Regulation Of The Minister Of Finance The Number 99 In 2011

Original Language Title: Peraturan Menteri Keuangan Nomor 99 Tahun 2011

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BN 391-2011 fnHeader (); The text is not in the original format.
Back NEWS REPUBLIC of INDONESIA No. 391, 2011 REGULATIONS the MINISTER of FINANCE of the REPUBLIC of INDONESIA NUMBER 99/FMD. 010/2011 ABOUT the CHANGES to the REGULATION of the MINISTER of FINANCE NUMBER 222/FMD. 010/2008 ABOUT the CREDIT GUARANTEE COMPANIES and RE-ASSURANCE COMPANY CREDIT with the GRACE of GOD ALMIGHTY the MINISTER of FINANCE of the REPUBLIC of INDONESIA, Considering: a. that for menumbuhkembangkan industry guarantee provides benefits which are able to guarantee services for the community of dynamic , required a more comprehensive regulations and satisfy the principle of caution (prudent);
b. that in order for regulation in the field of assurance is becoming more comprehensive and meets the principle of caution (prudent) referred to in letter a, the need for changes to the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies and re-Assurance Company Credit;
c. that based on considerations as referred to in letter a and letter b, need to establish the regulation of the Minister of finance about the changes to the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies and re-Assurance Company Credit;
Remember: 1. Presidential Regulation number 2 in 2008 about the guaranteeing Institution;
2. Regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies and re-Assurance Company Credit;
Decide: define: REGULATION of the MINISTER of FINANCE ABOUT the CHANGES to the REGULATION of the MINISTER of FINANCE NUMBER 222/FMD. 010/2008 ABOUT the CREDIT GUARANTEE COMPANIES and RE-ASSURANCE COMPANY credit.
Article I a few provisions in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies and re-Assurance Company's credit was changed as follows: 1. The provision of article 1 point 6, Figure 8, Figure 11, Figure 12, Figure 2, Figure 6, Figure 19, Figure 20, Figure 25, figures 27, 28 and 31 figure numbers was changed so that the whole article 1 reads as follows : article 1 In regulation of the Minister of finance it is: 1. the Guarantee Company is a legal entity engaged in business activities with a financial staple perform Underwriting.
2. Credit Guarantee Companies, guarantors of hereinafter referred to, is the Assurance Company business activities anyway do Guarantee credit.
3. the Guarantee Company is a legal entity that is engaged in financial business activities do re-Assurance.
4. Re-Assurance Company of credit, hereinafter referred to as the Guarantor, is the assurance company business activities anyway do re-Assurance credit.
5. the Guarantee is an activity of granting collateral for the fulfillment of the obligations of the recipient's financial credit and/or financing based on sharia principles.
6. The granting of Credit granting activities is the collateral for the fulfillment of financial obligations is assured.
7. Guarantee granting activity is collateral for the fulfillment of obligations of financial Guarantee Companies that have financial obligations fulfillment guarantees Credit recipients and/or financing based on sharia principles.
8. Re-Assurance Credit granting activities is the collateral for the fulfillment of obligations on financial Guarantors who have financial obligations fulfillment guarantees assured.
9. The credit is the provision of money or bills that can be equated with it, based on the approval of an agreement between financial institutions pinjam-meminjam with other parties that require that the borrower to pay off a loan in a given period with the giving of flowers.
10. Financing based on sharia principles, hereinafter called the financing, financing is based on sharia principles given by financial institutions.
11. The productive Effort is an activity to produce goods and/or services that add value and increase revenue for the assured.
12. Gearing Ratio is the limit specified for measuring the ability of Guarantor or Guarantor in conducting Assurance or Guarantee.
13. Financial institutions are banks and financial institutions is not a Bank.
14. the branch office is the Office of the guarantor or Guarantors reproduced directly accountable to the Head Office of the guarantor or Guarantors.
15. The Office of the children's Branch Office is under the branch office that its business activities to help its parent Branch.
16. The recipient of the Guarantee is a financial institution or outside of financial institutions that have provided credit and/or financing to secure.
17. Secure is the party that has gained credit and/or financing from a financial institution or a financial institution outside of guaranteed by guarantors of good individual, business entity, a limited liability company, a business unit of foundations, cooperatives and micro, small and medium enterprises (UMKM).
18. the Guarantee Certificate is evidence of the approval of the Guarantee from the guarantor to the Beneficiary upon the Guarantee obligation is assured.
