Board and the Financial Instituts only in order to anticipate the irregularity of the financial market and enforced within a limited time frame.
Section 6
(1) Placement of an Asset Acquired in the form of an investment in the form of a corporate debt and corporate debt as referred to in Article 4 of the paragraph (1) d and letter e must at least have a BBB rating or equivalent of the tipper effect company that has obtained permission from the Modal Market Supervising Board and the Finment.
(4) Further provisions of calculation of the minimum amount of risk-based capital as referred to in paragraph (1) and paragraph (3) are governed by the Regulation of the Chairman of the Modal Market Supervising Board and the Financial Instituts.
The Second Part
Allowed Assets
In The Form Of Investment
Section 4
(1) An Asset Acquired in the form of an investment should be placed in type:
a. Bank futures deposits, including deposit on call and time-running deposits less than or equal to 1 (one) month;
B. unnegotiable deposit certificate (non negotiable certificate deposit) on the Bank;
c. shares traded on the stock exchange;
D. corporate debt letter;
e. Corporate sukuk;
f. valuable letter published by the State of the Republic of Indonesia;
G. a valuable letter published by the country other than the State of the Republic of Indonesia;
h. valuable letter published by the Bank of Indonesia;
i. a valuable letter published by a multinational institution that the State of the Republic of Indonesia becomes one of its members or its shareholders;
J. refunds funds;
No, asset-agun effects published based on the collective investment effect of the asset agun effect;
I. real estate investment fund;
M. direct inclusion (an unrecorded stock in the stock exchange);
N. buildings with strata rights (strata title) or land with buildings, for investment;
O. financing through the mechanism of cooperation with other parties in the form of debt purchases (refinancing);
p. pure gold; and/or
Q. A loan secured with the right of dependents.
(2) The Asset Acquired in the form of an investment as referred to in paragraph (1) that can be placed abroad must be in type:
a. shares traded on the stock exchange;
B. corporate debt mail;
c. corporate sukuk;
D. a valuable letter published by the country other than the State of the Republic of Indonesia;
e. a valuable letter published by a multinational institution that the State of the Republic of Indonesia becomes one of its members or its shareholders;
f. The funds refunds; and/or
G. Direct inclusion (shares that are not listed on the stock exchange).
Section 5
(1) The assessment of the Acquired Assets in the form of an investment as referred to in Article 4 of the paragraph (1) must be performed with the following terms:
a. Bank futures deposits, including deposit on call and time-running deposits less than or equal to 1 (one) month, based on nominal value;
B. unnegotiable deposit certificate (non negotiable certificate deposit) on the Bank, based on cash value;
c. shares traded on the securities exchange, based on market value by using the last closing price information on the securities exchange;
D. a corporate debt letter, based on the market value set by the effect price rating agency that has obtained permission from the Modal Market Supervising Board and the Financial Institutionations or the securities pricing rating agency that has been recognized internationally;
e. sukuk corporate, based on the market value set by the effect price rating agencies that have obtained permission from the Modal Market Supervising Board and the Financial Institutioners or the internationally recognized effect price rating agencies;
f. valuable letter published by the State of the Republic of Indonesia, based on the market value set by the effect price rating agencies that have obtained permission from the Capital Market Supervising Board and the Financial Institution or the effect price rating agencies which is internationally recognized;
G. a valuable letter published by a country other than the State of the Republic of Indonesia, based on the market value set by the international recognized effect price rating agency;
h. a valuable letter published by the Bank of Indonesia, based on market value;
i. a valuable letter published by a multinational institution that the State of the Republic of Indonesia becomes one of its members or its shareholders, based on the market value set by the international recognized effect price rating agency;
J. reksa funds, based on net activa value;
No, asset-agun effects published under a collective investment contract of asset agun effect, based on market value;
I. real estate investment fund, based on market value;
M. direct inclusion (an unrecorded stock in the stock exchange), based on equity value;
N. building with strata rights (strata title) or land with buildings, for investment, based on the value set by the assessor institution listed on the authority or the value of the Jual Object Tax (NJOP) in the event of not being done assessment by the assessor institution;
O. financing through a cooperation mechanism with other parties in the form of debt purchases (refinancing), based on the remaining value of the debt after minus the allowance for unpaid receivables (net performing loan);
