Regulation Of The Minister Of Finance Number 239/fmd. 08/2012 Year 2012

Original Language Title: Peraturan Menteri Keuangan Nomor 239/PMK.08/2012 Tahun 2012

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Read the untranslated law here: http://peraturan.go.id/inc/view/11e44c515cfecb108ec7313233353036.html

BN 1344-.doc 2012 REPUBLIC of INDONESIA No. 1338, 2012 the MINISTRY of finance. Securities. Islamic Countries. Direct Placement. Publishing. REGULATION of the MINISTER of FINANCE of the REPUBLIC of INDONESIA NUMBER 239/FMD. 08/2012 ABOUT PUBLISHING and SELLING SECURITIES SHARIAH STATE by WAY of a DIRECT PLACEMENT (PRIVATE PLACEMENT) and the GRACE of GOD ALMIGHTY the MINISTER of FINANCE of the REPUBLIC of INDONESIA, Considering: a. that in order to implement the provisions of article 18 and article 24 of the Act number 19 of 2008 concerning Shariah-compliant Securities, have been assigned the State regulation of the Minister of finance Number 75/FMD. 08/2009 concerning the issuance and sale of Securities Shariah State by way of a direct Placement (private placement); b. that in its development has set presidential regulation Number 54 in 2010 about Government procurement of goods/services as it has several times changed the last presidential regulation Number 70 in 2012, which also implicates its settings on the settings regarding the procurement of goods/services in order of publishing and selling Securities Shariah State by way of a direct placement (private placement); c. that in order to comply with the provisions referred to in subparagraph b, the need to reorganize the publication and sales Letter www.djpp.depkumham.go.id 2012, no. 1338 2 Valuable State Sharia by way of a direct placement (private placement) in the primary market in the country; d. that based on considerations as referred to in letter a, letter b, letter c, and the need to set a regulation of the Minister of finance regarding the issuance of Islamic Securities and the sale of the State by means of a direct Placement (Private Placement); Remember: 1. Act No. 19 of 2008 concerning Shariah-compliant Securities State (State Gazette of the Republic of Indonesia number 70 in 2008, an additional Sheet of the Republic of Indonesia Number 4852); 2. Presidential regulation Number 54 in 2010 about Government procurement of goods/services as amended by presidential regulation Number 70 in 2012; Decide: Define: REGULATION Of The MINISTER Of FINANCE REGARDING The ISSUANCE Of ISLAMIC SECURITIES And The SALE Of The STATE By MEANS Of A DIRECT PLACEMENT (PRIVATE PLACEMENT). Article 1 In regulation of the Minister, that is: 1. the Shariah State Securities, hereinafter abbreviated SBSN, or can be called Sukuk, the Country is the State securities issued based on sharia principles, as evidence against the inclusion of part of the assets of top SBSN, both in rupiah or foreign currency. 2. SBSN short-term or may be referred to the letter of the State Treasury of the sharia is the SBSN timed up to 12 (twelve) months with the payment of rewards in the form of coupons and/or discount. 3. Long-term SBSN is SBSN who timed more than 12 (twelve) months with the payment of rewards in the form of coupons and/or discount. 4. Publisher SBSN is legal entity established under the provisions of the law on Securities Shariah State to carry out the publication of SBSN. www.djpp.depkumham.go.id 2012, no. 1344 3 5. The primary market is bidding and selling activities SBSN for the first time. 6. Placement of direct hereinafter referred to as the Private Placement is a publishing and sales activities SBSN Government conducted by the parties, with the terms and conditions of SBSN according to agreement. 7. the Minister is the Minister of Finance of the Republic of Indonesia. 8. Parties are those individual Indonesian citizens or foreign citizens, or corporations, joint ventures, associations, or groups who organized, wherever they are domiciled or residing both inside and outside the country, the Bank of Indonesia, or Lps. 9. the participants of the Auction is the participant of the auction as set forth in the regulation of the Minister of finance regarding the issuance and sale of SBSN in primary market within the country by way of auction. 10. Prospective Dealer SBSN Panel in the primary market international, hereinafter referred to as the Panel is a Panel as set forth in the regulation of the Minister of finance regarding the issuance and sale of SBSN in the primary market. 11. The Nominal value is the value of SBSN stated in the terms and conditions of SBSN published. 12. Rewards are payments that can be rented, for results or margin, or other forms of payment in accordance with contract publishing SBSN, granted to holders of up to the expiry of the period of SBSN SBSN. 13. SBSN MERCHANTABILITY is SBSN tradable in the secondary market prior to maturity. 14. SBSN which cannot be traded is SBSN which cannot be traded on the secondary market. 15. The trustee is a party which represents SBSN holder in accordance with the interests that are exchanged. 