19. Return Service Assurance, hereinafter abbreviated IJP, is the amount of money received by the Guarantor of the Guaranteed in order Guarantee. business activities
20. Some of the repeated Assurance Services, hereinafter abbreviated to IJPU, is the amount of money received by the Guarantor of the Guarantors in order Guarantee. business activities
21. Claims are claims payment by the recipient of the Guarantee to the Guarantor resulting secured, unable to meet its obligations pursuant to the agreement or to the Guarantor the guarantor of payment demands, which has paid to a recipient's financial liability Assured guarantee.
22. Subrogasi is the transition from the receiver charged rights of guarantee to the Guarantor the guarantee Beneficiary after receive payment claims from the guarantor.
23. Business activities based on sharia principles are the guarantor the guarantor or the business activities of the Reset is done based on sharia principles.
24. The principles of Sharia is based on the principle of teaching or the Islamic law.
25. the Executive Board is a member of the Board of Directors and Board of Commissioners for the guarantor or guarantors of the company the company's Anniversary and a limited liability company or the Board of Directors and the Board of Trustees for the guarantor or Guarantor Re shaped public enterprise and corporate areas supervisory and Executive Board or to the Guarantor or Guarantors Reworked in the form of cooperatives.
26. The National Islamic Council, hereinafter abbreviated DSN, is a Council formed by the Assembly of Indonesia Cleric to deal with matters relating to the activities of Islamic financial institutions.
27. the Shariah Supervisory Board is the Board that recommended by DSN that is placed on the Guarantor or Guarantor Re tasked surveillance of business activities or the guarantor the guarantor Reset to conform with Sharia principles that difatwakan by the DSN.
28. The examination is a series of activities to collect, find, process, and evaluate data and information about the business activities of the Guarantor or Guarantors, which aims to gain confidence over the periodic report truth, compliance with the provisions of laws and regulations in the field of guarantee institutions and ensure that the periodic reports in accordance with the actual state of the company.
29. The examiner is an employee of the Bureau of Finance and Underwriting, capital market Supervisory Agency and the financial institutions or other parties appointed by the Chairman of the Board of Trustees of the capital market and financial institutions.
30. A warrant Examination is a letter issued by the head of financing and Guarantee on behalf of the Chairman of the capital market Supervisory Agency and the financial institutions used by the examiner as the basis to conduct the examination.
31. The notice of Examination is a letter issued by the head of financing and Guarantee on behalf of the Chairman of the capital market Supervisory Agency and the financial institutions that are communicated to the guarantor or guarantors of the Anniversary will be examined.
32. The Minister is the Minister of Finance of Republic of Indonesia.
2. The provisions of article 3 is amended to read as follows: article 3 (1) in addition to doing business activities referred to in article 2 paragraph (1), the guarantor can conduct other business activities, namely: a. the guaranteeing of loans channeled to the cooperative members;
b. Credit Guarantee and/or loan partnership program that channeled State-owned enterprises in the framework of the partnership and community development program (PKBL);
c. Guarantee channeling money loans with collateral pawn and fiduciary;
d. guarantee bond;
e. Guarantee of trade transactions;
f. securing of the procurement of goods and/or services (surety bond);
g. bank guarantee Guarantee (counter bank guarantees);
h. berdokumen letter of Credit Guarantee in the country (SKBDN);
i. Guarantee letters of credit (L/C);
j. Guarantee Customs (custom bond);
k. management consulting services related to business activity Guarantee;
b.   provision of information/databases secured, associated with the business activities of the Guarantee; and/or other Guarantee m. after obtaining the approval of the Minister.
(2) the guarantor can do re-Assurance upon Assurance as referred to in paragraph (1) letter a up to the letter m.
3. Between article 3 and article 4 is inserted 1 (one) article, namely Article 3A which reads as follows: article 3A (1) in conducting its business activities, the guarantor Guarantor Agency services can use.
(2) the guarantor Agency referred to in subsection (1) is a person or legal entity that conducts marketing activities Securing business for and on behalf of the Guarantor.
(3) in case the guarantor Guarantor agencies using the services of the guarantor, the guarantor is obligated to use the agent recorded as a member of the Association of Underwriters.
(4) the guarantor is obligated to have an agency agreement with the Guarantor do marketing agent for and on behalf of the Guarantor.

