Act No. 32 Of 1997

Original Language Title: Undang-Undang Nomor 32 Tahun 1997

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ACT 32-1997 Text copy _?.
Back COUNTRY SHEET Republic of INDONESIA No. 93, 1997 (Additional explanation in the State Gazette of the Republic of Indonesia Number 3720) legislation of the REPUBLIC of INDONESIA NUMBER 32 in 1997 ABOUT COMMODITY FUTURES TRADING with the GRACE of GOD ALMIGHTY the PRESIDENT of the REPUBLIC of INDONESIA,.,, Considering: a. that the national development aims to realize a fair and prosperous society that is equitable materially and spiritually based on Pancasila and the 1945 Constitution;
.,, b. that in an effort to realize a just and prosperous society, national economy needs to be supported by a national trading system that is efficient and effective;
.,, c. that in the era of globalization and free trade that is full of competition, commodity futures trading as a means of price risk management as well as the establishment of an effective and transparent price has a strategic role in realizing a national trading system that is efficient and effective;
., d., that in order for commodity futures trading which aims at enhancing the business activities of the commodity can be established on a regular basis, reasonable, efficient, effective and protects the community from adverse actions as well as providing legal certainty to all parties who perform activities of commodity futures trading, then needed a strong legal basis;
.,, e. that based on the above considerations, viewed the need to reshape the law on commodity futures trading;
.,, Remember: article 5 paragraph (1), article 20 paragraph (1) of article 33, paragraph (1) of the Constitution of 1945;
With the approval of the HOUSE of REPRESENTATIVES of the REPUBLIC of INDONESIA to decide:.,, set: the law on COMMODITY FUTURES TRADING.
CHAPTER I GENERAL PROVISIONS article 1 In this law is the:.,, 1. Commodity Futures trading, hereinafter called futures trading, is everything to do with the buying and selling of commodities with the submission later based on futures contracts and options on Futures contract.
., ,2. The commodity is merchandise became the subject of a futures contract traded on the Futures Exchange.
., ,3. The Exchange is a business entity that organizes and provides system and/or the means to buy and sell Commodity Futures and options Contracts based on top of a futures contract.
., ,4. A futures contract is a standardized contract form to purchase or sell Commodities in quantity, quality, time, place and type of submission at a later date that has been set, and includes in the notion of the contract this is the contract of Futures Options.
., ,5. Options over forward contracts, hereinafter called the option is a contract that gives the buyer the right to buy or sell a futures contract over a specified Commodity at a price level, amount, and the period of time that has been set in advance by paying a certain amount of premium. 6. the Minister is the Minister responsible in the field of trade.
., ,7. Clearing and Guarantee institution, hereinafter called the Futures Clearing House for futures, is a business entity that organizes and provides systems and/or means of clearing and guarantee the execution of transactions on the Futures Exchange.
., ,8. The party is an individual person, cooperative, other business entities, joint venture, Association, or group of individuals and/or companies that are organized. 9. Affiliate is:.,,.,, a. family relationship because marriage and descendants up to the second degree, both horizontally as well as vertically;
, b.., the relationship between the Party and the officers, directors or Commissioners, of that party;
.,, c. relationship between two companies that have one or more members of the Board of directors or a member of the Board of Commissioners;
.,, d. relationship between the company and the Parties, either directly or indirectly, a controlling or controlled by the company;
.,, e. the relationship between the two corporate-controlled, either directly or indirectly, by the same Party; or f. the relationships between the company and major shareholders.
., .10. Members of the Futures Exchange is the party that has the right to use the system and/or the means of Exchange, in accordance with the regulations and the code of conduct of futures exchanges.
.,, 11. Members of the clearing house and the guaranteeing futures, the Futures Clearing Member hereinafter referred to, is a member of the Exchange who got the rights from Futures Clearing House to do the clearing and guarantee in order to obtain a settlement of the contract.
., 12. Futures trading brokerage, which is hereinafter referred to as futures broker, is a business entity that performs the activities of buying and selling of commodities Futures Contracts based upon the client's mandate by attracting some money and/or certain securities as margin to warrant such transactions.
., 13. Futures trading adviser, hereinafter called Futures Advisor, is the party that gave advice to others regarding the buying and selling of commodities based on futures contracts by accepting rewards.
.,, 14. Center for Futures Trading Funds, hereinafter called Sentra Dana futures, is a container used to gather funds from society to collectively invested in futures contracts.
., 15. Manager Center for Futures Trading Fund, hereinafter called the Centre Manager Funds futures, is a party that do business related to the penghimpun and management of funds from the Central Fund participants to be invested in Futures Contracts.
.,,16. Futures trader, who then called the futures trader, is a member of the Exchange who is only entitled to Transact futures contracts on the futures exchanges for yourself or group efforts.
., General Agreement. The customer is the party that Transact futures contracts through accounts maintained by a futures broker.
., 18. Compensation fund is a fund that was used to pay compensation to customers who are not members of the Futures Exchange due to injury and/or errors committed by members of the Futures Exchange in his position as a futures broker.
.,, 19. A margin is an amount of money or securities to be placed by the customer on a futures broker, futures broker at the Futures Clearing Member, or a member of a Futures Clearing on Futures Clearing House to guarantee the execution of Futures transactions.
Article 2 of the public Policy in the area of futures trading established by the Minister.

