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Presidential Decree No. 78-2004 Text copy _?.
Back COUNTRY SHEET Republic of INDONESIA No. 99, 2004 DECISION of the PRESIDENT of the REPUBLIC of INDONESIA NUMBER 78 in 2004 ABOUT the ENDORSEMENT of the AGREEMENT BETWEEN the GOVERNMENT of the REPUBLIC of INDONESIA and the GOVERNMENT of the REPUBLIC OF BULGARIA CONCERNING the ENHANCEMENT and PROTECTION of INVESTMENT, the PRESIDENT of the REPUBLIC of INDONESIA, Considering: a. that in Jakarta, on September 13, 2003 the Government of the Republic of Indonesia have signed an agreement between the Government of the Republic of Indonesia and the Government of the Republic of Bulgaria concerning the enhancement and protection of Investment as a result of negotiations between the delegation of the Republic of Indonesia Government delegates and the Government of the Republic of Bulgaria;
.,, b. that with respect to it, viewed the need to ratify the agreement by decision of the President;
.,, Considering: 1. Article 4 paragraph (1) and article 11 of the Constitution of 1945;
., ,2. Law Number 24 year 2000 concerning international treaty (State Gazette year 2000 Number 185, Supplement Sheet country number 4012);
DECIDED:.,, define: PRESIDENTIAL DECREE ABOUT the ENDORSEMENT of the AGREEMENT BETWEEN the GOVERNMENT of the REPUBLIC of INDONESIA and the GOVERNMENT of the REPUBLIC OF BULGARIA CONCERNING the ENHANCEMENT and PROTECTION of INVESTMENT.
Article 1 confirms the agreement between the Government of Republic of Indonesia and the Government of the Republic of Bulgaria concerning the enhancement and protection of Investment, which has been signed by the Government of the Republic of Indonesia in Jakarta, on September 13, 2003, as a result of negotiations between the delegation of the Republic of Indonesia Government delegates and the Government of the Republic of Bulgaria that copies of the original texts in the language of Indonesia, Bulgaria and the United Kingdom as it is attached to the decision of the President.
Article 2 this presidential decree took effect on the date set.
In order to make everyone aware of it, ordered the enactment of Presidential Decree this with its placement in the State Gazette of the Republic of Indonesia.
.,, Set in Jakarta on September 27, 2004 the PRESIDENT of the REPUBLIC of INDONESIA, MEGAWATI SUKARNOPUTRI Enacted in Jakarta on September 27, 2004 the SECRETARY of STATE of the REPUBLIC of INDONESIA, BAMBANG KESOWO AGREEMENT BETWEEN the GOVERNMENT of the REPUBLIC of INDONESIA and the GOVERNMENT of the REPUBLIC OF BULGARIA CONCERNING the IMPROVEMENT and the PROTECTION of the Government of the Republic of Indonesia CAPITAL PENAMAMAN and the Government of the Republic of Bulgaria (hereinafter referred to as "the parties");
Given the relationship of friendship and cooperation that has been created between the two countries and their people and the desire to develop economic cooperation between them.
Intend to create favorable conditions for investments by the investor of one party are based on the same sovereignty and mutual benefit; and acknowledged that the agreement about the increase and Periindungan over the capital investment will be encouraged to stimulate investment activities in both countries;
Has approved things as follows: article I Definitions for the purposes of this agreement:.,, 1. The term "investment" means every kind of asset that was planted by the investor of one party in the territory of the other party, in accordance with the rule of law and regulations applicable in the territories of the Parties, include but are not limited to:.,,.,, a. objects moving and not moving including other rights such as mortgages , special things, liens and guarantees as well as other similar rights;
.,, b. rights derived from stocks, bonds or any other form of investing in companies or joint ventures on the territory of the other party;
.,, c. over money bills or bills of any implementation that has a value of financial and economic value; d. intellectual property, process engineering, muhibah, and expertise;., konsensi e., the effort given by the law on the basis of contract or administrative activities of an authorized institution which deals with investing including konsensi to search for, dig, cultivate or exploit natural resources. Any change in the form of assets invested will not affect its shape as capital investment, as long as the change does not conflict with the laws of the parties, in the region where the investment is done. 2. Istitah "investor" for each side consists of:.,,.,, (i) a person who has the citizenship of one party in accordance with his rule and infuse capital in the territory of the other party;
.,, (ii) legal entities established or a limited liability company in accordance with the applicable laws of a party, based in the territory of that party and infuse capital in the territory of the other party;
., ,3. The term "without delay" deemed to have been met if a transfer is performed within the time period stipulated in the common practice of international finance.