(5) all actions pertaining to the Guarantor agency transactions Guarantee the Guarantor's responsibility diageni.
(6) in the agency agreements as referred to in paragraph (4), the guarantor is obligated to apply the clause granting commissions to the agents the highest Guarantor of 15% (fifteen per hundred) of IJP.
(7) If a guarantor in violation of the provisions referred to in subsection (3), subsection (4), and subsection (6), namely: a. use the service a Guarantors agent not recorded as a member of the Association of the guarantor;
b. no agency has agreements with the Underwriters doing marketing agent for and on behalf of the Guarantor; and/or c.  do not include the clause granting commissions to agents or Underwriters include the clause granting commissions to the agents Underwriters exceeding 15% (fifteen per hundred) of the IJP in the agency agreement, the guarantor referred to administrative sanctions imposed in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.
4. The provisions of article 4 paragraph (1), subsection (2) is deleted as well as the plus three (3) paragraph, namely, subsection (3), subsection (4), and subsection (5) so that the overall article 4 reads as follows: article 4 (1) the guarantor or Guarantors obliged Birthday liquidity.
(2) is deleted.
(3) liquidity ratio of the guarantor or Guarantor Re assigned at least 150% (one hundred fifty per hundred).
(4) the ratio of liquidity as referred to in paragraph (3) is calculated using current ratio i.e. comparison between assets smoothly with debt well.
(5) If the guarantor or Guarantors Reworked violates these terms as referred to in paragraph (1) and paragraph (3), that does not keep the liquidity or liquidity ratios have less than 150% (one hundred fifty per hundred), Guarantor or Guarantor Re referred to administrative sanctions imposed in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.
5. In between article 4 and article 5 inserted 2 (two) article, namely Article 4A and 4B which reads as follows: Article 4A (1) Guarantor can only be invested in the form of: a. deposits at commercial banks;

b. State securities and/or securities Shariah State;

c. Securities and/or Islamic securities issued by Bank Indonesia;

d. corporate bonds and/or corporate sukuk incoming investment rating (investment grade);

e. stocks listed on the Indonesia stock exchange;

f. mutual funds and/or Islamic mutual fund; and/or g.  direct participation on the guarantor.
(2) the guarantor can only be re-invested as referred to in paragraph (1) letter a to letter f.
(3) the restrictions on investment as referred to in paragraph (1) and paragraph (2) are as follows: a. investment in the form of deposits on any public bank set the highest 50% (fifty per hundred) of the total investment;
b. investments in the form of State securities and/or securities Shariah State the most high assigned 50% (fifty per hundred) of the total investment;
c. investment in the form of securities and/or Islamic securities issued by Bank Indonesia set maximum temperature 50% (fifty per hundred) of the total investment;
d. investment in the form of corporate bonds and/or corporate sukuk incoming investment rating (investment grade) at the moment of placing the most high assigned 20% (twenty per hundred) of the total investment;
e. investment in the form of shares that are listed on the Indonesia stock exchange set the highest 10% (ten per hundred) of the total investment;
f. investments in the form of mutual funds and/or Islamic mutual fund established the highest 5% (five per hundred) of the total investment; and/or g.  investment in the form of direct participation in the most high assigned the re-Assurance of 10% (ten per hundred) of the total investment.
(4) If a guarantor in violation of the provisions referred to in paragraph (1) and paragraph (3), namely: a. make investments other than in the form of: 1. deposits at commercial banks;

2. State securities and/or securities Shariah State;

3. the Securities and/or Islamic securities issued by Bank Indonesia;

4. corporate bonds and/or corporate sukuk incoming investment rating (investment grade);

5. the shares were listed on the Indonesia stock exchange;

6. mutual funds and/or Islamic mutual fund; and/or 7.  direct participation on the guarantor, b.  does not meet the investment restrictions as follows: 1. the investment in the form of deposits on any commercial banks exceeded 50% (fifty per hundred) of the total investment;
2. investment in the form of State securities and/or securities Shariah the country exceed 50% (fifty per hundred) of the total investment;
3. investment in the form of securities and/or Islamic securities issued by Bank Indonesia in excess of 50% (fifty per hundred) of the total investment;
4. investment in the form of corporate bonds and/or corporate sukuk incoming investment rating (investment grade) at the time of placement exceeds 20% (twenty per hundred) of the total investment;
5. investment in the form of shares that are listed on the Indonesia stock exchange exceeds 10% (ten per hundred) of the total investment;
6. investment in the form of mutual funds and/or Islamic mutual fund exceeds 5% (five per hundred) of the total investment; and/or 7.  investment in the form of direct participation on the guarantor Re exceeds 10% (ten per hundred) of the total investment, the guarantor referred to administrative sanctions imposed in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.
(5) If a guarantor Re breaking provisions referred to in paragraph (2) and paragraph (3), namely: a. make investments other than in the form of: 1. deposits at commercial banks;