Chapter 3 Commodities that could be made the subject of a futures contract set by presidential decree.

CHAPTER II SUPERVISORY AGENCY COMMODITY FUTURES TRADING article 4.,, (1) the construction, arrangement and supervision of daily activities conducted by futures trading commodity futures trading Watchdog Agency, hereinafter called Bappebti. (2) Bappebti is below and is responsible to the Minister.
.,, (3) the order and the position of the Organization Bappebti set with presidential decree.
Article 5 coaching, supervision, and everyday settings as mentioned in article 4 paragraph (1), carried out with the purpose:.,, a. embody an orderly futures trading activities, the fair, efficient and effective manner and in an atmosphere of healthy competition; b. protect the interests of all parties in the futures trading; and, c.., embodies the futures trading activities as a means of price risk management and transparent price formation.
Article 6 in the implementing provisions referred to in article 4 and article 5, Bappebti authorities:.,, a. made a further explanation is technically over the legislation and/or peratuaran implementation; b. giving:.,,.,, 1) business license to the Futures Exchange. Clearing House for futures, Futures, Futures Advisers, and Fund Centre Manager Futures;
., .2) individual permit anyone to be representative of a futures broker, Futures Advisers, Representatives and representatives of the Central Manager of futures Funds; 3) registration certificate to the futures traders;., 4) approval to domestic futures broker to transmit the customer's domestic mandate to foreign futures exchanges; and, 5) the approval to the bank upon the recommendation of Bank Indonesia to hold customer funds, compensation fund, and the guarantee fund relating to the transactions of futures contracts as well as for the establishment of the Central Funds futures. c. set the list of futures exchanges abroad and Contract Berjangkanya;.,, d. checks against the party that has a business license, permit, approval or individual person a certificate of registration;
., e., appoint another party to perform certain inspection in the framework of the implementation of the authority Bappebti, as stated on the letter d;
., f., ordered the inspection and investigation against any party that is alleged to breach the terms of this Act and/or regulation pelaksaannya;
.,, g. approved the rules and conduct of futures exchanges and Futures Clearing House, including the changes;
.,, h. gives approval against the futures contract will be used as the basis for buy and sell Commodity Futures Exchanges in accordance with the requirements that have been determined;
.,, i. establish the requirements and procedures for the nomination and lay off for a while a member of the Board of Commissioners and Board of Directors and/or appoint temporary management of futures exchanges and Futures Clearing House until the election of the members of Board of Commissioners and/or new Board members by a shareholders ' Meeting;
.,, j. sets out the financial requirements of the reporting obligations and minimum for the party that has a business license by virtue of the provisions of this Act and/or regulations implementation;

.,, k. set limits the maximum amount and limits the number of open positions report futures contracts that can be owned or controlled by each party;
.,, b. directs the Futures Exchange and clearing house for futures to take measures deemed necessary when it is believed would happen mengakibatan the development of prices on the Futures Exchange into unnatural and/or implementation of the contract be hampered;
.,, m. obliges each party to stop or correct the advertising or promotional activities that misled with regard to futures trading and the Parties take the necessary steps to overcome the repercussions arising from the advertisement or promotion in question;
.,, n. set conditions on customer funds on the futures broker that is experienced in bankruptcy;
.,, o. check the objection raised by one party against the decision of the Exchange or Futures Clearing Lembaha and decide to strengthen or withdraw it;
., p. form means the settlement of problems relating to the activities of futures trading;
., q., announced the results of the inspection, if deemed necessary, to ensure the implementation of market mechanisms and the obedience of all the parties to the provisions of this Act and/or regulations implementation;
., r., perform the necessary actions to prevent the loss of the community as a result of pelanggarann against the provisions of the Act and/or regulation pelaksanaanya; and, s.., doing other things that are given based on the provisions of the Act and/or regulation pelaksaannya.
Chapter 7.,, (1) Bappebti charge to the top of the activities of his Ministry in giving permission, approval, and other activities.
.,, (2) the conditions and the large costs as referred to in paragraph (1), governed more by government regulations.
Article 8 Every officer Bappebti and/or other parties assigned by Bappebti do examination or investigation is prohibited from utilizing any information obtained for personal gain or disclose to other parties, unless disclosure of such information is set out in the applicable legislation.

Article 9 where necessary, it may request the opinion of Bappebti expert or forming a Committee to give consideration and/or give advice to Bappebti in connection with the activities and development of futures trading.

CHAPTER III of FUTURES EXCHANGES and the CLEARING HOUSE is considered part of the FUTURES Exchange Paragraph 1 of article 10 Futures Exchange was established with the purpose of organizing an orderly Futures transactions, fair, efficient, effective and transparent.

Paragraph 2 licensing and Legal form of the business license section 11 for the Exchange can only be granted by a business entity to Bappebti shaped individuals are limited.

Article 12.,, (1) the Futures Exchange was founded by a number of business entities that are not affiliated with each other.
.,, (2) the founders referred to in subsection (1) is the first member of the Futures Exchange.
.,, (3) that can be a shareholder of the Exchange is a member of the Exchange in question.
.,, (4) futures trader is obligated to obtain a registration certificate from Bappebti before allowed to conduct trading activity on the Exchange.
Article 13 distribution of Customer mandate to foreign futures exchanges can only be made to the Futures Exchange and futures contracts that the list is defined by Bappebti.