p. pure gold, based on market value; and/or
Q. A loan that is guaranteed by dependents, based on the remaining value of the loan.
(2) The provisions of the assessment of an Asset Acquired in the form of an investment as referred to in paragraph (1) may be amended with the Regulation of the Chairman of the Modal Market Supervisinger;">
Section 3
(1) The minimum risk-based Modal is the amount of funds needed to anticipate the risk of losses that may arise as a result of deviation in asset management and liabilities.
(2) The risk of a loss that may arise as a result of deviation in asset management and Liability as referred to in paragraph (1) consists of:
a. asset management failure;
B. an imbalance between asset current and Liability projections;
c. An imbalance between asset value and Liability in any type of currency;
D. the difference between the claim load and the claim load is expected;
e. uncucupan of premiums due to the difference in investment results assumed in the setting of premiums with the resulting investment results;
f. The inabi
(2) The Placement of an Asset Acquired in the form of an investment letter of a debt issued abroad by the Indonesian legal entity through a foreign legal entity specially established in order to publish a debt letter referred to, categorised as an investment in the country.
(3) Placement of an Asset Acquired in the form of a valuable letter issued by a multinational that the State of the Republic of Indonesia becomes one of the members or its shareholders as referred to in Article 4 of the paragraph (1) the letter i and Article 4 paragraph (2) of the letter of e denominated rupiah, categorized as domestic investment.
Section 9
(1) The restrictions on the Asset Acquired in the form of an investment as referred to in Section 4 are as follows:
a. investment of futures deposits including deposit on call and time-running deposits less than or equal to 1 (one) months and untraded certificates of deposits (non negotiable certificate deposit) on Banks, for each Bank are at least 15% (fifteen per hundred) of the investment amount;
B. investment in the stock traded on the stock exchange, for each emiten the highest 10% (ten per hundred) of the investment amount and the most high of 40% (forty per hundred) of the investment amount;
c. invest in a corporate debt letter, corporate sukuk, and a valuable letter published by a multinational institution that the State of the Republic of Indonesia becomes one of the members or its shareholders, for each emiten at most 15% (five One hundred per hundred) of the amount of investment and the most high of 50% (fifty per hundred) of the amount of investment;
D. The investment is a valuable letter issued by a country other than the State of the Republic of Indonesia for each publisher at least 10% (ten per hundred) of the investment amount;
e. The investment is a fund-fund, for each Investment Manager at 15% (fifteen per hundred) of the investment amount and the most high of 50% (fifty per hundred) of the investment amount;
f. Investment is an asset-agun effect issued under a collective investment contract. The asset's investment securities for each Investment Manager is 10% (ten per hundred) of the investment amount and the full 20% (twenty per million). a hundred) of the amount of investment;
G. investment fund real estate investment fund, for each Investment Manager tops 10% (ten per hundred) of the investment amount and the overall top 20% (twenty per hundred) of the investment amount;
h. The investment is a direct inclusion (an unrecorded stock in the stock exchange), all at best 10% (ten per hundred) of the investment amount;
i. investing in a building with strata rights (strata title) or land with buildings, for investment, all at best 10% (ten per hundred) of the investment amount;
J. Investment is financing through a cooperation mechanism with other parties in the form of refinancing for each party at least 10% (ten per hundred) of the investment and the highest of 20% (twenty-two). per hundred) of the amount of investment;
No, investment in pure gold is at most high 10% (ten per hundred) of the investment amount; and/or
I. The investment is a guaranteed loan with a dependents, all at best 10% (ten per hundred) of the investment amount.
(2) The Placement of an Asset Acquired in the form of an investment as referred to in paragraph (1) letter b, letter c, and letter e, the total height of 80% (eighty per hundred) of the investment amount.
