In this Statute, the following words and phrases shall have the meanings assigned thereto:
Statute: Statute of the National Center for Privatization.
NCP: National Center for Privatization.
Board: NCP’s board of directors.
Chairman: Board’s chairman.

• Under this Statute, a center named the National Center for Privatization shall be established. The NCP shall report to the Council of Economic and Development Affairs and shall have an independent legal personality and financial and administrative independence. It shall be headquartered in the city of Riyadh.

• The NCP shall operate according to commercial principles and standards. It shall have the powers necessary to carry out its duties in accordance with its financial and administrative regulations.

The NCP aims to contribute to the realization of developmental goals of sectors targeted for privatization in accordance with relevant plans, programs, and decisions, and in a manner that ensures coordination of efforts, flexibility, efficiency, and effectiveness in the privatization process.
For the application of this Statute, public-private partnership projects shall be deemed privatized.

The center shall have a Board of Directors chaired by the President of the Privatization Program Committee, with the members of the program committee as members. The Chief Executive Officer of the center shall serve as the Secretary of the Board.

1- The Council shall meet at least four times a year at the invitation of the President, or whenever deemed necessary by the President, or if requested by at least two-thirds of its members. The invitation must be sent in writing at least seven days prior to the meeting, and it must include the agenda. The President of the Council may delegate any member he sees fit to preside over the meetings in his absence.
2- The meetings of the Council shall be held in the presence of the majority of the members, including the President or his delegate from the representatives of the government entities.
3- The decisions of the Council shall be issued by a majority of the votes of its members, and in the event of a tie, the side that the President of the meeting votes for shall prevail.
4- Meetings may be held, and votes may be cast remotely, using technological means. Decisions may also be made by circulation among the members, and the Council shall determine the provisions related to this matter.
5- The deliberations and decisions of the Council shall be recorded in minutes signed by the President of the meeting and the attending members. A member who objects to any decision may record his objection with justification in the minutes.
6- The President may invite any representatives from government entities not represented in the Council, or experts, or specialists, to attend the meetings of the Council, without having the right to vote.
7- A member shall not disclose any secrets related to the work and activities of the center that he has become aware of due to his membership in the Council.

The Council is the authority that dominates the affairs of the center, its administration, and the management of its matters. It has all the powers necessary to achieve its purposes, and it specifically has the following:

1- Approval of the organizational structure of the center
2- Approval of the financial and administrative regulations of the center 
3- Approval of the operational procedures of the center
4- Approval of the financial compensation for the services provided by the center
5- Approval of the investment of the center's funds in a manner that achieves its objectives, in accordance with the applicable regulations and instructions.
6- Recommendation to form supervisory and guiding committees to follow up on related projects and define the tasks assigned to them, and to report on that to complete what is necessary.
7- Review of the periodic reports submitted regarding the progress of work in the center and making the necessary decisions regarding them.
8- Approval of the conclusion of agreements and contracts
9- Appointment of an external auditor and an internal financial controller
10- Acceptance of gifts, donations, bequests, and endowments, in accordance with the organized procedures for that.
11- Formation of permanent and temporary committees from its members or others, and assigning them tasks or some of its competencies as it sees fit. The decision to form each committee specifies its chairperson, members, and competencies, and it may seek assistance from whomever it deems necessary to perform the assigned tasks.

The Council may delegate any of these competencies to its chairperson or to whomever it sees fit among the officials in the center, as required by the workflow therein.

The center has the right to own and establish companies, with the approval of the Council.

The center shall have a Chief Executive Officer appointed by a decision of the Council, which shall specify his salary and other financial benefits. He shall be the executive responsible for managing the center, and his responsibilities shall be limited to what is stipulated in the regulations and what the Council decides. In particular, he shall have the authority to carry out the following duties:

1- Proposing the organizational structure of the center, along with its financial and administrative regulations, presenting them to the Council, and supervising their implementation after approval.
2- Issuing orders for the center's expenditures in accordance with its financial regulations.
3- Appointing employees at the center and supervising them in accordance with the regulations and instructions set forth.
4- Contracting with experts and consultants from within and outside the country within the scope of the center's purposes, and according to what is determined by the regulations.
5- Representing the center before the judiciary, government agencies, institutions, and other relevant bodies, as well as other entities inside and outside the Kingdom.
6- Signing agreements and contracts after obtaining the Council's approval.
7- Following up on the implementation of the decisions issued by the Council.
8- Providing periodic reports to the Council regarding the center's activities, achievements, and initiatives.
9- Submitting recommendations to the Council regarding matters within his jurisdiction.

The Chief Executive Officer of the center may delegate some of his powers and responsibilities to other officials of the center.

• 1. The NCP’s financial resources shall be as follows:

  • a) Annual funds allocated by the government.

  • b) Fees for services rendered by the NCP.

  • c) Gifts, donations, bequests, and endowments accepted by the Board in accordance with relevant provisions.

  • d) Returns on its investments.

  • e) A percentage from the sale of assets in the privatization programs as determined by the Board.

  • f) Other revenues determined by the Board in accordance with the law.

• 2. The NCP shall retain its revenues for disbursement on its various activities in accordance with its financial regulations. Such funds shall be deposited in an independent account opened for this purpose with the Saudi Central Bank and may open other accounts with any of the banks licensed to operate in the Kingdom.