2. State securities and/or securities Shariah State;

3. the Securities and/or Islamic securities issued by Bank Indonesia;

4. corporate bonds and/or corporate sukuk incoming investment rating (investment grade);

5. the shares were listed on the Indonesia stock exchange; and/or 6.  mutual funds and/or mutual funds, b.  does not meet the investment restrictions as follows:.
1. investment in the form of deposits on any commercial banks exceeded 50% (fifty per hundred) of the total investment;
2. investment in the form of State securities and/or securities Shariah the country exceed 50% (fifty per hundred) of the total investment;
3. investment in the form of securities and/or Islamic securities issued by Bank Indonesia in excess of 50% (fifty per hundred) of the total investment;
4. investment in the form of corporate bonds and/or corporate sukuk incoming investment rating (investment grade) at the time of placement exceeds 20% (twenty per hundred) of the total investment;
5. investment in the form of shares that are listed on the Indonesia stock exchange exceeds 10% (ten per hundred) of the total investment; and/or 6.  investment in the form of mutual funds and/or Islamic mutual fund exceeds 5% (five per hundred) of the total investment, the guarantor referred to Reset administrative penalties in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.
Article 4B (1) Guarantor or guarantor Claims reserves required to have restarted at least 0.25% (zero comma twenty five per hundred) of the total value of the Guarantee the guarantor or Guarantor are borne.
(2) a guarantor or guarantor is required to have the anniversary of General reserves of at least 25% (twenty five per hundred) of net profit at the end of each period of the annual report.
(3) General Reserves as referred to in paragraph (2) may only be used to cover losses that cannot be filled by a reserve claims.
(4) If the guarantor or Guarantors Reworked violates these terms as referred to in subsection (1) until subsection (3), namely: a. do not form or form Claims reserve the reserve Claim but less than 0.25% (zero comma twenty five per hundred) of the total value of the Guarantee the guarantor or Guarantor are borne Re;
b. do not form a general reserve general reserve or form but less than 25% (twenty five per hundred) of net profit at the end of each period of the annual report; and/or c.  using common backup in addition to cover losses that cannot be met by a backup Guarantor or Guarantor claims, Repeated referred to administrative sanctions imposed in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.
6. The provisions of article 7 of the letters i was changed so that the whole of article 7 read as follows: article 7 an application for getting a business license as referred to in article 6 paragraph (1), submitted to the Minister by the Board of directors or the Executive Board in accordance with the format as contained in the annex to the regulation of the Minister of finance and must be enclosed with: a. deed of establishment of legal entities including the statutes that had been enacted by agencies authorized , at least contain: 1. name, seat, and the scope of operational areas;

2. business activities as Guarantor or Guarantor Re;

3. capital;

4. ownership; and


5. the authority, responsibilities, term of Office.
b. data candidates Superintendent includes: 1. latest photo size 4 x 6 cm;

2. photocopy of identification in the form of Cards (KTP) Resident Signs or valid passport;

3. list of publications; and 4.  statement: a. not named on the list of bad debts in the banking sector;