., ,4. The term "income" must include all amounts generated by a capital investment, such as earnings, dividends, interest and other income. 5. The term "territory" should be interpreted as:.,, a. in the relations with the Republic of Indonesia:.,, the territory of the Republic of Indonesia are defined in perundang-undangannya and is part of the continental shelf and adjacent seas where the Republic of Indonesia has sovereignty, sovereign rights or jurisdiction in accordance with the Convention on the law of the sea of the United Nations in 1982. b. in the relations with the Republic of Bulgaria:.,, the territory under the sovereignty of the Republic of Bulgaria includes the territorial sea and the continental shelf and the exclusive economic zone, where the Republic of Bulgaria undertakes the sovereign rights and jurisdiction in accordance with international law.
ARTICLE II the enhancement and protection of Investment,, 1. Each party within its territory should encourage capital investment by investor of the other party and must admit such investments in accordance with the laws and regulations in force.
., ,2. Capital investment by an investor of either party at any time to be treated in a reasonable and balanced and must have adequate protection and security in the territory of the other party.
., ,3. In accordance with the laws and regulations applicable in the territories of Parties investing about admission, lived, worked and displacement of the main officials of the investor who has the citizenship of one of the parties and their family members, should be permitted to enter, stay and leave the territory of the other party for the purpose of carrying out activities in the area of investment the last Party.
ARTICLE III the treatment over Investment,, 1. Each Party shall ensure reasonable treatment and provide balanced for investing capital-raiser from the other parties and may not be the blocking action is unwarranted or discrimination, implementation, management, maintenance, use, enjoyment of the rights or the top division of the capital investment.
., ,2. In particular, each party must treat the investor should in any case not less favourable than that accorded to investments made by the investor of a third State;
., ,3. The provisions in paragraphs 1 and 2 of this article shall not be construed as an obligation of one party to give privilege to the investor of the other party as provided to the investor from a third country on the basis of:.,,.,, a., Participation or association, in an economic community that has existed or will come, the Customs Union, a free trade area and other similar institutions, which were formed on the basis of an international agreement , or b. Agreement relating to the double tax avoidance.
., ,4. If legal provisions of each party or obligations under international law that exist today or are made then between each side in addition to this agreement contain a provision that either General or specialized to give a capital investment by an investor of the other party treatment more favourable than is provided by this agreement, the regulation all the more profitable than this agreement.
ARTICLE IV takeovers.,, 1. Each party is unable to perform the Act of takeovers, nationalization, or any other proprietary right of revocation, which resulted the same as takeovers against nationalization or capital investment by an investor of the other party except by virtue of the law specifically for the interests of all the interest is not accrued on the basis of non-discrimination and in a manner that does not conflict with the principle of indemnity payment of proper and adequate.
., ,2. Indemnification shall be in accordance with adequate market value of capital investment that was acquired immediately before the action is performed or takeovers was announced, of which the first, paid without delay and can be transferred freely. These damages should cover the interest on the basis of the commercial rate of interest from the date of the expropriation until the date of payment.
CHAPTER V Compensation for losses Investors of capital from one party, the cultivation of the capital on the territory of the other party suffer losses owing to war or armed konftik, revolution, State of emergency, revolt, insurrection or riot in the territory of the other party, that party should be given a final treatment that is no less favourable than that granted to the investor from a third country with regard to indemnifikasi , indemnification or other settlement.
ARTICLE VI The Transfer
., ,1. Each party must guarantee based on laws and regulations relating to the investment by investor of the other party, allow the investor to transfer without delay upon:.,,.,, a. capital and additional funds are used to maintain and increase capital investment; b. income from capital investment;
c. funds for repayment of the loan;
d. royalties or fees;., individual income, the parties are permitted to work in connection with investments in the territory of the other party;
., f., liquidation and the overall or partial sale of capital investment; g. compensation for losses;
h. damages for takeovers.
., ,2. The transfer must be made in the currency named in accordance with the applicable exchange rate on the date of transfer is done deal went in the currency to be transferred.
ARTICLE VII Subrogasi If capital investment by investor of the other party dipertanggungkan for non commercial risks in accordance with the applicable legal system, every subrogasi of the insurer or the insurer upon the anniversary of the investor's rights as specified in the coverage of other Parties recognized by the insurer or the insurer, but reset not entitled to rights and obligations other than the rights and obligations derived from the investor.
CHAPTER VIII settlement of Disputes between an Investor and the parties.,, 1. Any dispute between the parties and the other Party, the investor about the investing Parties called last in the territory of the party that referred to earlier, resolved peacefully through consultation and negotiation.