(3) In terms of placement of an Asset Acquired in the form of an investment as referred to in paragraph (1) letter b, letter c, letter d, letter e, and the letter h is performed on an investment instrument abroad, the sum of the most high 20% (two Twenty-one hundred) of the amount of investment.
Section 10
(1) The total number of Enterprise investments placed on affiliated parties with the Company is at least 10% (ten per hundred) of the investment amount.
(2) The type of Enterprise investment placed on an affiliated party as referred to in paragraph (1) does not include direct inclusion (shares that are not recorded on the stock exchange).
(3) The total number of Enterprise investments placed on one affiliated party but one such party is not affiliated with the Company, at least 20% (twenty-one hundred) of the amount of investment.
(4) One party that is not affiliated with the Company as referred to in paragraph (3) is a group of companies that have affiliation to one affiliation with another.
(5) The Party (s) as defined in the paragraph (1) and the paragraph (4) of the parties either alone or together have an Affiliated relationship and/or other legal relationship with the other:
a. family relations due to marriage and offspring to the second degree both horizontally and vertically;
B. relations between the parties with the one-level employee under the board, the board member, or the board member of the board of the party;
c. The relationship between 2 (two) companies or more where there is one or more members of the board of directors or members of the same commissioner; and/or
D. The relationship between the companies and the major shareholders.
(6) Affiliate and/or other legal relations with other parties as referred to in paragraph (5) does not include the relationship due to the ownership or inclusion of capital by the State of the Republic of Indonesia.
Section 11
The amount of investment used as the basis of the calculation of the limitations on an Asset Acquired in the form of an investment as referred to in Article 9, Section 10 of the paragraph (1) and paragraph (3) represents the value of all forms of investment in question. in Article 4 per date of the financial position report whose assessment is based on the provisions as referred to in Article 5.
The Third Part
Allowed Assets
In The Form Not Investment
Section 12
Assets Allowed in non-investment forms must be in type:
a. cash and banks;
B. a direct closing premiums invoice, including the coinsurance premium bill that is a part of the Company;
c. coinsurance claim bill;
D. Reasurance invoice;
e. investment bill;
f. investment outcome bill;
G. loan to the policy; and/or
h. The building with the strata title (strata title) or the ground with the building, for its own use.
Section 13
The assessment of the Asset Acquired in the form not an investment as referred to in Article 12 sties exchange in the country where the investment manager is meant to be domiciled.
Section 8
(1) Placement of an Asset Acquired in the form of an investment in the form of a stake in the securities exchange, a corporate debt letter, and a corporate debt as referred to in Article 4 of the paragraph (2) letter a, letter b, and the letter c is traded. At the stock exchange, both in the country and abroad, and its emiters are foreign legal entities, categorized as investing abroad. ternational Security Policy
c. Coinsurance claims bill, based on the remaining value of the invoice with the age of invoice for the longest 2 (two) months calculated since the date of payment of the claim to the liability;
D. The reinsurance bill, based on the last two (two) months of the invoice, is calculatear of the invoice.
1) the dependents start for the polis with a single premium payment; or
2) Due to the terms of the terms of this Service, the terms of the IBM In exchange;
D. corporate debt letter;
e. Corporate sukuk;
f. valuable letter published by the State of the Republic of Indonesia;
G. a valuable letter published by the country other than the State of the Republic of Indonesia;
h. valuable letter published by the Bank of Indonesia;
i. a valuable letter published by a multinational institution that the State of the Republic of Indonesia becomes one re than one ranked company, the ranking used is the lowest rank.
(8) The Insurance Company is required to attach no evidence to the use of automatic reinsurance in the country as referred to in paragraph (4) and the proof of the Reinsurance rating abroad as referred to in the paragraph (6) in the program report Reasurance.
