The terms and phrases listed below - wherever they appear in this regulation - shall have the meanings set forth before each of them:

• The Foundation: King Salman Park Foundation.

• The Authority: Royal Commission for Riyadh City.

• The Regulation: Regulation of the Foundation.

• The Council: Board of Directors of the Foundation.

• The President: President of the Council.

• The CEO: CEO of the Foundation.

• The Park: King Salman Park.

• The Geographical Scope: The geographical boundaries of the park within which the Foundation exercises its competencies in accordance with the provisions of the regulation, as defined in the accompanying map of the regulation, including its area and limits.

The institution enjoys public legal personality and financial and administrative independence, and is organizationally linked to the President of the Council of Ministers, with its main headquarters located in the city of Riyadh. 

The institution operates on non-profit commercial principles and standards, enabling it to fulfill its responsibilities and perform its tasks in organizing and developing its services; this is in accordance with the regulations approved by the Council.

The Authority supervises the institution - in accordance with the powers granted to it by law - by approving its visions and strategic plans, as well as the controls and planning standards set by the institution, and the relevant construction systems related to the park. 

The institution aims to enhance the competitiveness of the city of Riyadh and improve the quality of life by providing green spaces and vegetation for a better environment, and supporting the local economy by creating more job opportunities. To achieve this - without prejudice to what is stated in paragraph (2) of Article (3) of the law - it has all the necessary powers that enable it to exercise its authorities within the geographical scope, particularly the following:

• 1. General supervision of the park.

• 2. Establishing policies, plans, and necessary executive programs to carry out its missions.

• 3. Proposing necessary urban regulations for the areas surrounding the park - as specified in the accompanying map of the law - in coordination with the Riyadh Municipality; in preparation for completing what is necessary for its approval according to legal procedures.

• 4. Designing, planning, implementing, managing, operating, developing, and maintaining the park and its associated facilities and services, and it may delegate any of these tasks to whomever it deems appropriate according to regulations set by the council.

• 5. Encouraging investment in the park.

• 6. Disposing of the real estate owned by it and investing in it; according to regulations set by the council. 

• 7. Investing its movable property and the real estate allocated to it; according to regulations set by the council.

• 8. Establishing companies or entering into partnerships or contributing to them, and creating investment funds or similar entities or contributing to them; in accordance with the applicable legal procedures.

• 9. Cooperating and exchanging expertise with local, regional, and international bodies and organizations related to the institution's activities.

1- The institution shall have a Board of Directors formed by a President appointed by a decree from the President of the Council of Ministers, and members numbering no less than (six) as follows:

• A- Members representing their job positions, including the Chief Executive Officer of the authority.

• B- Members with expertise and specialization.

2- A decree from the President of the Council of Ministers shall be issued to determine the job positions referred to in paragraph (A) of paragraph (1) of this article, and to appoint the members mentioned in sub-paragraph (B) of paragraph (1) of this article, based on a nomination from the President of the Board of Directors of the authority.

3- The term of membership for the members with expertise and specialization - referred to in sub-paragraph (B) of paragraph (1) of this article - shall be (three years), renewable for a similar term and only once.

The Council is the governing authority responsible for managing the affairs of the institution, overseeing its administration, and conducting its matters. It makes all necessary decisions to achieve its objectives, and specifically - without prejudice to what is stated in paragraph (2) of Article (3) of the Law - it has the following powers:

• 1. Approving the policies related to the institution's activities, and the plans and executive programs necessary for their implementation, and supervising their execution.

• 2. Approving the procedures, rules, and standards related to the work of the institution, its activities, and its projects.

• 3. Determining the types of licenses and permits required to conduct activities in the park, and establishing the necessary controls and conditions for each, in coordination with the relevant authorities. 

• 4. Approving the organizational structure of the institution.

• 5. Approving the financial regulations.

• 6. Approving the administrative regulations - governing the affairs of the institution's employees - and other internal regulations necessary for the operation of the institution. 

• 7. Determining the financial compensation for the services and works for which the Council deems it appropriate to collect a financial fee.

• 8. Approving the draft budget of the institution, its final accounts, the auditor's report, and the annual report; in preparation for submitting what is required according to the applicable legal procedures.

• 9. Approving the establishment of companies or entering into partnerships or contributing to them, and approving the creation of investment funds or similar entities or contributing to them; in accordance with the applicable legal procedures.