16. Setelmen is the completion of a transaction consisting of SBSN Setelmen funds and Setelmen ownership SBSN. 17. Labor Day is the day of the payment system operations conducted by the Bank Indonesia or clearing on the designated clearing house. 18. the Procurement Committee is a Committee or a working group pengadaaan service unit formed to carry out the selection of prospective Agents and/or prospective legal consultants. www.djpp.depkumham.go.id 2012, no. 1338 4 19. Legal consultants were appointed to assist the Government in the framework of the legal aspects related to publishing and selling SBSN. CHAPTER III CONDITIONS and TERMS OF PRIVATE PLACEMENT of article 2 (1) publication of SBSN can be implemented: a. directly by the Government; or b. through SBSN publishing company. (2) in the event of the issuance of SBSN conducted as referred to in paragraph (1) letter a, the preparation and implementation of publishing SBSN implemented by work units the Treasury Department basic tasks and functions organized management of SBSN. (3) in the event of the issuance of SBSN conducted as referred to in paragraph (1) letter b, preparation and execution of the publishing company's Publisher exercised by SBSN SBSN assisted by work units of the Ministry of Finance the basic tasks and functions organized management of SBSN. (4) in carrying out the activities of publishing work, unit SBSN as referred to in paragraph (2) and paragraph (3) coordinate with the units of work or other related parties. Article 3 the issuance and sale of SBSN by way of Private Placement can be done in rupiah or foreign currency. Article 4 (1) the sale of SBSN by way of Private Placement in rupiah can be carried out: a. directly by the Government; or b. through Auction Participants; (2) sale of SBSN by way of Private Placement in foreign exchange can be carried out: a. directly by the Government; b. through the members of the Panel; or c. the participant through an auction. www.djpp.depkumham.go.id 2012, no. 1338.5 (3) sale of SBSN through members of the Panel referred to in paragraph (2) letter b done in terms of Private Placement in foreign currency in the international market. (4) sale of SBSN through Auction Participants as referred to in paragraph (2) Letter c is done in terms of Private Placement in foreign currencies in the domestic market. Article 5 (1) any party may buy SBSN by way of Private Placement both directly and through the participants of the Auction or a member of the Panel. (2) the party is an individual person can only be bought through the auction Participants SBSN or members of the Panel. Article 6 (1) Bank Indonesia can only buy SBSN short term by way of Private Placement for and on behalf of myself. (2) Lps can buy long term nor SBSN SBSN short term by way of Private Placement for and on behalf of myself. (3) Parties than Bank Indonesia, Lps and individual persons can buy long term nor SBSN SBSN short term by way of Private Placement for and on behalf of myself. (4) the party who is an individual person can only buy SBSN long term by way of Private Placement for and on behalf of myself article 7 Bidder or a member of the Panel referred to in article 5 can buy long term nor SBSN SBSN short term by way of Private Placement for and on behalf of yourself or for and on behalf of the parties. Article 8 (1) purchase Offer by way of Private SBSN Placementdalam rupiah at minimum of Rp RP 250.000.000.000 (two hundred and fifty billion dollars) for a single series. (2) purchase Offer SBSN by way of Private Placementdalam asingminimal currency equivalent of USD100,000, 000.00 (one hundred million US dollars) for a single series. www.djpp.depkumham.go.id


2012, no. 1338 6 CHAPTER III LEGAL CONSULTANT DESIGNATION of article 9 (1) in the framework of the publication and sale of SBSN by way of Private Placement, Legal Consultant designation can be made. (2) in terms of required legal consultants as referred to in paragraph (1), may use a legal consultant has been appointed to the issuance and sale of SBSN on fiscal year running. (3) in the event that there is no legal consultants appointed for the issuance and sale of SBSN in budget goes, the designation of legal consultants as mentioned in subsection (1) is done through the selection process. Article 10 (1) legal consultants as referred to in article 9 paragraph (3) are defined through the process of selection by Committee of procurement. (2) the selection process referred to in subsection (1) is done through the following stages: a. announcement; b. registration and retrieval of procurement documents; c. granting clarification (aanwijzing); d. incorporation Document Deals; e. opening the bidding Document; f. evaluation of the Bidding Document; g. the electoral Legal Consultant service pengadaaan participant to follow the stages of the technical clarifications (beauty contest); h. time-against the evaluation results Document Deals; i. technical clarifications (beauty contest); j. technical clarification of results ranking (beauty contest); k. negotiation fee; b. the determination of the winner; m. winners announced; n.