RIYADH — The executive regulations of the new Sports Law grant the sports clubs and the Saudi Olympic Committee the authority to establish companies, as well as to contribute and participate in their establishment in addition to own real estate and invest their money, according to the terms and conditions specified in the regulations.
The regulations stipulate that maximum jail term of seven years or SR500000 in fine or of both will be slapped on those who are engaged in rioting and other crimes during sport events. These include acts of violence, riots, chaos, threats to the safety of those present, or damaging sports facilities or use a name to mislead others that it is a sporting entity without obtaining a license, Al-Eqtisadiah newspaper reported.
A maximum fine not exceeding SR100000 shall be imposed on any person among the spectators or those present if they commit an act or statement that incites hatred, racial discrimination or sports fanaticism, publicly and through any means. These also include an act or statement that is disgraceful or contrary to public morals, or disrupts competition or effectiveness, or prevents and obstructs the Sports Ministry’s inspectors from performing their duties, or giving false or misleading information or statements.
According to the regulations, sports clubs must obtain a license from the Ministry of Sports before establishing a sports company. The terms and conditions to apply for a license to establish a sports company oblige the company’s founders that its capital must not be less than the amount specified by the Minister of Sports and no less than the capital specified in the Companies Law, and the share of the foreign partner or shareholder must not exceed the percentage determined by the minister.
The Minister of Sports, in agreement with the Minister of Commerce, would issue the rules and regulations governing commercial companies and the restrictions that are subject to them. The sports company shall be an organized entity according to the Bankruptcy Law.
The new Sports Law stipulates that the sports entities will be exempted from customs duty for their imports. The Ministry of Sports has offered the draft Sports Law seeking feedback from the public and those interested through the “Istitla” platform of the National Competitiveness Center.
The ministry stated that the draft regulations aim to achieve six main goals, which are organizing the sports sector, people and entities related to the sector; governance of their activities; expanding the base of sports practitioners; establishing government principles and rules, in addition to providing an attractive environment for investment in the sports sector.
The regulations grant the Ministry of Sports powers to monitor, supervise, and follow up to verify compliance with the relevant laws and regulations. The ministry also sets the controls and conditions for sports entities to receive financial support from the state, and the power to monitor these entities to verify their commitment to their expenditures.
The new law is expected to come into force after 180 days from the date of its publication in the Official Gazette, and the minister will issue the regulations within 180 days from the date of publication of the law. This law replaces the Basic Law of Sports Federations and the Saudi Arabian Olympic Committee and cancels everything that contradicts provisions of the new law.
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