b. never convicted of the crime of crimes;
c. never declared bankruptcy or found guilty resulting in a company/companies declared bankrupt by virtue of a court decision that has the force of law;
d. no term concurrently on Guarantors and/or Underwriters Reset but as Commissioner/Board of Trustees/supervisory Re Underwriters for the Board of directors or trustees; and e.  certificate or written evidence or Assurance experience in banking or other financial institutions for 2 (two) years for one of the Board of directors or Executive Board.
c. data of shareholders/members in terms of: 1. the attached document individuals, is the document referred to in subparagraph b of Figure 1, Figure 2, and Figure 3 as well as a waiver that comes not from capital deposit loans and money laundering activity (money laundering);
2. legal entities, the attached documents are: a) the deed of establishment of legal entities, including the following basic budget changes that have got an endorsement from establishments authorized;
b) financial report audited by a public accountant and/or final financial reports; and c) the documents referred to in subparagraph b of Figure 1, Figure 2, and Figure 3 for the shareholders and the Board of directors or trustees of such legal entity.
d. organizational structure which has the function of risk management, financial management functions, the functions of the Ministry and the development of information/database is assured;
e. system and work procedures a guarantor or Guarantor Re;
f. work plan (business plan) for the first three years that at least contain: 1. a feasibility study about the market opportunity and economic potential;
2. plan the business activities or the guarantor the guarantor and the steps of the activities will be done in realizing the plans in question; and 3.  the projection of the balance sheet, income statement and cash flow statement monthly during 12 (twelve) months that began since the guarantor and the guarantor Re do the operational activities.
g. list of human resources who have experience in the field of Guarantee;
h. proof of deposit repayment capital photocopy a minimum in the form of time deposits of legal entities on behalf of the guarantor or Guarantors on one of the commercial banks in Indonesia and legalized by the recipient's bank deposits are still valid for in the process of filing of business license;
i. operational readiness among other evidence such as: 1. a list of fixed assets and inventories;

2. proof of ownership, mastery or lease agreement rent office building;
3. examples of forms, including a certificate of Guarantee which will be used for the operations of the guarantor or Guarantors Reset; and 4.  Tax Payer Number (NPWP).
7. The provisions of article 11 paragraph (1), subsection (2), and subsection (3) amended and added two verses, namely paragraphs (4) and paragraph (5) so that the overall article 11 reads as follows: article 11 (1) paid-in capital or savings, a mandatory deposits and grant the underwriters determined the scope of the operation that is national or provincial.
(2) the amount of paid-in capital or savings, a mandatory deposits and grant the underwriters assigned at least: a. Rp RP 100,000,000,000 (one hundred billion rupiah), for national scope; or b.  RP 25.000.000.000 RP (twenty five billion rupiah), for the scope of the province, (3) the amount of paid-in capital or deposits, deposits mandatory and Re designated Guarantor grants at least Rp RP 200.000.000.000 (two hundred billion rupiah).
(4) If a guarantor in violation of the provisions referred to in subsection (2), namely: a. has a paid-in capital or deposits, mandatory deposits and grants less than Rp RP 100,000,000,000 (one hundred billion rupiah), for national scope; or b.  has a paid-in capital or deposits, mandatory deposits and grants less than Rp 25.000.000.000 RP (twenty five billion rupiah), for the scope of the provinces, the guarantor referred to administrative sanctions imposed in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.
(5) If a guarantor Re breaking provisions referred to in paragraph (3), which has a paid-in capital or deposits, mandatory deposits and grants less than Rp RP 200.000.000.000 (two hundred billion rupiah), then Restart the guarantor referred to administrative penalties in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.
8. The provisions of article 10 paragraph (2) and paragraph (3) are amended so that the overall Article 22 reads as follows: article 22 (1) Takeover can be done with the guarantor or Guarantors to take over all or most of the shares of the guarantor or Guarantors other resulting in Rework beralihnya control of the company.
(2) implementation of the guarantor or Guarantors against takeover Reset as mentioned in subsection (1) may be made by meeting the following conditions: a. implementation of the takeover does not lead to reduced the rights of recipients of Guarantees or rights of the guarantor; and b.  the implementation of the mandatory takeover comply with Gearing Ratio of productive Undertakings as referred to in article 42A of paragraph (4) and total Gearing Ratio as stipulated in article 42A subsection (5) so that it does not lead to companies that do not comply with the takeover of the Gearing Ratio are allowed.
(3) If the guarantor or Guarantors Reworked violates these terms as referred to in paragraph (2), namely: a. do takeovers resulting in reduced the rights of recipients of Guarantees or rights of the guarantor; or b.  doing so resulted in the takeover of the Guarantor or Guarantors Reset does not meet the conditions of the Gearing Ratio of productive Undertakings as referred to in article 42A of paragraph (4) and total Gearing Ratio as stipulated in article 42A subsection (5), Guarantor or Guarantor Re referred to administrative sanctions imposed in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.
9. The provisions of article 38 paragraph (2) and subsection (4) amended and paragraph (3) is deleted, so that the overall Article 38 reads as follows: article 38 (1) in carrying out its business activities, the guarantor and the guarantor receives IJP Re received IJPU.
(2) the magnitude of the price of the IJP or IJPU set with consideration of, among other things: a. risks covered;

b. the period of Guarantee;

c. public administration costs, operational and marketing; and d.  advantage.
(3) is deleted.
(4) in case the guarantor undertakes the guarantee which is a government program then the terms regarding the IJP referred to in subsection (2) does not apply to Guarantors in question and criteria of determination of IJP for Guarantors are arranged in a regulation of the Minister of finance.