Paragraph 3 of article 14 Activities. Scope, Activities, (1) the transaction of the contract can only be made on the futures exchanges that have obtained business license from Bappebti and based on the provisions of this Act and/or regulations implementation.
.,, (2) a futures contract can only be traded on the Futures Exchange after the provisions and terms of approval Bappebti.
Article 15 futures exchanges organizes the physical commodity transaction type as set forth in article 3.

Paragraph 4 duties, Obligations and authorities article 16 futures exchanges in charge:.,, a. provides the facilities enough to be invited, an orderly Futures transactions, fair, efficient and effective;
.,, b. annual budget plan and the use of profits of futures exchanges in accordance with the conditions set out by and reported Bappebti; and c. develop rules and code of conduct of futures exchanges.

Article 17 (1) mandatory Futures Exchange:.,,.,, a. has enough capital to organise the activities of the Futures Exchange with the good;
.,, b. preparing records and reports in detail all activities members of the Futures Exchange transaction-related futures contracts and mastery of the subject commodity futures contracts;
.,, c. guarantees the confidentiality of the information financial position as well as the business activities of the members of the Futures Exchange, unless such information is provided in the framework of the implementation of the provisions of this Act and/or regulations implementation; d. establish compensation fund;

e. have a unit examiner;., f., document and store properly all the data related to the activities of the Futures Exchange; g. disseminate information exchange-traded futures contract prices;.,, h. monitor the activities and financial condition of members of the Futures Exchange as well as a clotting takes action or dismissal of members of the Futures Exchange which does not meet the requirements of the financial and reporting, in accordance with the provisions of this Act and/or regulations implementation.
.,, (2) Director unit of the examination referred to in subsection (1) the letter e, mandatory reporting directly to the Board of Directors, Board of Commissioners of futures exchanges, and material about Bappebti found, that could affect members of the Futures Exchange and the Futures Exchange are concerned.
.,, (3) a compulsory Exchange provides all the reports unit examiner at any time when required by Bappebti.
.,, (4) before it came into force, regulations and code of conduct Futures Exchange as stipulated in article 16 c of the letter including the change, mandatory to gain approval from Bappebti.
Article 18 the Exchange authorities:.,, a. evaluating and testing the qualification of candidates as well as accept or reject the candidate be a member of the Exchange;
.,, b. set the pricing system and establish a settlement, along with the Futures Clearing House;
.,, c. set a minimum financial and reporting requirements for members of the Exchange;
.,, d. conducting surveillance activities as well as the examination of bookkeeping and records of members of the Futures Exchange at regular intervals and at any time is required; e. set membership fee and other costs;., f. take any action it deems necessary to secure the transactions of futures contracts, including preventing the possibility of manipulation of prices;
.,, g. establish the mechanisms of settlement of complaints and disputes in connection with the transaction of a futures contract;
., h., take steps to ensure the implementation of the mechanism of Futures transactions properly and report it to Bappebti; and, i.., obtain the necessary information from Futures Clearing House relating to transactions carried out by members of the Futures Exchange Clearing House.
Paragraph 5 of article 19 Termination of activities the activities of the transactions in the Futures Exchange can be stopped temporarily, either for the whole or part of the contract, if there are things or events that harm the interests of society or the State that does not allow host activities reasonably futures contract transactions.

Article 20 Termination while, as mentioned in article 19:.,, a. for a period of no more than a day's work, can be done by the Futures Exchange with the obligation of immediately report it to Bappebti; and, b.., for a period of more than one working day, can only be done by Bappebti.
Clause 21.,, (1) if the cause of the termination of the entire transaction while a futures contract as referred to in article 7 cannot be resolved within a certain period, stop the activities of futures exchanges Bappebti regularly and revoking permissions.
.,, (2) before setting the cessation of activities of the Futures Exchange on a permanent basis as referred to in paragraph (1), consider compulsory community interests Bappebti public, Clients, members of the Futures Exchange is concerned, and other institutions related to the activities and the licensing of futures exchanges.
.,, (3) an action referred to in subsection (1) is required to be reported by Bappebti Minister and announced widely.
Section 22.,, (1) when the Futures business license revoked, a legal entity of futures exchanges in question is dissolved in accordance with the legislation in force.
.,, (2) if there is a remainder of the richness of the liquidation of futures exchanges, futures broker rights as a shareholder, the rest of the mandatory wealth used first to pay the corresponding futures broker's liability to the customer.
Article 23 the provisions concerning the requirements and procedures for the establishment, licensing, termination, and the dissolution of the Futures Exchange as referred to in article 12, article 13, article 14, article 19, article 20, article 21 and article 22 further regulated with a government regulation.

The second part of Paragraph 1 Futures Clearing House the purpose of section 24 Futures Clearing House was set up with the aim of supporting the creation of a regulated futures contract transactions, fair, efficient, and effective in the Exchange.

Paragraph 2 licensing and legal forms Article 25.,, (1) Organizing the Exchange comes with a Futures Clearing House.