Section 23
In the event the Reinsurance Company refuses to provide automatic reinsurance support to the Insurance Company as referred to in Article 22 of the paragraph (2) and paragraph (3), the Reinsurance Company is intended to convey a gust of such renunciation letter to the Chairman of the Modal Market Supervising Board and the Financial Instituts with the reasons for his refusal to be at least 15 (fifteen) days after the rejection date.
Section 24
(1) The automatic reinsurance support as referred to in Article 22 of the paragraph (1) may be excluded in the event:
a. no reinsurance is willing to provide automatic reasurance support due to the specific risk characteristics of the insurance venture line;
B. The company will start marketing the new insurance venture line;
C. The Company markets the insurance products only to meet the policyholders ' requests for a comprehensive insurance package and do not market it independently; or
D. managed risk not exceeding its own retention capacity.
(2) The company is required to attach evidence of the cause not to be obtained or not in the name of an automated reinsurance as referred to in the paragraph (1) in the report of the reinsurance program.
Section 25
(1) The Company is required to obtain facultative reinsurance support in terms of:
a. The company does not have automatic reinsurance support for reasons referred to in Section 24 of the paragraph (1) letter a up to the letter c; or
B. Automatic reinsurance support is not sufficient for the risks accepted by the Company.
(2) The facultative reinsurance as referred to in paragraph (1) for the General Insurance Company is mandatory at least 2 (two) reinsurance within the country.
(3) facultative reinsurance support as referred to in paragraph (1) for the Compulsory Mental Insurance Company is obtained by at least 1 (one) reinsurance within the country.
(4) In the event of a facultative reinsurance support in the country as referred to in verse (2) and verse (3) are not obtained, facultative reinsurance support can be obtained from reasurment abroad.
(5) In the event of a facultative reinsurance support as referred to in paragraph (1) obtained from reasurment abroad, the Company is required to obtain the most less than a BBB rating or equivalent of a number of foreign-based prorevities. An internationally recognized rating company.
(6) In terms of re-ranking reinsurance abroad as referred to in verse (5) is published by more than one ranked company, the ranking used is the lowest ranking.
Section 26
(1) In the event of automatic reinsurance as referred to in Section 22 of the paragraph (1) and/or facultative reinsurance support as referred to in Article 25 of the paragraph (1) assessed by the Chief of the Bureau of Perinsurance, the Supervising Board of the Modal Market and the Institution Finance may endanger and/or aggravate the financial health condition of the Company or be able to make the Company do not carry out functions as an Insurance Company or as a Reinsurance Company, Chairman of the Modal Market Supervising Board and the Institution Finance may order the Company to change its support program The reinsurance that it has in order to comply with the condition of the Company, which is:
a. Facultative reinsurance changes into auto reinsurance, or vice versa;
B. Nonproportional reinsurance change becomes proportional reasurance, or vice versa; and/or
c. Other changes.
(2) The Company is required to execute the Chairman of the Supervising Board of the Modal Market and the Financial Institution as referred to in paragraph (1).
Section 27
The further provisions of automated reinsurance support as referred to in Section 22 and facultative reinsurance as referred to in Section 25 are governed by the Regulation of the Capital Market Supervising Board and the Financial Institutionaries.
The Second Part
My Own Retention
Section 28
(1) The Company is required to have its own retention for any managed risk according to the minimum self-retention limit and the maximum self-retention limit specified.
(2) The maximum self-retention limit and the maximum self-retention limit as referred to in paragraph (1) are mandatory based on a risk and loss profile made in an orderly, orderly, relevant, and accurate manner.
(3) The further provisions of its own retention limits as referred to in paragraph (1) and paragraph (2) are governed by the Regulation of the Chairman of the Modal Market and Financial Instituts.