10. the title of Chapter XVI changed, to read as follows: Chapter XVI GEARING RATIO and the VALUE of the GUARANTEE for BUSINESSES EARNING 11. The provisions of article 42 are deleted.

12. Between Article 42 and article 43, pasted one article, namely Article 42A which reads as follows: article 42A (1) in order to organise business or re-Assurance Guarantee a healthy, Guarantor or Guarantor Re to safeguarding the Gearing Ratio.
(2) Gearing Ratio referred to in subsection (1) is a comparison between the total value of the Guarantee or the Guarantee borne Repeated itself with its own capital or the guarantor the guarantor clean Restart at a specific time.
(3) the net own capital of the guarantor or Guarantors Reset as mentioned in subsection (2) is: a. the sum of the paid-in capital, reserves, and reduced profits, loss, in which case the guarantor or Guarantor Re shaped legal entities limited liability company, public company, the company's corporate and regional companies; or b.  the summation of the compulsory deposits, deposits, grants, reserve fund, and the rest of the business results, reduced investment and losses, in terms of the guarantor or Guarantor Re shaped legal entity of cooperatives.
(4) the Gearing Ratio for re-Assurance or Guarantee for Productive Effort set most high 10 (ten) times.
(5) Total Gearing Ratio for the guarantor or Guarantors Reset set most high 40 (forty) times.
(6) If the guarantor or Guarantors Reworked violates these terms as referred to in paragraph (1), subsection (4), and subsection (5), namely: a. has a Gearing Ratio of productive Business exceeds 10 (ten) times; and/or b.  have total Gearing Ratio exceeds 40 (forty) times, the guarantor or Guarantor Re referred to administrative sanctions imposed in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.
13. The provisions of article 43 paragraph (2) is deleted, paragraph (1) and paragraph (3), as well as between subsection (2) and paragraph (3) is inserted three paragraphs, namely subsection (2a), (2b), and subsection (2 c), so the whole Article 43 reads as follows: article 43

(1) a guarantor or Guarantors Reset which does not meet the conditions of the Gearing Ratio of productive Undertakings as referred to in article 42A of paragraph (4) and total Gearing Ratio as stipulated in article 42A subsection (5) is given a period of not longer than 4 (four) months after the date of the notice to the Guarantor or Guarantors to satisfy the conditions of the Gearing Ratio.
(2) is deleted.
(2a) a guarantor or Guarantors Reset which does not meet the conditions of the Gearing Ratio referred to in subsection (1) is obligated to deliver to the Minister regarding plans for the fulfillment of the Gearing Ratio which has been approved by the Board of Commissioner/Board of Trustees/agency Superintendent.
(2b) the plans of the fulfillment of the Gearing Ratio contains steps include: a. Re-Assurance or Guarantee restructuring;

b. discontinuance of re-Assurance or Guarantee;

c. addition of capital or deposits, mandatory deposits and grants by the shareholders;

d. incorporation of the business entity.
(2 c) of the plan of the fulfillment of the Gearing Ratio as mentioned in subsection (2a) delivered the longest one (1) month after the date of the notice to the Guarantor or Guarantors.
(3) If the guarantor or Guarantors Reset which does not meet the conditions of the Gearing Ratio referred to in subsection (1), in violation of the provisions referred to in subsection (2a) and subsection (2 c), namely: a. the fulfilment of plans did not convey the Gearing Ratio which has been approved by the Board of Commissioner/Board of Trustees/agency Superintendent to the Minister;
b. convey plan fulfillment Gearing Ratio exceeded the period of one (1) month after the date of the notice to the Guarantor or Guarantors, Guarantors or Re Guarantors referred to administrative penalties in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.