.,, (2) a futures clearing house, as referred to in paragraph (1), a business entity is a limited liability company that has shaped obtained business license as a clearing house for futures from Bappebti.
.,, (3) business license as referred to in paragraph (2), is given to a business entity that is separate from the Exchange and are independent.
Paragraph 3 the duties, obligations and authorities of Article 26 Futures Clearing House is in charge, among other things:.,, a. provide facilities adequate for the implementation of the settlement of the futures contract transactions; and b. develop rules and code of conduct Futures Clearing House.

Article 27 (1) a futures clearing house obligated:.,,.,, a. has enough capital to organise an activity with good Futures Clearing House;
.,, b. deposit funds received from the members of Clearing futures in a separate account from the account belonging to the clearing house for futures on the bank that approved by Bappebti;
.,, c. guarantees the confidentiality of the information financial position as well as the business activities of the Futures Clearing Member, unless such information is provided in the framework of the implementation of the provisions of this Act and/or regulations implementation;
.,, d. document and store all data related to the Futures Clearing House activities; and, e.., monitor activities and financial condition of clearing Members of futures as well as take action freezing or dismissal of members of Clearing futures that do not meet the minimum financial requirements and reporting in accordance with the provisions of this Act and/or regulations implementation.
.,, (2) before it came into force, regulations and code of conduct Futures Clearing House as stipulated in article 26 letter b include a mandatory change, obtain the consent of Bappebti.
Article 28: authorities Futures Clearing House., a., evaluate and test the qualifications of candidates as well as accept or reject the candidate be a member of a Futures Clearing;
.,, b. setting minimum financial and reporting requirements for Futures Clearing Member;
.,, c. conduct surveillance activities as well as the examination of bookkeeping and records of Futures Clearing Members at regular intervals and at any time is required; d. set the membership fee and other costs;., e., obtain the necessary information from futures exchanges related to transactions carried out by members of Clearing Futures; and, f.., take steps to ensure the implementation of the mechanism of clearing and guarantee transactions of futures contracts well and report it to Bappebti.
Paragraph 4 of article 29 Termination Activities., (1) a futures clearing house Activities were stopped in the event of penggentian activity in Futures transactions.
.,, (2) When a futures clearing house activities terminated as intended in paragraph (1), revoke the business license Bappebti clearing house for futures and Futures clearing house legal entity concerned was dissolved, in accordance with the applicable legislation.
Article 30 the provisions concerning the requirements and procedures for licensing, termination, and Futures Clearing House dissolution as stipulated in article 25 and article 29, governed more by government regulations.

CHAPTER IV a FUTURES BROKER and ADVISER Considered part of FUTURES Futures Article 31.,, (1) the business activities as a futures broker can only be done by members of the Futures Exchange in the form of a limited liability company that has obtained the business license of Bappebti futures broker.
.,, (2) business license as referred to in paragraph (1), only given to members of the Futures Exchange which has financial integrity, good business reputation, skills and profession.
.,, (3) the implementation of the activities referred to in paragraph (1) of the individual who has obtained the permission of the representative of a futures broker from Bappebti.
Article 32 mandate of Channeling the customer to foreign futures exchanges can only be done by a futures broker that meets specific requirements based on statutes Bappebti.

Article 33 provisions on the requirements and procedures for licensing a futures broker, futures broker Representative, and a futures broker transmits the customer's mandate to a foreign Futures Exchange as referred to in article 31 and article 32, governed more by government regulations.

The second part of article 34 Futures Adviser.,, (1) as a futures Advisory business activities can only be undertaken by those who have obtained the business license of a futures Advisory Bappebti.
.,, (2) business license as referred to in paragraph (1), given only to those who have high professional skills, good business reputation and financial integrity.
.,, (3) the implementation of the activities referred to in paragraph (1), for the Futures Advisory business entities, performed by an individual as Deputy Advisor to the Futures gained permission from mandatory Bappebti.
Article 35 the provisions concerning the requirements and procedures for licensing Advisory futures and Futures Advisor Representative as referred to in article 34, governed more by government regulations.

Chapter V SENTRA SENTRA MANAGER FUTURES and FUNDS of FUNDS FUTURES Funds Futures Center is considered Part of article 36.,, (1) Center for Futures Fund was formed on the basis of the contract between the provider of the Sentry Funds futures and bank, which bind the participant Centers Funds futures.
.,, (2) the establishment of a Center for Futures Fund is obligated to obtain approval from Bappebti.
.,, (3) All the richness of the Futures Fund compulsory Centers are stored on the bank, as referred to in paragraph (1), hereinafter called the Bank's day care center for Futures Fund.
.,, (4) as a proof of ownership of the funds in the Futures Fund Centers, participants obtain certificates of Participation.
Article 37 Futures Funds Centers is prohibited: a. receiving and/or provide loans; and/or,, b. using funds Futures Funds Centers to buy a certificate of Participation from other Futures Fund Centers.
Article 38 the provisions regarding the procedures for the approval of the establishment of the Central Funds Futures as well as the submission of the draft guidelines and the preparation of contracts as referred to in article 36, governed more by government regulations.