., ,2. If such disputes can not be settled within six months from the date of either party to the dispute requested amicable settlement, the investor concerned may submit the dispute to:.,, a. Judicial authorities of the parties.
.,, b. If the dispute relates to Article IV, V and VI of this agreement, the investor concerned may choose to apply for the settlement of such disputes by arbitration to:.,,.,,-ad hoc Arbitration Trial which was formed on the basis of the International Trade Law Commission (United Nations Commission on the Law of International Trade/UNCITRAL), or., – the International Centre for the settlement of Disputes concerning capital investment (International Centre for Settlement of Investment Disputes ICSID/) which was established by the Convention on the settlement of Investment Disputes between the State and the other State Capital Raiser signed in Washington DC on March 18, 1965, in terms of both countries became signatories of this Convention.
., ,3. The arbitration decision is final and binding on the parties to the dispute and carried out in accordance with the national law of the parties concerned.
ARTICLE IX settlement of disputes between the parties regarding the interpretation and application of the agreement.,, 1. The dispute between the parties concerning the interpretation or application of this Agreement shall, whenever possible, be settled through diplomatic channels.
., ,2. If the dispute between the Parties are not able to be solved through negotiations, upon request of either party, the dispute may be submitted to judicial arbitration.
., ,3. Judicial arbitration is formed for each case with the Ordinance as follows:.,, in the three months from receipt of the request for arbitration, each Party shall designate one member of the judiciary. Both of these members then choose a third Country citizens with the consent of the parties, the Chairman of the Arbitration Trial.
The Chairman shall be appointed for a period of 2 months from the appointment of the two members.
., ,4. If the grace period referred to in paragraph 3 of this article, the necessary appointment has not been made, then either party, if there is no other agreement, may request the Chairman of the International Court of Justice to perform the necessary appointment.
., When the Chairman of the International Court of Justice of the nation of one of the parties or was unable to to run the function, then the Vice Chairman of the International Court of Justice is asked to do the necessary appointment.
If the Vice Chairman of the International Court of berkewarga up his u.s. one party and he is also unable to to run the function, then the other members of the International Court of Justice on the basis of seniority who is not the nation of one of the parties is requested to conduct the appointment in question.
., ,5. The Arbitration Court took its decision based on the most votes. The decision binding on both parties. Each party will bear the costs of its members in the judiciary and also his Deputy in charge of the judiciary, the Chairman of the Judicial and other costs are borne jointly by the parties with the same Division. However the judiciary may decide the larger part which must be borne by one of the parties and of the judicial ruling binding upon both parties. The judiciary will determine its own procedure.
Article X implementation of the Agreement the present agreement applies to investments by investors of capital from the Republic of Bulgaria that has been permitted on the territory of the Republic of Indonesia in accordance with the Law Number 1 year 1967 regarding Foreign capital investment and any laws that amend or replace them, and towards the capital investment by investor from the Republic of Indonesia which has been permitted on the territory of Bulgaria in accordance with the law regarding economic activities concerning the protection of foreigners and Foreign capital investment in 1992 and any laws that amend or replace it.
ARTICLE XI Consultation and change.,, 1. Each party may request the holding of consultations regarding any matter relating to this agreement. The time and venue for the consultation will be agreed upon through diplomatic channels.
., ,2. This agreement can be changed at any time, if deemed necessary, by mutual agreement.
ARTICLE XII took effect, time period and termination.,, 1. This agreement comes into force 3 months after the date of the last notice of one of the parties of the completion of the internal procedures of ratification. This agreement will remain valid and so on will be valid for a period of ten years and so on unless terminated in writing by either party one year before the expiry of this agreement.
., ,2. For capital investment which is done before the expiration date of this agreement, the provisions of article I to XI shall remain in force for a period of ten years commencing from the date of the next expiration of this agreement.
As proof, the undersigned below, who is given the full power by the Government respectively, have signed this agreement.
Made in double in Jakarta on 13 September of the year two thousand three in Indonesian Language, Bulgaria and the United Kingdom.
All scripts have the same legal force. If there is a difference of interpretation, then the script in a language of the United Kingdom.
For The GOVERNMENT Of For The GOVERNMENT Of INDONESIA REPUBUK REPUBUK BULGARIA JANNES HUTAGALUNG KRASSIMIR KATEV VOUTEV DEPUTY MINISTER FOR DEPUTY MINISTER OF FINANCE COORPORATION INTERNATONAL ECONOMIC COORDINATING MINISTRY FOR ECONOMIC AFFAIRS Attachments ... (the text of The United Kingdom)
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