14. The provisions of article 44 is deleted.

15. Between Article 44 and article 45, pasted one article, namely article 44A which reads as follows: article 44A (1) Guarantor is obligated to have the value of Guarantee for businesses Earning at least 20% (twenty per hundred) of the total value of the Guarantee of not longer than 2 (two) years since getting a business license.
(2) If a guarantor of violating the provisions as referred to in paragraph (1), that has the value of productive Undertakings Guarantee less than 20% (twenty per hundred) of the total value of the Guarantee after 2 (two) years get a business license, the guarantor referred to administrative sanctions imposed in accordance with the procedures for the imposition of Sanctions as set forth in the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies And re-Assurance Company credit.
16. The provision of article 62 is amended to read as follows: article 62 (1) examination of any Guarantor or Guarantor Re done periodically at least once in 2 (two) years or at any time when necessary.
(2) the periodic Inspection referred to in subsection (1) are fully equipped which includes aspects of the periodic report substance, compliance with laws and regulations in the field of guarantee institutions.
(3) Periodic Inspection referred to in subsection (1) is contained in the annual inspection plan and adjusted with the scale of priorities of the guarantor the guarantor or type of business re-assigned by the head of the Bureau of Finance and Underwriting, capital market Supervisory Bodies and financial institutions.
(4) an examination of each of the time referred to in subsection (1) is an examination that is special and is done when: a. based on the results of the analysis of periodic statements or Guarantor Guarantor Re worth allegedly conducting business activities that the company meant deviating from legislation in the field of guarantee institutions so that it can pose a risk over the interests of the parties in the activities of Assurance or Guarantee Reset;
b. based on the research information obtained or mail complaints received by the Bureau of Finance and Underwriting, capital market Supervisory Agency and financial institution ought to be presumed that the conduct of the business activities of the company meant deviating from legislation in the field of guarantee institutions so that it can pose a risk of the recipient of the Guarantee; or c.  There is a specific reason that underlies the need to do checks, among other things: 1. verification of the operational activities of the company;

2. the merger;

3. melting;

4. the takeover; and/or 5.  transfer of portfolio of Guarantee or Assurance.
17. Amend Annex I of the regulation of the Minister of finance Number 222/FMD. 010/2008 about the Credit Guarantee Companies and re-Assurance Company Credit so that it becomes as contained in the annex to the regulation of the Minister of finance as the part that is an integral part of the regulation of the Minister of finance.
Article II 1.  The provisions of article 80 is removed.

2. Between 80 and article 81 Article inserted 2 (two) article, namely Article 80A placed in Chapter XXII and section 80B placed in Chapter XXIII, which reads as follows: article 80A (1) Guarantor or guarantor of business license Reset is still valid at the time of promulgation of this regulation of the Finance Minister, declared to remain valid.
(2) the guarantor or Guarantors reprint permission of his business still apply as mentioned in subsection (1) is obligated to adjust liquidity and liquidity ratios, a form of investment and public investment restrictions, backup and backup claims, Gearing Ratio of productive Effort and total Gearing Ratio, as well as the value of the Guarantee for Productive Business with the provisions referred to in article 4 paragraph (1) and paragraph (3), Article 4A subsection (1) to paragraph (3) Article 4B, subsection (1) until subsection (3), article 42A subsection (4) and paragraph (5), and article 44A subsection (1) the regulation of the Minister of finance is the longest 2 (two) years counted from the date of promulgation of the regulation of the Minister of finance.
Section 80B (2) the provisions concerning the use of the service by the guarantor Guarantor agencies and Guarantors Rework as referred to in article 3A para (3) comes into force one (1) year after the promulgation of the regulation of the Minister of finance.
(2) provisions on the amount of paid-in capital or deposits, mandatory deposits, and a grants referred to in article 11 paragraph (2) and paragraph (3) are excluded for the guarantor or Guarantors reprint permission his efforts upon the establishment and regulation of the Minister of finance.

3. Regulation of the Minister of Finance began in force on the date of promulgation.

In order to make everyone aware of it, ordered the enactment of these Regulations the Minister of finance with its placement in the news of the Republic of Indonesia.

Established in Jakarta on July 8, 2011 at the INDONESIAN FINANCE MINISTER AGUS MARTOWARDOJO D.W., Enacted in Jakarta on July 8, 2011 MINISTER of LAW and HUMAN RIGHTS Republic of INDONESIA, PATRIALIS AKBAR fnFooter ();