The second part Centers Futures Fund Managers Article 39.,, (1) the business activities as the Central Manager of futures Funds can only be made by the Parties in the form of a limited liability company must obtain a business license Center for Futures Fund Manager from Bappebti.
.,, (2) Business License Manager Center for Futures Fund is awarded only when those concerned have the ability and the financial integrity and managed by an individual who has a good business reputation and competence of the profession.
.,, (3) the implementation of the activities referred to in paragraph (1) of the individual must obtain the permission of the Deputy Manager of Futures Fund Centers Bappebti.
Article 40.,, (1) Futures Fund Centers Manager is in charge of managing the investment portfolio of Futures Fund Centers.
.,, (2) the Manager of Futures Fund compulsory Centers in good faith and with full responsibility for carrying out the task as best as possible solely for the benefit of the Central Funds futures.
.,, (3) if the person who manages the Central Funds Futures did not carry out his obligations as referred to in paragraph (1), the person who manages the Futures Fund compulsory Centers are responsible for any losses incurred because of his actions.
Article 41.,, (1) the Manager of the Central Funds Futures selling certificates of Participation continuously up to a certain amount and time period specified in the contract.
.,, (2) the holder of a certificate of Participation can resell the certificate of inclusion and the Central Manager of Futures Fund is obligated to buy back the Participation Certificate.
.,, (3) the exclusion of the provisions referred to in subsection (2) may only be conducted if:.,,.,, a. Futures transactions on the Futures Exchange that is the basis of the Investment Funds of futures Centers largely stalled; b. the provisions set out in the contract management of Futures Funds Centers.
Article 42.,, (1) the Manager of the Central Funds Futures market fair value count mandatory from futures contracts in the Futures Portfolio Fund Centers for daily Futures transaction activities based on the provisions specified by Bappebti.
.,, (2) the value of the investment Certificate is determined based on the value of net assets and announced by Manager Center for Futures Fund.
Article 43 Futures Funds Center Managers banned:.,, a. storing wealth Centers Funds Futures on the bank affiliated with it; and/or b. using the services of a futures broker affiliated with it.

Article 44 the provisions concerning the requirements and procedures for the licensing of Futures Fund Centre Manager and the Deputy Manager of futures as well as Fund Management Centre, as stipulated in article 39, article 41, Article 42, and further regulated by government regulations.

CHAPTER VI Article 45 COMPENSATION FUND.,, (1) a mandatory muster funds futures exchanges of Futures for the compensation fund.
.,, (2) in addition to the sources of the funds referred to in subsection (1), compensation fund can also be collected from other legitimate sources approved by Bappebti.
.,, (3) compensation fund referred to in subsection (1), mandatory deposited in a separate account from the account of the Exchange at a bank approved by the Bappebti.
.,, (4) the minimum amount of compensation fund that must be compiled and large contribution of each Member of the Futures Exchange which serves as a futures broker is defined by the Futures Exchange with the approval of Bappebti. (5) the compensation fund has been deposited cannot be withdrawn.

Article 46

.,, (1) compensation fund used by the Futures Exchange to pay demands of compensation to customers who are not members of the futures exchange incurred due to injury of a promise or a mistake made by a futures broker. (2) the use of the compensation fund can only be considered if:.,,.,, a. assisting disadvantaged have been attempting to do billing directly to the corresponding futures broker, but to no avail; or.,, b. billing results not met or haven't sufficient amount of compensation that should be accepted by the customer concerned.
.,, (3) the payment of compensation by the Futures Exchange to the customer does not reduce the obligation corresponding to futures broker:.,, a. pay back the damages to the Futures Exchange; and, b.., pay to the customer the difference between the punitive damages and the amount accepted in billing should not be filled entirely, as referred to in paragraph (2) letter b.
.,, (4) compulsory funds paid out by the futures broker referred to in subsection (3), can be sued as debt futures broker concerned.
Article 47 When the Exchange was declared bankrupt or stopped the activities in accordance with the provisions of this Act and/or regulations implementation, compensation fund be a wealth of futures exchanges used to pay liabilities of futures exchanges after payment of all demands for compensation to the customer over the compensation fund is completed.

Article 48 the provisions regarding usage, storage and gathering together the compensation fund referred to in Article 45, article 46 and article 47 further regulated with a government regulation.

