Regulation Of The Minister Of Finance Number 1440/fmd. 06/2013 2013

Original Language Title: Peraturan Menteri Keuangan Nomor 1440/PMK.06/2013 Tahun 2013

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here: http://peraturan.go.id/inc/view/11e44c5141e91b90b9c9313233343230.html

fnHeader (); The text is not in the original format.
Back NEWS REPUBLIC of INDONESIA No. 1231, 2013 the MINISTRY of finance. The takeover. Pt. Inalum. The termination. Investor. The REGULATION of the MINISTER of FINANCE of the REPUBLIC of INDONESIA NUMBER 144/FMD. 06/2013 ABOUT ORDINANCES IMPLEMENTING the TAKEOVER PT INDONESIA ASAHAN ALUMINIUM in ORDER to the COMPLETION of the TERMINATION of the AGREEMENT BETWEEN the GOVERNMENT of the REPUBLIC of INDONESIA'S PARENT by the INVESTOR for the PROJECT of the POWER PLANT and ASAHAN ALUMINUM with the GRACE of GOD ALMIGHTY the MINISTER of FINANCE of the REPUBLIC of INDONESIA, Considering: a. that the parent Agreement between the Government of Republic of Indonesia by The Investor for the project power plant and Asahan Aluminum (Master Agreement Between The Government Of The Republic Of Indonesia And The Investors For Hydroelectric And Asahan Aluminum Project) (Master Agreement) will expire on October 31, 2013 and the Government of the Republic of Indonesia has decided not to extend the Stem Agreement;
b. that appropriate the results of the negotiations of the parties, the implementation of the termination of the Agreement the parent performed with the takeover PT Indonesia Asahan Aluminium (PT. Inalum) through the transfer of ownership of shares (share transfer) the investor to the Government of Indonesia;
c. that the funding for the termination of the agreement the parent referred to in subparagraph b, has been provided in the budget of the State Expenditures and revenues of the fiscal year 2012, which has been placed in the parent's account Investments for the purchase of PT Inalum at the center of the Government's Investments, and the income and Expenditure of the State Budget fiscal year 2013;
d. that based on considerations as referred to in letter a, letter b, letter c, and in order to implement the provisions of article 18 paragraph (3) of the Act number 19 in 2012 about the budget of the State Expenditures and revenues of the fiscal year 2013 as amended by law number 15 Year 2013 about changes in the law number 19 in 2012 about the budget of the State Expenditures and revenues of the fiscal year 2013 need to set Regulations, the Minister of Finance on The implementation of the takeover PT Indonesia Asahan Aluminium in order to the completion of the termination of the Agreement between the Government of the Republic of Indonesia's parent by The Investor for the project of the power plant and Asahan Aluminum;
Remember: 1. Act No. 17 of 2003 about State Finances (State Gazette of the Republic of Indonesia Number 47 in 2003, an additional Sheet of the Republic of Indonesia Number 4286);
2. Act No. 1 of 2004 on the Treasury of the State (State Gazette of the Republic of Indonesia in 2004, an additional Sheet No. 5 of the Republic of Indonesia Number 4355);
3. Law number 19 in 2012 about the budget of the State Expenditures and Revenues by 2013 (State Gazette of the Republic of Indonesia Number 228 in 2002, an additional Sheet of the Republic of Indonesia Number 5361) as amended by law number 15 Year 2013 about changes in the law number 19 in 2012 about the budget of the State Expenditures and revenues of the fiscal year 2013 (State Gazette of the Republic of Indonesia by 2013 the number 108 Additional Sheets, the Republic of Indonesia Number 5426);
4. Regulation of the Minister of finance Number 242/FMD. 05/2012 about provisioning and Disbursement procedures for investment funds the Government for the purchase of PT Indonesia Asahan Aluminium;
Decide: define: REGULATION of the MINISTER of FINANCE on the IMPLEMENTATION of the TAKEOVER PT INDONESIA ASAHAN ALUMINIUM in ORDER to the COMPLETION of the TERMINATION of the AGREEMENT BETWEEN the GOVERNMENT of the REPUBLIC of INDONESIA'S PARENT by the INVESTOR for the PROJECT of the POWER PLANT and ASAHAN ALUMINUM.
Article 1 In this ministerial regulation is: 1. PT Indonesia Asahan Aluminium hereinafter PT Inalum is a joint venture formed by the Government of the Republic of Indonesia and the the Nippon Asahan Aluminum Co., Ltd., which was established in Jakarta, to build and operate the Asahan Project, according to the Agreement.
2. Nippon Asahan Aluminum Co., Ltd. hereafter NAA is a consortium have 58.88% (fifty-eight and eighty-eight per cent of semicolon) shares of PT Inalum, formed by twelve of the company the investor who purchased the law in the country of Japan.
3. Investment Fund is the overall funding provided in budget revenues and Expenditures of the State-owned stock in order to decongest the NAA at PT Inalum to the Government of the Republic of Indonesia, which consists of the purchase of PT Inalum investment fund and Fund Investment Financing the takeover PT Inalum.
4. The purchase of PT Inalum investment funds are funds that come from the budget of the State Expenditures and revenues of the fiscal year 2012 on the post the Government Investment has been placed in the parent's account Investments for the purchase of PT Inalum at the center of the Government's Investment.
5. The funds for financing the takeover PT Inalum Investment is funds that come from the budget of the State Expenditures and revenues of the fiscal year 2013 on post Investment Financing in the framework of the takeover PT Inalum.
6. The negotiating team of the Asahan Project hereinafter called Team talks were Negotiating Team referred to in the Asahan Project Presidential Decree Number 27 in 2010.
7. the Government Investment Center next abbreviated PIP is a government agency in the Ministry of finance to apply financial management patterns of Public Service Bodies (PPK-BLU), in charge of carrying out the operational authority in the management of Central Government investment in accordance with policies established by the Minister of finance and pursuant to applicable legislation.
Article 2 (1) Implementing the takeover PT Inalum through transfer of shares in PT NAA Inalum to the Government of the Republic of Indonesia, financed from the investment fund.
(2) investment fund referred to in subsection (1) consists of: a. Purchase of PT Inalum investment funds that have been placed in the parent's account Investments for the purchase of PT Inalum on PIP amounting to Rp RP 2.000.000.000.000 (two trillion dollars);
b. Funds Investment Financing the takeover PT RP 5.000.000.000.000 Rp Inalum (five trillion rupiah).
Article 3 (1) the Minister of finance as Treasurer General of the State is Financing Fund Budget Users Investment Takeover PT Inalum referred to in article 2 paragraph (2) letter b.
(2) in order to carry out the powers referred to in subsection (1), the Minister of finance appoints the Director General of the country's Wealth as a power user of budget Financing of the Investment Fund's takeover of PT Inalum.
(3) the Director General of the country's Wealth may appoint the leadership Echelon II Unit in the Directorate General environment to exercise the authorities of the Country's wealth as a power user of the budget referred to in paragraph (2).
Article 4 of the Ordinance endorsement DIPA in order the takeover PT Inalum carried out in accordance with the provisions of the legislation.

