Part 6
Deposits in Trusts & Securities

Article (29)

The deposits in trust are those sums received or deducted as deposit in favor of their beneficiaries or to cover a certain activity. The collected funds stated in Article (30) of this By-law shall be credited by the Department in favor of third parties in the account of deposits in trust.


Article (30)

The deposits in trust are divided into the following types:

1. Allocated Deposits in Trust:
   They are those assigned for disbursement on a certain activity or a specific purpose, provided that the unused balance shall be transferred, after completing the activity or achieving the purpose, to the General Revenues Account.

2. Salary Deductions Deposits in Trust:
   They are those which are deducted in accordance with laws and regulations that arrange deductions from the issue vouchers provided that they should be transferred to the relevant competent parties during the first half of the following month in order to receive or collect them.

3. Deposits in Trust of Departments, Public and Private Institutions and Individuals:
   They are those which are deducted, collected or retained for those who have the right thereto as a result of regulations, agreements or obligations.

4. Other Deposits in Trust:
   They are those which include the sums received from anonymous sources, surplus sums received from different parties or amounts of financial transfers that have not been forwarded for payment within their specific time. These deposits in trust shall be paid to the beneficiaries thereof, but if they have not been claimed after the lapse of (5) years from the date of registration, they shall be transferred to the General Revenues Account.

Article (31)

Notwithstanding the provisions of paragraph "d" of Article (30) of this By-law, the Minister may refund the received deposit in trust by the General Revenues Account to the beneficiaries thereof if there are reasonable justifications thereto.

Article (32)

The securities are the sums paid by individuals to the Department in certain cases to ensure the Treasury's rights towards third parties. The collection and payment of same shall be subject to the legal provisions pertaining thereto.