CHAPTER VII IMPLEMENTATION of FUTURES TRADING is considered Part of conduct Article 49.,, (1) any Party banned futures trading activities, unless such activities are conducted on the basis of the provisions of this Act and/or regulations implementation.
.,, (2) it is prohibited to transmit any party mandate to Transact futures contract from a third party, unless such transactions are conducted on the basis of the provisions of this Act and/or regulations implementation.
Article 50, a, (1) a futures broker is obligated to know the background, financial circumstances and knowledge about futures trading from its customers.
.,, (2) a futures broker is obligated to deliver the document Description and Company Documents notice of the existence of the risk and make an agreement with the customer before the corresponding futures broker can receive funds belonging to account holders to trade futures contracts.
.,, (3) barred futures broker receives a Commission when a Customer know the customer is concerned:.,, a. has been declared bankrupt by the Court;.,, b. has been declared in violation of the provisions of this Act and/or regulations implementation by the judiciary or Bappebti; c. the officials or employees:.,, 1) Bappebti, Futures Exchange, Futures Clearing House; or., .2) the Treasurer of the agency that serves the public interest, unless the corresponding power of the institution.
.,, (4) a futures broker in giving recommendations to the customer to buy or sell a futures contract must be notify when there is a futures broker's interests are concerned.
Article 51.,, (1) a futures broker, before carrying out the transaction of the contract to the customer, the customer shall be obliged to withdraw from Margin to guarantee such transactions.
.,, (2) the margins referred to in subsection (1), may take the form of money and/or specific securities.
.,, (3) a futures broker is obligated to treat the Margin property of the customer, including additional funds transaction outcome is concerned, as the funds belong to customers.
.,, (4) the customer's proprietary Funds as referred to in paragraph (3), compulsory is stored in a separate account from the account of a futures broker at a bank approved by the Bappebti.
.,, (5) Customer-owned Funds can only be drawn from separate accounts, as referred to in paragraph (4), for the payment of commissions and other fees in connection with the transaction of the contract and/or for other purposes on the orders of the customer in question.
.,, (6) when a futures broker is declared bankrupt, the Fund belongs to the customer in the mastery of futures broker cannot be used to fulfill the obligations of a futures broker to third parties or creditors.
Article 52.,, (1) prohibited conduct Futures transactions of futures contracts for Customer accounts, unless it has received written orders for each transaction from the client or its designated in writing to represent the interests of the customer in question.
.,, (2) In particular, it can specify that Bappebti futures broker may also conduct transactions over the contract for its own account.
.,, (3) a futures broker is obligated to give precedence to the transaction of the contract over its national mandate.
Article 53.,, (1) a futures Advisory obligation to find out the background, financial circumstances, and knowledge about the Futures of his clients.
.,, (2) a futures Advisory Documents Description conveys the mandatory Company Documents and Notification of risk to the client before the two sides tying themselves into an agreement granting services.
.,, (3) a futures Advisory prohibited interest or received money and/or certain securities from its clients, except for payment of services rendered to the client in question.
.,, (4) futures in Advisory provides recommendations to clients to buy or sell a futures contract must be notify when there is a futures Advisory interests are concerned.
Article 54.,, (1) the Manager of the Central Funds Futures are obligated to know the background, financial circumstances, and knowledge about futures trading of Futures Fund Center participants.
.,, (2) the Manager of Futures Fund compulsory Centers deliver the document Description and Company Risk Notification Document to prospective participants of the Central Funds Futures before the two sides tying themselves in an agreement of the management of the Central Funds futures.
.,, (3) the person who manages the Central Fund Hub every managing mandatory Futures Funds futures in an agency that is separate from the Central Manager of Futures Fund is concerned.
.,, (4) who manages the Center for Futures Fund is obligated to put together funds collected from the prospective participants of the Central Funds futures in a separate account from the Account Manager of futures Funds in question Centers on the bank that approved by Bappebti.
Article 55 futures broker, futures and Advisory Center for Futures Fund Manager is obligated to ensure the confidentiality of data and information about the customer, client, or the participant Centers Funds futures, and are prohibited from disclosing such information and data, unless it obtained written consent from the customer, client or participant Center for Futures Funds concerned or as required by applicable legislation.

Article 56 concerning provisions of the code of conduct referred to in Article 49, article 50, article 51, article 52, article 53, article 54 and article 55 further regulated by government regulations.

The second part of the Trading Practices Prohibited by article 57.,, (1) in trading a futures contract each party prohibited conduct or attempted to perform the manipulation through actions:.,,.,, a. either directly or indirectly, at the same time controlled much of the supply of Commodity Futures Contracts and physically with a buy position;
., b., either directly or indirectly buy or sell a futures contract that can lead an active trading occurs as if or which resulted in the creation of a misleading information regarding the State of the market or the price of futures contracts on the futures exchanges;
.,, c. create, distribute, and/or have someone else create and/or distribute statements or information that is not correct or misleading with regard to the transactions of futures contracts with the intention of taking advantage of the onset of the turmoil on the Stock Futures prices due to tersebarluasnya statements or such information. (2) every party banned:.,,.,, a. Transact futures contracts that have been set previously are not reasonable;
.,, b. completing two or more opposing Customer mandate for the same futures contract outside futures exchanges;
.,, c. directly or indirectly become an opponent of customer transactions, except:.,, 1) mandate of the client has been offered on futures exchanges are open; and, 3, 2) transactions that occur are reported, recorded and dikliringkan in the same way as other mandate that traded on the Futures Exchange; or, d.., directly or indirectly affect other parties to Transact futures contracts by way of coaxing or give hope of profit outside of naturalness.
Article 58.,, (1) every party has prohibited, either directly or indirectly, the open positions above futures contracts that exceed the maximum limit.
.,, (2) the maximum Limits as referred to in paragraph (1), established by Bappebti.
Article 59 each party is obligated to report to Bappebti through Futures Exchange open position when the futures contract reached a certain limit set by Bappebti.

Article 60 Provisions regarding trade practices that are prohibited as referred to in article 57, article 58 and article 59, governed more by government regulations.

The Third Part Of Civil Dispute Resolution


Article 61 without prejudice to the right of the parties to resolve the dispute of civil litigation relating to futures trading in court or through arbitration, any compulsory dispute settlement first attempted through: a. the deliberation to reach consensus among the parties to the dispute; or.,, b. utilization of the means provided by Bappebti and/or futures exchanges in the deliberations, to reach consensus, as stated on the letter a, is not achieved.
Article 62 of the Civil Code provisions on settlement of disputes referred to in Article 61, governed more by government regulations.

