The words and phrases contained in this Regulation shall have the meanings set forth opposite each of them in Article (One) of the Law of the General Authority for Awqaf, issued by Royal Decree No. (M/11) dated 26/2/1437. The following words and phrases, wherever they appear in the Regulation, shall have the meanings set forth opposite each of them:
The Regulation aims to achieve the following:
This Regulation shall apply to the following:
Any endowment, or "testamentary bequest establishing an endowment," whose designated beneficiary has become inoperative and to which one of the following cases applies shall be deemed an endowment of unknown status, or equivalent thereto:
An endowment shall be deemed non-productive, or treated as non-productive, if it is an endowment or a “bequest creating an endowment” having an administrator and falls under either of the following two circumstances:
1- The Authority identifies unknown and inactive endowments through the means granted to it under the relevant laws, including:
2- The Authority shall cooperate with government and other entities in finding ways to address unknown and inactive endowments.
3- The Authority shall organize cultural and awareness-raising events concerning the importance of reporting unknown and inactive endowments and the contribution of such reporting to addressing and reviving them and ensuring their sustainability, in accordance with the applicable statutory procedures.
1- The Authority identifies unknown and inactive endowments through the means granted to it under the relevant laws, including:
2- The Authority shall cooperate with government and other entities in finding ways to address unknown and inactive endowments.
3- The Authority shall organize cultural and awareness-raising events concerning the importance of reporting unknown and inactive endowments, the contribution of such reporting to addressing and reviving them, and ensuring their sustainability, in accordance with the applicable statutory procedures.
1- The following conditions must be met for a report concerning an unknown endowment to be accepted:
2- The Authority shall have discretion to determine the period during which the unknown endowment has been without trusteeship, or the period of its inactivity that affects its classification as an unknown endowment.