First
The Committee for Real Estate Contributions shall take the necessary steps and procedures for its work as follows:
1- Summoning and questioning the owners of real estate contributions and the accounting offices supervising the progress of the real estate contributions to ascertain the status of the contribution.
2- If the owner of the real estate contribution does not respond to the committee within thirty days, His Excellency the Chairman of the Committee shall address His Royal Highness the Minister of Interior to include the owner on the list of prohibited individuals (travel ban) and the list of wanted individuals (service suspension). If there is still no response after two months, His Royal Highness the Minister of Interior shall be addressed to include the owner on the arrest list and bring him before the committee in accordance with the applicable procedures.
3- Writing to the competent authority to annotate the record of the real estate contribution deeds that require annotation to stop any actions regarding them, provided that the request includes the type of violation and its legal document, and the suspension shall not be lifted except by a letter from His Excellency the Chairman of the Committee.
4- The committee, if it deems it necessary to impose provisional seizure on the assets of the owner of the fixed or movable contribution, may request from the competent authority to seize the fixed assets and accounts of the owner of the contribution, including securities, investment portfolios, and funds that have been transferred from his accounts to other accounts until the matter of the contribution is resolved.
5- The committee shall take all legal measures that contribute to preserving the rights of the contributors according to their current value, either by holding a public auction, whether by direct sale of the contribution according to its current value, or by holding a public auction, or waiting for the approval of the contribution plan, or continuing to carry out development works according to the status of each contribution, in accordance with what the committee deems to be in the interest of the contributors. If the committee decides to sell, it shall refer the complete transaction papers to the competent court to finalize the sale procedures, ensuring that it has an urgent status.
6- Referring anyone who has been proven to the committee to be fraudulent or misusing the funds of the contribution to the competent court along with the public prosecutor for punishment and to demand the return of the contributors' rights.
7- The committee may review the originals of any transaction filed in the courts concerning real estate contributions from contributors or others in accordance with the procedures stipulated in Article (11/4) of the Civil Procedures Law Regulation.
8- Determining the fees and expenses of those whom the committee seeks assistance from, whether from accounting, legal, or engineering offices, provided that they do not exceed (5%) of the total proceeds from the sale of the contribution.
9- Any accounting, legal, or engineering office assigned to a contribution case must submit to the committee a preliminary report on the contribution, including its financial position, the number of contributors, the total capital of the contribution, and the feasibility of immediate liquidation of the contribution, along with the office's observations regarding the contribution.
10- The committee shall announce its desire to assign the liquidation of any of the real estate contributions to accredited accounting, legal, and engineering offices.