CHAPTER VIII of the BOOKKEEPING and REPORTING Article 63.,, (1) the Exchange, clearing house for futures, Futures, Futures Advisers, and Fund Centre Manager of futures, mandatory:., a., conveying reports at regular intervals and/or intermittently to Bappebti;.,, b. make and keep books, records, and/or recording of everything relating to its activities;
.,, c. prepare bookkeeping, record, and/or recording referred to in subparagraph b for may at any time review by Bappebti.
.,, (2) a Party who has obtained a permit as a futures broker, Futures Advisers, Representatives and the Deputy Manager of Futures Fund Centers as well as parties who have obtained approval and/or registration certificate are required to also submit a report at any time needed.
Article 64.,, (1) a futures broker, Advisor to the futures, and Futures Funds Centers Manager is obligated to report to each of the parties residing Bappebti in position to take control of the business entity.
.,, (2) the parties may be considered to be in control of the business entity as referred to in paragraph (1), among other things:.,, a. Board of Commissioners and Board of Directors;.,, b. parties who directly or indirectly have shares of at least 20% of all shares that have voting rights in the company or a smaller amount than that, in accordance with the Ordinance Bappebti; or, c.., others who are doing the real control of the activities of business entities in question.
Article 65 provisions on accounting and reporting as referred to in article 63 and article 64, governed more by government regulations.

CHAPTER IX SCREENING and INVESTIGATION Part I Examination Article 66.,, (1) Bappebti can perform checks against each of the alleged Party, either directly or indirectly, do or become involved in any violation of the provisions of this Act and/or regulations implementation.
.,, (2) in conducting an examination referred to in subsection (1), the authorized Bappebti:.,,.,, a. requesting information and/or confirmation of any Party suspected of directly or indirectly do or become involved in any violation of the provisions of this Act and/or regulations implementation or from another party if deemed necessary;
.,, b. checking and/or make copies against bookkeeping records, and/or other documents, both belonging to each party that allegedly make or become involved in any violation of the provisions of this Act and/or regulations the implementation as well as the other party's possession if deemed necessary;
.,, c. requires that every party that allegedly make or become involved in any violation of the provisions of this law and its implementation regulations or to perform or not perform certain activities; and/or, d.., set the terms and/or allow any party that allegedly make or become involved in any violation of the provisions of this Act and/or regulations of implementation to perform certain actions that are needed in order to resolve any losses incurred.
Article 67 the provisions regarding the procedures for the implementation of the inspection as referred to in article 66, governed more by government regulations.

The second part of investigation Article 68.,, (1) the particular civil servant Officials in the neighborhood as a special authorized Bappebti investigator to conduct the investigation of criminal acts in the field trade futures based on the provisions of the book of law Event Pisana.
.,, (2) the investigating officials of the civil servant referred to in subsection (1), authorized:.,,.,, a. receive reports or complaints about the occurrence of an act should be thought to be the criminal acts in the area of futures trading; b. conducting research over the truth of the complaint or report;., c., researching, call, examine, and ask for information as well as evidence from any party that allegedly make or as a witness in criminal acts in the area of futures trading;
.,, d. perform examination of bookkeeping, record, and/or other documents related to criminal acts in the area of futures trading;
.,, e. checks in certain places suspected becoming storage places or places obtained evidence, bookkeeping, record, and/or other documents as well as confiscate objects which can be used as evidence in the criminal acts in the area of futures trading;
.,, f. appealed to banks or other financial institutions to freeze the accounts of those who are suspected of doing or involved criminal acts in the area of futures trading;
., g., enlisted the help of experts in conducting the proceedings of criminal acts in the area of futures trading; and h. stated when it is started and terminated the investigation.
.,, (3) with respect to the implementation of the tasks of investigation referred to in subsection (2), Bappebti apply permissions to the Finance Minister to obtain information from the bank about the financial circumstances of the suspect at the bank in accordance with the laws and regulations in the field of banking.
.,, (4) the investigating officials of the civil servant referred to in subsection (1), notify you when it is started the investigation to the investigating police officials of the Republic of Indonesia.
.,, (5) officials of the civil servant Investigators as intended in paragraph (1), delivering the results penyidikannya to the public prosecutor's Office Police Officials through the Republic of Indonesia by considering the provisions of article 6, article 7, and article 107 of the Act No. 8 of 1981 on the law of criminal procedure.
.,, (6) in the framework of the implementation of the investigation referred to in subsection (1), may request the assistance of Bappebti law enforcement officials another.
CHAPTER X ADMINISTRATIVE SANCTIONS and CRIMINAL PROVISIONS is considered Part of the administrative Sanctions Article 69.,, (1) Bappebti administrative sanctions wore the authorities in violation of the provisions of this Act and/or regulations implementation carried out by every party that obtained a business license, permit, approval, or setifikat registration from Bappebti. (2) administrative Sanctions referred to in paragraph (1) can be:.,, a. a written warning;

b. administrative fines, namely the obligation to pay a certain sum of money;

c. restrictions on business activities;

d. the freezing of business activities;

e. revocation of business license;

f. revocation;

g. cancellation of approval; and/or h. certificate revocation of registration.
Article 70 the provisions concerning administrative sanctions referred to in Article 69, governed more by government regulations.