BAB IV
ASSOCIATED INSURANCE PRODUCTS
WITH INVESTMENT
Section 29
(1) A Soul Insurance Company marketing an Insurance Product Associated with a mandatory investment separates the logging of investment funds and liabilities derived from the Insurance Products Associated With Investment with assets and liabilities sourced from other life insurance products.
(2) Assets sourced from the Insurance Products Associated With Investment are not taken into account as the Emphasized Asset.
Section 30
(1) The placement of an investment fund sourced from the Insurance Products Associated with the mandatory investment is conducted on:
a. Bank futures deposits, including deposit on calland time-running deposits less than or equal to 1 (one) month;
B. unnegotiable deposit certificate (non negotiable certificate deposit) on the Bank;
c. shares traded on the stockone of which is Reinsurance Company.
(3) automatic reinsurance support as referred to in paragraph (1) for the Compulsory Mental Insurance Company is obtained by at least one (one) Reinsurance Company within the country.
(4) In the event of automatic reinsurance in the country as referred to in paragraph (2) and the paragraph (3) is not obtained, the automatic reinsurance support can be obtained from reasurment abroad.
(5) Automatic reinsurance from abroad as referred to in paragra in question;
c. provision that the Kustodian Bank may not perform the instructions from the Company or any other party to perform the thawing, transfer, and surrender of deposits or valuables published by the State of the Republic of Indonesia which is used. as a Warranty Fund unless it has obtained the consent of the Minister or the official who got the shorer; and
D. The provision that the Bank of Kustodian is required to deliver a monthly report of the company's Warranty Fund, which is owned by the Company to the Chairman of the Board of Modal Market and Financial Institutions u.p. Head of the Bureau of Perinsurance for the slowest 15 months. the next most underload:
1) the name of the Warranty Fund owner Enterprise;
2) the type of Warranty Fund;
3) bilyet number and issuer Bank for deposits;
4) series of valuable letters published by the State of the Republic of Indonesia;
5) the nominal value of the Warranty Fund; and
6) the date of the due date.
The Third Part
The Warranty Fund changes
Section 39
(1) The establishment or addition of a Warranty Fund may be performed with the following terms:
a. a new placement of deposits and/or valuable mail issued by the State of the Republic of Indonesia as a Warranty Fund;
B. the placement of the deposit which was originally not a Warranty Fund into a Warranty Fund; and/or
c. The placement of a valuable letter published by the State of the Republic of Indonesia which originally was not a Warranty Fund into a Warranty Fund.
(2) The Company may make a Warranty Refund with the provisions as follows:
a. from the deposit into a valuable letter published by the State of the Republic of Indonesia or vice versa;
B. changing the term of the deposit on the Bank;
c. change the Bank where the deposit is placed; and/or
D. Exchange valuable letters published by the State of the Republic of Indonesia with valuable letters published by the other Republic of Indonesia.
(3) In the event the Company will perform the replacement of the Warranty Fund as referred to in paragraph (2), the Company shall first place the least of the replacement Guarantee Funds as much as the Value of Warranty Fund will be reimbursed.
(4) In the event of a Warranty Fund in the form of a valuable letter published by the State of the Republic of Indonesia which will be due, the Company is required to place first the new Warranty Fund at least as much as the value of a valuable letter is published by the State of the Republic of Indonesia which will be due in question, at least 1 (one) days before the due date.
Section 40
(1) The Minister may order the Company to add to the highest number of Warranty Funds of the amount of technical backups, in terms of:
a. The Company may not comply with the terms of the Solvency Level and are subject to restrictions on the limitations of the business activities; or
B. The Company has a Solvency Level of less than 40% (forty per hundred).
(2) The Company must increase the amount of Warranty Warranty as specified in paragraph (1) at most (one) months since it was ordered to increase the amount of Warranty Funds.
