1.  The terms and expressions used herein shall have the meanings assigned thereto in Article (1) of Bankruptcy Law, issued by virtue of the Royal Decree No. (M/50), dated 28/05/1439 A.H, and Article (1) of The Bankruptcy Law and its Implementing Regulations, issued by virtue of the Council of Ministers' Resolution No. (622), dated 24/12/1439 A.H, unless other specific definitions therefor are contained herein.

2.  The licensee, wherever mentioned herein, shall mean the officeholder or the expert who has a license from the Bankruptcy Commission.​

Without prejudice to the provisions provided in Article (51) and Article (54) of the regulations herein, the officeholder and expert's works provided for in the Law and Regulations, shall only be practiced after obtaining a license according to the provisions of the rules herein.​​

1. The following are conditions to license a natural person to practice the officeholder's work:

• a. Must be Saudi.

• b. Must be fully competent.

• c. Must be of good conduct and has no convictions for any offense against honor or breach of trust, unless he has been exonerated.

• d. Upon submission of the application, he must have a license to practice any of the following in Saudi Arabia:

  • 1. Accounting.

  • 2. Law.

  • 3. Any other related field, as determined by the Bankruptcy Commission.

• e. Must not be suspended from practicing any of the professions provided for under paragraph (1/H) of this article, whether upon the submission of the application or during the past year.

• f. Must have at least five years of field experience, as well as at least one year of experience after getting the license.

• g. Must meet the professional qualification required by the Bankruptcy Commission.

• h. Must pay the license fees.

2.The following are conditions to license a natural person to practice the expert's work:

• a. Must meet the conditions prescribed in section (a), (b), (c), and (h), Paragraph (1) in the Article herein.

• b. Upon submission of the application, he must have a valid license in Saudi Arabia to practice his profession.

• c. Must not be suspended from practicing his profession, whether upon submitting the license application or during past year thereof.

• d. Must meet the professional qualification required by the Bankruptcy Commission.

• e. Must have at least five years of field experience, as well as one year of experience after getting the license.​

The license period shall be three years; renewable for similar periods, in accordance with the provisions in Article (8) of the rules herein.

1. The license application should be completed and submitted through the Bankruptcy Commission's website, in accordance with the specified format. Any incomplete application will be deemed null and void.

2. The Bankruptcy Commission may take any additional actions to verify the license conditions, by demanding additional information or inviting the applicant to the Commission's headquarters to answer inquiries from the Commission. ​

The Bankruptcy Commission shall take no more than sixty days after the submission date of the complete license application to decide whether to approve or reject the application, with the reasons thereof. In all cases, the applicant must be notified about the Commission's decision.​​