• 10. Approving the conclusion of agreements, protocols, and contracts, according to the applicable legal procedures.

• 11. Accepting gifts, grants, donations, bequests, and endowments, in accordance with the applicable legal procedures.

• 12. Appointing an internal financial auditor.

The Council may form permanent or temporary committees from among its members or others, delegating to them the tasks it sees fit, specifying in the decision to form each committee its chairperson, members, and competencies. The committee may seek assistance from whomever it deems necessary to perform the tasks assigned to it. The Council may delegate some of its tasks to its President, any of its members, or the Chief Executive Officer, as required by the operation of the institution.

1. The Council meetings are held at the institution's headquarters, and they may be held elsewhere with the approval of the Council President.

2. The Council meets at the invitation of its President once every three months, and whenever necessary as deemed by the Council President, or if requested by at least one-third of the members. The invitation must be sent in writing at least seven days prior to the meeting, and it must include the agenda.

3. Council meetings are valid with the presence of at least the majority of its members, including the Council President or their representative.

4. The Council's decisions are made by a majority vote of its members, and in the event of a tie, the side that the meeting President votes with prevails. The Council may also issue its decisions by circulation, according to a regulation it establishes to govern this.

5. No member of the Council may abstain from voting, nor may they delegate another member to vote on their behalf in their absence.

6. The Council's discussions and decisions are recorded in minutes signed by the meeting President and the attending members, and any member who objects to a decision may record their objection with justification in the minutes.

7. The Council may invite individuals to attend its meetings for assistance without granting them the right to vote.

The institution shall have a Chief Executive Officer appointed and dismissed by a Decision from the Council based on a nomination from its Chairman. The Decision shall specify his salary and other financial benefits, and he shall be responsible for managing the affairs of the institution. His responsibilities are concentrated within the limits set forth by the regulations and bylaws issued accordingly, and what is determined by the Council. He shall specifically have the authority to carry out the following tasks:

• 1. Prepare policies related to the institution's activities, and the necessary executive plans and programs for their implementation, and submit them to the Council, and follow up on their implementation after approval.

• 2. Supervise the workflow in the institution through the approved regulations, plans, and executive programs.

• 3. Propose the organizational structure of the institution.

• 4. Oversee the preparation of administrative and financial regulations, and other internal regulations necessary for its operations; in preparation for submission to the Council.

• 5. Oversee the preparation of procedures, rules, and standards related to the institution's work, activities, and projects; in preparation for submission to the Council.

• 6. Appoint the institution's staff, in accordance with the regulations governing that, and supervise them.

• 7. Disburse from the institution's budget, and take all financial actions in accordance with the regulations, within the limits of the powers delegated to him by the Council.

• 8. Sign agreements, protocols, and contracts, after the Council's approval, and in accordance with the applicable legal procedures.

• 9. Contract for the execution of works, services, and others, within the limits of the powers delegated to him by the Council. 

• 10. Oversee the preparation of the institution's annual report, its budget draft, and its final accounts; in preparation for presenting them to the Council.

• 11. Issue the necessary Decisions to implement the provisions contained in the regulations and bylaws issued accordingly, according to the powers granted to him.

• 12. Follow up on the implementation of Decisions issued by the Council.

• 13. Submit periodic reports to the Council on the progress of work in the institution, its achievements, and activities.

• 14. Represent the institution before the Judiciary and at government agencies, institutions, and other relevant bodies, as well as other entities inside and outside the Kingdom. He may delegate others in this regard.

• 15. Any other authority assigned to him by the Council.

The Chief Executive Officer may delegate some of his authorities to whomever he sees fit among the institution's staff.

The employees of the institution are subject to the provisions of the Labor Law and the Social Insurance Law.

1. The resources of the institution consist of the following:

•  A- What is allocated to it in the state’s general Budget.

• B- The financial compensation it receives in return for the services and works it provides.

• C- What the Council accepts in terms of gifts, aids, grants, bequests, donations, and endowments.

• D- The returns on its investments.

• E- Any other resource approved by the Council that does not violate the regulations and instructions.

2. All revenues of the institution shall be deposited in the current account of the Ministry of Finance at the Saudi Arabian Monetary Authority.

3. The institution shall open an account for itself at the Saudi Arabian Monetary Authority, and it may open other accounts at any of the banks licensed to operate in the Kingdom. Withdrawals from these accounts shall be made according to the institution's Budget.