The second part of criminal Provisions Article 71.,, (1) any Party who performs the activities of futures trading without having a business license as referred to in article 14 paragraph (1), article 25 paragraph (2), article 31, paragraph (1) of article 34 paragraph 91), or article 39 paragraph (1), was threatened with imprisonment of not longer than five years and a maximum fine of Rp criminal 6.500.000.000 2,000 (six billion five hundred million rupiah).
.,, (2) any Party who undertake activities without having the consent referred to in Article 13, article 14, paragraph (2) of article 14 paragraph (3), article 32 or article 36, paragraph (2), was threatened with imprisonment of not longer than three years and a maximum fine of Rp criminal 4.000.000.000 RP (four billion dollars).
.,, (3) any party which undertake activities without having a permit referred to in article 31, paragraph (3) of article 34 paragraph (3), or article 39 paragraph (3), or without having a registration certificate as referred to in article 12 paragraph (4), threatened with criminal confinement of one year and the longest criminal fine of Rp 1,000,000,000 for most (one billion dollars).
Article 72 Any parties who undertake activities which are prohibited as stipulated in article 57 was threatened with imprisonment at most eight-year-old criminal and a maximum fine of Rp RP 10.000.000.000 (ten billion rupiah).

Article 73.,, (1) any Party who does not fulfill the obligations as stipulated in article 5 clause (1) of the letter c, article 27 paragraph (1) letter b, article 27 paragraph (2) Letter c, article 36 paragraph (3), article 45 paragraph (3), article 51 paragraph (3), article 51 paragraph (4), article 54, paragraph (3) of article 54 paragraph (4), article 55, article 59, article 63 paragraph (2) or do an activity that is prohibited as referred to in article 37 , Article 43, article 49 paragraph (2), article 51 paragraph (5), article 52, paragraph (1) or Section 58 subsection (1) is liable to a criminal prison the longest three years and a maximum fine of Rp criminal 4.000.000.000 RP (four billion dollars).
.,, (2) any Party who commits a prohibited activity referred to in article 8 was threatened with imprisonment of not longer than two years and a maximum fine of Rp criminal 1.500.000.000 entrance (one billion five hundred million rupiah).
.,, (3) any Party who does not fulfill the obligations referred to in article 50 paragraph (2) Article 50, paragraph (4), article 53, paragraph (2) of article 53 paragraph (4) of article 54, paragraph (2) or prohibited activities referred to in article 50 paragraph (3), or article 53 paragraph (3) is liable to a criminal confinement of not longer than one year and a maximum fine of Rp criminal 1,000,000,000 entrance (one billion dollars).

Article 74 the threat of imprisonment or criminal confinement and criminal fines as referred to in article 71, chapter 72, and article 73, applies also to each of the parties, whether directly or indirectly, participate, sent, or influencing others to do the prohibited activities referred to in those articles.

Article 75 Any parties that do not adhere to or impeding the implementation of the provisions referred to in Article 66 or article 68 criminal threatened with confinement of not longer than one year and a maximum fine of Rp criminal 1,000,000,000 b (one billion dollars).

Article 76.,, (1) a criminal offence as referred to in article 71, paragraph (3) of article 73 paragraph (3), and article 75 is a violation.
.,, (2) a criminal offence as referred to in article 71 paragraph (1), article 71, paragraph (2) of article 72, article 73 paragraph (1), and section 73 subsection (2) is a crime.
CHAPTER XI miscellaneous PROVISIONS Article 77 Bappebti, Bank Indonesia, and the capital market Supervisory Agency shall be obliged to convene a consultation and/or coordination in accordance with their respective functions in overseeing the activities of the Agency under the scope of kewenanganya, with regard to activities in the area of futures trading.

Article 78 every party who suffer losses as a result of a violation of the provisions of this Act and/or regulation implementation can demand compensation, either singly or together with others who have similar demands to the parties responsible for the infringement.

CHAPTER XII TRANSITIONAL PROVISIONS Article 79.,, (1) Before Bappebti formed on the basis of the provisions of this Act, then the duties, functions, authorities and Implementing Bodies carried out by Bappebti commodity exchanges as set forth in the applicable legislation.
.,, (2) before the Futures Clearing House was established on the basis of the provisions of this Act and/or regulations Implementing Agency implementation, commodity exchanges provide a business license to PT (Persero) clearing and guarantee of Stock Komioditi as set forth in applicable laws and regulations to carry out the duties, obligations and authorities of Futures Clearing House.
.,, (3) PT (Persero) clearing and guarantee of commodity exchanges, as referred to in paragraph (2), mandatory conform with the provisions of this Act and/or regulations of implementation within a period of not longer than one year after acquiring the business license.
CHAPTER XIII CLOSING PROVISIONS Article 80 with the enactment of this Act, all laws and regulations that have been issued prior to the enactment of this Act is declared to remain valid throughout is not contrary to this Act or has not been set up with the new provisions on the basis of this Act.

Article 81 of this Act comes into force from the date of promulgation.

In order to make everyone aware of it, ordered the enactment of this legislation with its placement in the State Gazette of the Republic of Indonesia.

.,, Enacted in Jakarta on December 5, 1997 the PRESIDENT of the REPUBLIC of INDONESIA SOEHARTO Promulgated in Jakarta on December 5, 1997 MINISTER of STATE SECRETARY of STATE of the REPUBLIC of INDONESIA, MOERDIONO

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