-period; and o. Disclaimer appeal (if necessary). (3) Prospective legal consultants who get ranked first of the results of technical clarifications (beauty contest), will get the first opportunity for negotiating fee. www.djpp.depkumham.go.id 2012, no. 1338 7 (4) in the event the deal does happen in negotiations with prospective legal consultant fee referred to in subsection (3), it will do the negotiating fee to potential legal consultant the next rank up is happening deal. Article 11 (1) designation of legal consultants as referred to in article 9 is based on the determination of the winner selection as stipulated in article 10 paragraph (2) letter l. (2) the designation of legal consultants as referred to in paragraph (1) followed up with a work agreement. (3) the designation of legal consultants and the signing of the agreement referred to in subsection (1) and paragraph (2) was performed by the Official manufacturer of the commitment. CHAPTER IV PROCEDURES for the ISSUANCE and SALE of SBSN by WAY of PRIVATE PLACEMENT of article 12 (1) the purchase of SBSN by way of Private Placement done by submitting the purchase offer to the Minister in particular the Director General of the debt management with copy to the Director of Islamic Financing, according to the format as set out in the annex are an integral part of the regulation of the Minister of finance. (2) purchase Offer SBSN by way of Private Placement referred to in subsection (1) include at least: a. Nominal value; b. types of currency; c. form of SBSN i.e. SBSN which can be traded or tradable SBSN; d. an indication of maturity period; e. the price or yield; and f. indication of rewards. Article 13 (1) purchase Offer SBSN as stipulated in article 12, followed up by the Directorate General of debt management in particular the Shariah-compliant Financing Directorate in writing within 10 (ten) working days since the receipt of the letter of offer of purchase. www.djpp.depkumham.go.id 2012, no. 1338 8 (2) follow-up as mentioned in subsection (1) may include a discussion of the terms and conditions that will be published or SBSN form Disclaimer of bidding purchase SBSN. (3) reject the purchase offer SBSN referred to in subsection (2) may be made among others with consideration: a. do not satisfy the provisions as referred to article 6 and article 8; b. the STATE BUDGET financing needs be had; and/or; c. financial market conditions. (4) the refusal referred to in subsection (3) is delivered via mail Director General of debt management on behalf of the Minister. Article 14 (1) in terms of buyout SBSN done directly, the discussion referred to in Article 13 paragraph (2) was conducted by the Directorate General of debt management Directorate in particular the financing of joint Islamic party bid purchase. (2) in terms of buyout deals SBSN done through Auction or through a Participant member of the discussion Panel, as stipulated in article 13 paragraph (2) was conducted by the Directorate General of debt management Directorate in particular the Sharia Financing joint Bidder or a member of the Panel concerned. (3) the discussion referred to in subsection (1) and paragraph (2) includes provisions and points persyaratanSBSN to be published, at least include the following: a. Nominal value; b. types of currency; c. the form and type of SBSN to be published; d. period of time; e. the price or yield; f. level of Remuneration SBSN; g. payment mechanisms and timing of rewards and/or Nominal value; and h. the time and mechanisms of implementation of Setelmen. Article 15 (1) the results of the discussion referred to in Article 13 paragraph (2) be received all or in part, or rejecting the entire bidding purchase SBSN, poured in the news events discussion. www.djpp.depkumham.go.id 2012, no. 1338 9 (2) in the event that the results of the deliberations of the form receives all or part of the purchase offer, the results of the discussion in question SBSN poured in the deal. (3) Documents the agreement referred to in paragraph (2) contains at least: a. Nominal value; b. types of currency; c. the form and type of SBSN to be published; d. the price or yield; e. the level of Rewards SBSN; f. period; g. payment mechanisms and timing of rewards and/or Nominal value; and h. the time and mechanisms of implementation of Setelmen. Article 16 (1) the Director General of debt management on behalf of the Minister, no later than 2 (two) working days before the date of Setelmen: a. establish the results of the deal; b. SBSN menandatanganiketentuan and requirements. (2) in the event that the Director General of debt management was unable to temporary, interim officials who are appointed to perform the duties of the Director General of debt management on behalf of the Minister, no later than 2 (two) working days before the date of Setelmen: a. establish the results of the deal; b. menandatanganiketentuan and persyaratanSBSN. Chapter V PUBLICATION and SALE OF DOCUMENTS article 17 required documents in publishing and selling