BAB VII
REPORTING
The Kesatu section
Report Drafting
Section 41
(1) The company is required to compose:
a. Non-consolidated annual financial reports for the period 1 January to 31 December based on the financial accounting standards applicable in Indonesia;
B. Non-consolidated annual financial reports for the period January 1 to December 31 under the perinsurance field;
c. Non-consolidated quarterly financial reports that expire on March 31, June 30, September 30, and December 31 under the perinsurance laws;
D. the report of the reinsurance program for the activities of the year is running;
e. The quarterly Warranty Funds report terminally ended on March 31, June 30, September 30, and December 31; and
f. The annual certificate reports for the period 1 January to 31 December.
(2) In the case of the Soul Insurance Company marketing the Insurance Products Associated With Investment, the report as referred to in paragraph (1) is mandatory plus:
a. the investment fund report over the Insurance Products Associated Investments annually for the January 1 to December period until December 31;
B. the investment fund report over the Insurance Products Attributed To The Investment quarterly expires on March 31, June 30, September 30, and December 31.
(3) The annual financial report as referred to in paragraph (1) the letter a and paragraph (2) of the letter a is required to be audited by an independent auditor.
(4) The annual financial report as referred to in paragraph (1) of the letter b shall receive an independent auditor's statement regarding the suitability of the report referred to in the perinsurance field.
(5) For the Company that organizes a portion of its efforts with the principle of sharia, the report as referred to in paragraph (1) letter b up to the letter e does not include reports related to the sharia unit of the Company referred to.
(6) The actuarial report as referred to in paragraph (1) the letter f is a report describing the estimated estimates of the Company ' s ability to fulfill its obligations in the future.
(7) The report as referred to in paragraph (1) the letter f must be signed by the Actuaries of the Company.
(8) For the General Insurance Company, the signing of the report as referred to in paragraph (7) can be carried out by the actuaries of an unaffiliated actuarial consulting company with the longest-running Company for its 2014 actuarial report.
(9) The annual actuarial report as referred to in paragraph (1) of the mandatory f (reviewed) letter and is assessed by the actuarial of an unaffiliated actuarial consulting company with the company at least 1 (one) times within 3 (three) years.
(10) The terms of the form and arrangement of the report as referred to in paragraph (1) letter b up to the letter f are governed by the Regulation of the Chairman of the Modal Market and Financial Instituts.
Section 42
In the report referred to in Article 41 of the paragraph (1), each asset and liabilities in a foreign currency unit is required to be presented in the rupiah currency based on the central curs va for the transfer of the Warranty Service after obtaining the consent of the Minister or the official authorized by the Company, the following is a license to the Company.
B. Custodian Bank ' s obligation to place funds obtained from the thawing of the Warranty Fund in the form of a valuable letter published by the State of the Republic of Indonesia which has been due to the form of a 1 (one) month-term deposit on the top bank Company name, in case the Company has not yet performed the replacement of the Warranty Fund which has been duelue set by the Bank of Indonesia at the date of the report.
The Second Part
Report announcement
Section 43
(1) The Company is required to announce a summary of the audited annual financial statements as referred to in Section 41 of the paragraph (3) and paragraph (4) at website The slowest company dated 30 April of the following year.
(2) The following terms apply to the following: (2) the following:
(3) The term of the announcement as referred to in paragraph (1) and paragraph (2) shall be mandatory until the next annual report or quarterly report is required.
(4) The provisions of the form and summary arrangement of the annual financial report as referred to in paragraph (1) and paragraph (2) are governed by the Regulation of the Chairman of the Modal Market and Financial Instituts.
Section 44
In the event that there are sections that need to be corrected in the announced report as referred to in Section 43 of the paragraph (1) and paragraph (2), the Company is required to correct that report and announce back to the
website the Company.
Section 45
(1) The Company is required to announce a summary of its audited annual financial statements as referred to in Article 41 of the paragraph (3) and paragraph (4) at least 1 (one) of the daily newspapers in Indonesia that have the most national circulation On April 30, the next year.
(2) The evidence of the announcement as referred to in paragraph (1) is required to be delivered to the Chief of the Bureau of Perinsurance, the Capital Market Supervising Board and the slowest Financial Institutions of 30 April.
