SHEET COUNTRY
REPUBLIC OF INDONESIA
| No. 13, 1993 | (Explanation in Additional State Sheet of the Republic of Indonesia Number 3515) |
GOVERNMENT REGULATION OF THE REPUBLIC OF INDONESIA
No. 9 YEAR 1993
ABOUT
FOREIGN INVESTMENT COMPANY,
.,,, Menating: that to improve the climate of trying more attractive to foreign capital cultivation, it is seen as necessary to change the terms of the licensing term for foreign investment firms as set out in Government Regulation. Number 24 Year 1986;
.,, Given: 1. Section 5 of the paragraph (2) of the Basic Law of 1945;
., 2. Law No. 1 of 1967 on Cultivation Of Foreign Capital (state Sheet 1967 Number 1, Additional Gazette Number 2818) as amended by Law Number 11 of the Year 1970 (State Sheet of 1970 Number 46, Supplement State Sheet Number 2943);
., 3. Law No. 5 Year 1984 on Industry (State Sheet 1984 Number 22, Additional Sheet States Number 3274);
., 4. Government Regulation No. 24 Year 1986 concerning the Term of the Licence Company of Foreign Capital Cultivation (State Sheet 1986 Number 32, Additional State Sheet Number 3335);
. .5. Government Regulation No. 17 of 1992 on the Requirements of Owning Shares In Foreign Capital Cultivation (state Gazette, 1992 Number 36, Additional Gazette Number 3476) as amended by Government Regulation No. 7 1993 (state Gazette 1993 Number 9, Additional Gazette Number 3512);
DECIDED:
.,, Setting: REGULATION OF THE GOVERNMENT OF THE REPUBLIC OF INDONESIA ON THE CHANGE OF GOVERNMENT REGULATION NUMBER 24 OF 1986 ABOUT THE TERM OF THE PERMIT OF A FOREIGN CAPITAL PLANTING COMPANY.
Section 1
Changes the provisions of Section 1 and Section 3 of the Government Regulation No. 24 Year 1986 about the Term of the Foreign Capital Cultivation of the Company as follows:
1. The provisions of section 1 are changed so that it reads:
.,
" Article 1
Foreign Capital cultivation Company which has received Government Approval under Law No. 1 of 1967 on Foreign Capital Cultivation, granted capital planting permits for 30 (thirty) years to date since the company produced "It is commercially necessary for its permission."
2. The provisions of Article 3 are changed so that it reads:
.,
" Article 3
A capital raising permit for the company that conducts the expansion of its efforts as referred to in Article 2 is granted for up to 30 (thirty) years since the expansion of the venture began to be commercially produced as specified on the attempted expansion of the business. "
Section II
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 17 December 1993
PRESIDENT OF THE REPUBLIC OF INDONESIA
SUHARTO
Promulgated in Jakarta
on February 17, 1993
MENTERI/SECRETARY OF STATE
REPUBLIC OF INDONESIA
MOERDIONO
ADDITIONAL
STATE SHEET RI
| No. 3515 | (Explanation Of State Sheet 1993 Number 13) |
EXPLANATION
Above
GOVERNMENT REGULATION OF THE REPUBLIC OF INDONESIA
No. 9 YEAR 1993
ABOUT
GOVERNMENT REGULATION CHANGE NUMBER 24 IN 1986
ABOUT THE TERM OF THE PERMIT
FOREIGN CAPITAL CULTIVATION COMPANY
UMUM
.,, in order to create a more attractive climate for the cultivation of foreign capital regulated in the No. 1 Act of 1967 as amended by Law No. 11 of 1970, then the terms of the calculation of the term of the permit. The company's efforts to plant foreign capital in Government Regulation No. 24 of 1986 need to be refined.
.,, to those needs, then the term of a business permit taken into account since the establishment of the Corporate Law Board was changed to be reckoned with since the company was commercially produced.
SECTION BY SECTION
Section I
.,, Article 1
Under Article 8 of the Law No. 1 of 1967 any foreign capital cultivation permit is determined that the term does not exceed 30 (30) years. With this Government Regulation it is affirmed that the term of 30 (thirty) year is calculated from since the company is commercially produced as specified in its business permit.
Section 3
.,, Enlargement of a foreign capital planting company is given a period of 30 (thirty) years of effort calculated since the expansion of its business to be commercially produced as specified in the permit for expansion, with the understanding of the permit. The business that has been acquired is to be extended to the extent of its efforts to be performed within the term of the business permit that has been acquired.
Section II
.,, pretty clear.