SBSN by way of Private Placement among other things: a. the asset transaction document SBSN; b. terms and conditions SBSN; c. the fatwas and statements of conformity SBSN with Sharia principles; and d. the Treaty of perwaliamanatan, if needed. www.djpp.depkumham.go.id 2012, no. 1338 10 Article 18 (1) Asset transaction Document SBSN as stipulated in article 17 a letter drafted by type of contract SBSN published. (2) Contract SBSN can be used in the issuance of SBSN Ijarah Contract, among others, Mudarabah Contract, Contract, Contract Musyarakah Istishna ', a Contract based on a combination of two or more contract and other Contract all not contrary to sharia principles. Article 19 (1) in terms of SBSN published directly by Government, transaction documents SBSN Assets referred to in article 17 a letter, signed by Director General of debt management and Trustees appointed. (2) in the event of SBSN published through a Publisher document, Asset transactions SBSN SBSN as stipulated in article 17 a letter, signed by Director General of debt management and the Board of Directors of the company Issuer SBSN. Article 20 (1) of the Covenant perwaliamanatan referred to in article 17 the letter d is required if: a. the publication SBSN made directly by the Government; or b. SBSN Publishing done through publishing company SBSN and appointed others to help carry out the function of the trustee. (2) in the event of SBSN published directly by the Government, the Treaty of perwaliamanatan was signed by Director General of debt management and Trustees appointed. (3) in the event of SBSN published through a Publisher SBSN as referred to in paragraph (1) letter b, the perwaliamanatan agreement was signed by Director General of debt management, the Board of Directors of the company and other parties SBSN Publisher designated to help carry out the function of the trustee. Article 9 appointment of a Trustee as stipulated in article 19 paragraph (1) and other parties to help implement the function as the trustee referred to in article 19 paragraph (1) letter b done by the Director General of the debt management on behalf of the Minister. www.djpp.depkumham.go.id


2012, no. 1338 11 CHAPTER VI SETELMEN, ACCOUNTING and SALES RESULTS announcement article 22 Setelmen SBSN Sales by way of a Private Placement is conducted in accordance with the agreement that was poured in the document the agreement as stipulated in article 15 paragraph (2). Article 23 (1) implementation of Setelmen sales SBSN by way of Private Placement in rupiah following the provisions set by Bank Indonesia. (2) implementation of Setelmen sales SBSN by way of Private Placement in foreign currency following the provisions used by the clearing house and the designated setelmen. Article 24 (1) in the event, the participants of the Auction or a member of the Panel that approved the purchase offer, do not hand over the funds up to the deadline date of Setelmen, the sale of SBSN by way of Private Placement was declared null and void. (2) in case of the Bidder, a member of the Panel or the party that is not a financial institution carrying out the related obligations execution Setelmen debt management Directorate General, in particular the Directorate of Islamic Financing reported the tort to the authority in the field of capital market and/or authority in the field of banking. Article 25 the entire SBSN sales results by way of Private Placement, either published directly by Governments or through publishing company SBSN constitutes acceptance of the State. Article 26 (1) the Director General of debt management announces sales results SBSN by way of Private Placement to the public at the latest 1 (one) working day setelahtanggal implementation of the Setelmen. (2) the announcement referred to in subsection (1) at least include the following: a. Nominal value; b. types of currency; c. SBSN series; d. the level of Remuneration; www.djpp.depkumham.go.id 2012, no. 1344 12 e. price or yield; and f. the due date. CHAPTER VII CHARGES article 27 PUBLISHING All expenses incurred in the framework of the implementation of the publication and sale of SBSN by way of Private Placement done either directly by the Government or through the Publisher SBSN charged to the budget of the State Expenditures and Revenues. CHAPTER VIII PROVISIONS COVER Article 28 at the time of this Ministerial Regulation entered into force, the regulation of the Minister of finance Number 75/FMD. 08/2009 concerning the issuance and sale of SBSN by way of a direct Placement (Private Placement), repealed and declared inapplicable. Article 29 this Ministerial Regulation comes into force on the date of promulgation. In order to make everyone aware of it, ordered the enactment of this Ministerial Regulation with its placement in the news of the Republic of Indonesia Established in Jakarta on 26 December 2012 the INDONESIAN FINANCE MINISTER AGUS MARTOWARDOJO D.W., Enacted in Jakarta on 26 December 2012 the MINISTER of LAW and HUMAN RIGHTS REPUBLIC of INDONESIA, AMIR SYAMSUDDIN www.djpp.depkumham.go.id