Provisions for Joint Stock Companies Under the New Companies Law
Explore our New Companies Law Series Below: Provisions for Joint Stock Companies Under New Companies Law Introduction: The newly enacted Companies Law of 1443 H. (Law) in Saudi Arabia became effective on 16 January, 2023. The companies are required to change their constitutional documents (Articles of Association or Articles of Incorporation) in order to amend, change and remove the articles that are in conflict with the provisions in the Law and more importantly to do away with the restrictions that were mandated in the old law or avail of flexibility accorded by the Law. The part which has undergone an extensive and comprehensive revisions is the ‘Joint Stock Companies’ Section which is quite understandable as JSCs needs to be more