Article 5 (1) the payment of the takeover of the shares in PT Inalum NAA is conducted based on the results of the talks between the negotiating Teams with NAA.
(2) the results of the negotiations referred to in paragraph (1) contains at least the transfer of shares and the party receiving the payment.
Article 6 (1) Request the payment of a transfer of the shares belong to NAA in PT Inalum submitted by the Chairman of the negotiating Team to the Minister of finance in particular the Director-General of the country's Wealth by attaching the document Parent Agreement termination agreement and ditembuskan to the Director General budget and Director General of the Treasury.
(2) upon request as referred to in paragraph (1), the Director General of the wealth of the country conducting research and setting a quantity value payments will be charged on the Fund Investment Financing the takeover PT Inalum and PT Inalum Purchase investment funds referred to in article 2 paragraph (2).
(3) the Director General of the country's Wealth continues the request for payment as referred to in paragraph (2) to: a. Investment Financing Fund KPA Takeover PT Inalum to do the disbursement of financing Investment Pengambialihan PT Inalum to the payee according the results of the negotiations; and/b.  Head-PIP to deposit investment funds the purchase of PT Inalum to the payee according the results of the negotiations, according to the value set by the Director General of the country's Wealth.
(4) in case there is the rest of the investment fund the purchase of PT Inalum and no dispute about the value of the transfer of the shares of PT Inalum which must be resolved through the arbitration process, forwarding the letter of Director General of the country's Wealth as referred to in paragraph (3) contains also requests to Head-PIP depositing the remaining funds along with interest and/or giro account service the State Treasury.
Article 7 (1) Disbursement of financing the takeover PT Inalum Investment and remittance investment funds the purchase of PT Inalum made in United States dollars (USD).
(2) the filing of a petition for liquidation procedures by the KPA to KPPN Special loans and Grants is carried out in accordance with the provisions of the legislation.
Article 8 In the event of a dispute regarding the value of the transfer of the shares of PT Inalum which must be resolved through the process of arbitration, investment funds the purchase of PT Inalum which is still available in the parent Account investment funds for the purchase of PT Inalum on PIP used for payment the difference in the value of the stock transfer of disputed claims in accordance the arbitration ruling.

Article 9 (1) if the Government of Indonesia won the arbitration ruling, the purchase of PT Inalum investment fund referred to in article 8 is deposited back into the State Treasury's account with interest and/or giro services at the request of the Director General of the country's Wealth.

(2) if the arbitration ruling based on the Government are obliged to pay the difference between the value of the stock transfer of disputed claims, Director General of the wealth of the country delivered a request to the head-PIP to deposit from PT Inalum Purchase investment funds referred to in article 8 to the account of the payee accordingly the arbitration ruling.
(3) After the deposit referred to in subsection (2), the remainder of these funds and/or interest and/or services giro deposited to the account of the State Treasury.
Article 10 reporting and accountability for the use of investment funds is carried out in accordance with the provisions of the legislation.

Article 11 this Ministerial Regulation comes into force on the date of promulgation.

In order to make everyone aware of it, ordered the enactment of this Ministerial Regulation with its placement in the news of the Republic of Indonesia.

Established in Jakarta on October 23, 2013, the MINISTER of FINANCE of the REPUBLIC of INDONESIA, MUHAMAD CHATIB BASRI Enacted in Jakarta on 24 October 1995 the MINISTER of LAW and HUMAN RIGHTS REPUBLIC of INDONESIA, AMIR SYAMSUDDIN fnFooter ();