session was presided over by Sheikh Dr. Abdullah Bin Muhammad Bin Ibrahim Aal Al-Sheikh, the Chairman of the Shoura Council.
The Commercial Mortgage Regulation was issued by Royal Decree No. (M/75) on 21/11/1424H. The Council also approved the reconsideration of the Royal Decree No. (M/14) on 16/04/1421H concerning the arrangements of payment of debt in the event of bankruptcy.
The decree was returned to the Council pursuant to Article (17) of the Shoura Council Regulation.
The Council also approved the suitability of studying the proposed draft regulation of the General Authority for Small and Medium Enterprises.

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