Sports bodies are established by natural or legal persons for an unlimited period, for the purpose of providing sports services and other related services, and do not primarily aim to achieve profit. The legislator in the Kuwaiti Sports Law regulated how to dispose of the funds of Kuwaiti sports bodies.
The following entities fall under the name of sports bodies: sports clubs, including comprehensive and specialized sports clubs, national sports federations, the Kuwait Olympic Committee, and the Kuwaiti Paralympic Committee.
The purposes for which the funds of sports organizations are spent
The Kuwaiti Sports Law requires sports bodies to spend their money in achieving their purposes, and they may use the surplus revenues to secure a fixed resource for them, provided that this does not affect the conduct of their sports activities.
Acquisition or possession of sports authority funds
The legislator in the Kuwaiti Sports Law prohibits the current members of the sports bodies or any member who leaves the sports body to individually request the possession or ownership of funds or property owned by the sports bodies. The legislator also prohibited sports organizations from engaging in any betting or financial speculation, or from intentionally performing any actions that result in financial loss or damage to them.
Depositing sports funds cash in banks
Sports organizations must deposit their cash funds in their name in one or more accounts with banks operating in the State of Kuwait. It must also notify the General Sports Authority of the name of the bank or banks in which the deposit was made, and of every change that occurs to it and its reasons within a week from the date of its occurrence.
Government support and subsidies for sports bodies
Government grants and subsidies
Granting support, government announcements, and exploitation of state-owned sports lands and facilities to sports bodies shall be within the framework of an agreement between the General Sports Authority and the concerned sports authority, in light of the controls and decisions issued by the authority’s board of directors to provide grants.
Oversight by the General Sports Authority on government support and subsidies
The Kuwaiti Sports Law grants the Public Authority for Sports the right to review aspects of disbursement of support and government subsidies provided to sports authorities, in order to ensure that the funds of support or subsidies provided have been spent in the purposes, aspects, and areas designated for them and agreed upon, in accordance with the controls specified by the General Sports Authority in this matter.
The scope of the General Sports Authority’s control over government subsidies and subsidies
The financial review carried out by the General Authority for Sports on the funds of sports bodies shall be within the scope and limits of the support and subsidy provided. Sports bodies must be responsible to the General Sports Authority for the use of specific support and subsidies provided by the government only, and government support and subsidies provided to sports bodies are considered public funds.
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