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Deal by Design
Welcome to this edition of Law Update, focusing on the evolving M&A landscape across the MENA region. With deal activity and value continuing to grow, the region is seeing increased investor interest alongside a changing regulatory environment.
This edition explores key legal and market developments affecting M&A transactions, including regulatory reforms, foreign investment, governance, due diligence and deal structuring across the region.
Salah Deeb
Saudi Arabia has recently announced new implementing regulations for web publication (the “Regulations”) which will come into force after one month from publication in the official gazette. The Regulation applies to owners (whether Saudi nationals or residents of Saudi Arabia) of web publication means operating from Saudi Arabia and foreign websites that are hosted in Saudi Arabia.
The Regulations regulate 13 types of web publications which are as follows:
Types 1-6 are subject to license and types 7-12 along with type 13, are subject to registration with the Ministry of Information and Culture. An applicant for a license must; (a) be a Saudi; (b) be no less than 20 years of age; (c) have high school certificate; (d) hold an appropriate license for the same activity; (e) be of good behavior and conduct; (f) have a specific mail address; (g) specify email address; (h) employ editors in chief who have been approved by the Ministry of Information and Culture; (i) have a domain name. An applicant for registration must; (a) be a Saudi or resident of Saudi Arabia ;(b ) be of good behavior and conduct; (c) have a specific mail address; (d) specify email address; (e) have an operational website.
The Regulations specify who is liable for the content published on the web. For example, the editor in chief or his deputy and the author are responsible for the content. Furthermore, the licensee must specify who is responsible for content, otherwise he will be liable. The owner of a personal website is responsible for the content.
A person found to be acting in violation of the Regulations is subject to one of the following penalties:
The Regulations provide a grace period of six months from publication in the official gazette for owners to register and obtain a license.
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