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Government Regulation Number 31 2003

Original Language Title: Peraturan Pemerintah Nomor 31 Tahun 2003

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business activities in the geothermal sphere executed by the Company (PERSERO) as referred to in paragraph (1), are transferred to the child. the company formed by the Perseroan Company (PERSERO).

Section 8
At the time of the establishment of the Perseroan Company (PERSERO), all subsidiaries and joint ventures of Pertamina conducted direct or direct-related business activities in the field of oil and gas switching. being a subsidiary and a Perseroan Company (PERSERO) joint venture company.

Section 9
.,, (1) By the diversion of the form as referred to in Article 1, all Pertamina workers are turned into the workers of the Perseroan Company (PERSERO).
.,, (2) With the transition referred to in paragraph (1), the rights and obligations between Pertamina with the Pertamina worker that concerns the status, norms and conditions of work, other wages and income, severance and/or awards for the service, as well as The pension benefits switch to the rights and obligations between the Company of Perseroan (PERSERO) with the workers of the Company of Perseroan (PERSERO).

Section 10
At the time the Perseroan Company (PERSERO) stands, the company 's entire subsidiary and joint venture as referred to in Article 8 remains the company' s child worker or the joint venture concerned.

BAB VI
THE TRANSITION PROVISION

Section 11
At the time this Government Regulation is in effect, all Pertamina's existing provisions, including the organizational structure of workers ' placement within the organization, guidelines and the work and other matters relating to the execution of tasks and responsibilities The responsibility of Pertamina, as long as it does not conflict with this Government Regulation, is declared to remain in effect until its new provisions by the Perseroan Company (PERSERO).

BAB VII
CLOSING PROVISIONS

Section 12
The further provisions necessary for the implementation of this Government Regulation are governed by the Minister of Finance, the State Minister of State-owned Enterprises, and the Minister of Energy and Mineral Resources together.

Section 13
This Government Regulation shall come into effect on the date of the promulctest.

In order for everyone to know it, order the invitational of this Government Regulation with its placement in the State Sheet of the Republic of Indonesia.

.,,
Set in Jakarta
on June 18, 2003
PRESIDENT OF THE REPUBLIC OF INDONESIA,

MEGAWATI SOEKARNOPUTRI
Promulgated in Jakarta
on June 18, 2003
STATE SECRETARY OF THE REPUBLIC OF INDONESIA,

BAMBANG KESOWO

v>
.,, SET: GOVERNMENT REGULATION ON THE DIVERSION OF THE FORM OF THE COUNTRY ' S OIL AND GAS MINING COMPANY (PERTAMINA) BEING THE COMPANY OF PERSEROAN (PERSERO).

BAB I
DIVERSION OF FORM

Section 1
.,, (1) The State Petroleum and Gas Mining Corporation (Pertamina) which was established with Law No. 8 of 1971 transferred its form into the Perseroan Company (PERSERO) as referred to by Law Number 9 of 1969, and This is called the Perseroan Company (PERSERO) in the Government's Ordinance.
.,, (2) By diversion of the form as referred to in paragraph (1), all rights and obligations, as well as all Pertamina bonds against other parties, switching to the Perseroan Company (PERSERO) in question, as long as it is not contradictory to Law Number 22, 2001.

BAB II
INTENT AND PURPOSE

Section 2
.,, (1) The Perseroan Company ' s intent (PERSERO) as referred to in Section 1 is to host the oil and gas fields both inside and abroad as well as other related activities related to or supporting the business activities. in the field of oil and gas the earth.
.,, (2) The Purpose of the Company (PERSERO) as referred to in Section 1 is for:
.,
., a., a. Attempt to create a profit based on the company's principle of effective and efficient;
., b. contribute in improving economic activity to the welfare and prosperity of the people.

BAB III
COMPANY CAPITAL PERSEROAN (PERSERO)

Section 3
., (1) The Modal Company Perseroan (PERSERO) placed and tuned at the time of its establishment, derived from the entire wealth of the State embedded in Pertamina, including the wealth of Pertamina embedded in subsidiaries and joint ventures (joint venture) Pertamina at the time of the enactment of this Government Regulation.
., (2) Wealth as referred to in paragraph (1), excluding the wealth which was transferred to the Managing Board as referred to in Government Regulation No. 42 of 2002.
.,, (3) The capital of the Perseroan Company (PERSERO) as referred to in paragraph (1) is set by the Minister of Finance based on the results of a joint calculation conducted by the Department of Finance and the Department of Energy and Mineral Resources.
.,, (4) Early Modal while the Perseroan Company (PERSERO) is set by the Minister of Finance.
., (5) other provisions regarding the Perseroan Company (PERSERO) set up in its General Budget, including the provisions regarding the base capital of the Company Perseroan (PERSERO) which is divided over the shares in accordance with the provisions of the Regulation. Government Number 12 Year 1998 as amended by Government Regulation No. 45 of 2001.

BAB IV
ESTABLISHMENT EXECUTION
THE PERSEROAN COMPANY (PERSERO)

Section 4
The execution of the Company (PERSERO) as referred to in Article 1, is done according to the provisions set forth in the Law No. 1 of 1995 on the Limited Perseroan, with regard to the provisions set forth in the Government Regulation No. 12 of 1998 on Corporate Perseroan (PERSERO) as amended by Government Regulation Number 45 of 2001 and applicable law provisions.

Section 5
The completion of the establishment of the Perseroan Company (PERSERO) as referred to in Article 4 is done by the Minister of Finance.

BAB V
OTHER LAIN-CONDITIONS

Section 6
.,, (1) The Perseroan Company (PERSERO) may carry out the assignment of the Government in the provision and service of the Petroleum Fuel for domestic purposes.
.,, (2) In the case of the Company PerserO (PERSERO) carrying out the assignment as referred to in paragraph (1), the amount of compensation arising from the assignment is set forth by the Minister of Finance at the suggestion of the Minister whose duties and responsibilities include Petroleum and gas fields.
.,, (3) The work plan and financial statements in order of assignment as referred to in paragraph (1), are made separately in the work plan, budget and financial statements of the Perseroan Company (PERSERO).

Section 7
.,, (1) By the time the Perseroan Company (PERSERO) stood up, the business activities in the geothermal field conducted itself by Pertamina, and which was carried out through the operation of operations by Pertamina, switched to the Company Perseroan (PERSERO).
.,, (2) In the most prolonged period of 2 (two) years since the Company of Perseroan (PERSERO) was established, the