(3) In terms of the 30th April is the holiday, the final deadline of the delivery of proof of the announcement as referred to in verse (2) is the first working day after the 30th April is referred to.
(4) The provisions of the form and summary arrangement of the annual financial report as referred to in paragraph (1) are governed by the Regulation of the Chairman of the Modal Market Supervising Board and the Financial Instituts.
The Third Part
Report delivery
Section 46
(1) The company is required to deliver:
a. the report as referred to in Section 41 of the paragraph (1) letter a, letter b, and the slowest letter f 30 of April the following year;
B. The reports referred to in Section 41 of the paragraph (1) of the letter c and the letter e most longer 1 (one) months after the end of the corresponding quarterly; and
c. report of the reinsurance program as referred to in Article 41 of the following paragraph d (1) the slowest letter of 15 January of the following year, to the Minister.
(2) The reports referred to in paragraph (1) of the letter a and the letter b are required to be supplemented by a statement of the direction of the board stating that it is responsible for the truth of the submitted report.
(3) In the event the last time limit of the report delivery as referred to in paragraph (1) is the holiday, the deadline for the delivery of the report is the first working day after the last time limit is referred to.
BAB VIII
FINANCIAL VISION PLAN
Section 47
Companies that do not meet the minimum Solvability Level targets as referred to in Section 2 of the paragraph (3):
a. It is required to deliver a financial health plan; and
B. is prohibited from handing out dividends or giving rewards in any form to the shareholders.
Section 48
In terms of the Company ' s Solvency Rate of less than 40% (forty per hundred), the Company:
a. levied the first and last warning;
B. required to deliver a financial health plan; and/or
c. prohibited from handing out dividends or giving rewards in any form to the shareholders.
Section 49
(1) The financial vision plan as referred to in Section 47 of the letter a shall be delivered to the Minister for the longest one (one) months since the Company ' s financial condition does not meet the criteria as referred to in Article 2 of the paragraph (3).
(2) The financial vision plan as referred to in paragraph (1), at least in the case of a specific financial measure that is accompanied by a specific period of time needed to meet the minimum Solvability Level target conditions as referred to in Article 2 of the paragraph (3).
(3) The financial vision steps as referred to in paragraph (2), at least include the following follow-up plans:
a. Asset restructuring and/or Liability;
B. add capital to the company;
c. subordination of subordination loans;
D. increased rate of premiums;
e. diversion of some or entire portfolio of dependents; and/or
f. It's a merger.
(4) The financial vision plan as referred to in paragraph (1) must be signed by the entire board of directors and the board of commissioners.
(5) The financial health plan as referred to in paragraph (1) must first be approved by the general meeting of the shareholders in the case of a vision plan in question containing a plan for the addition of a dictor capital or a plan to merge the body Work.
(6) The financial vision plan as referred to in paragraph (1) is required to obtain a statement of no objection from the Minister.
(7) In the event of a financial health plan as referred to in paragraph (2) as the Minister is not sufficient to address the problem, the Company is obliged to make improvements to the financial health plan.
(8) The Minister provides a statement of no objection to the financial health plan delivered by the Company with regard to the severity of the issues faced by the Company ' s longest 14 (fourteen) business days since the date His acceptance of the financial health plan is complete.
(9) If in the timeframe as referred to in paragraph (8) the Minister does not give a statement of no objection or response, the Company may carry out the financial health plan as referred to in paragraph (1).
Section 50
(1) The Company is required to submit to the Minister the report of the implementation of the financial health plan and the slowest monthly financial report the next 15 months.
(2) In the case of the 15th is the holiday, the final deadline of the delivery of the report's execution plan as referred to in paragraph (1) is the first working day after the 15th.
Section 51
(1) In the event the Company estimates the Company ' s Solvency Level will not be met in the term as it has been set forth in the financial-vision plan, the Company may make changes to the financial health care plan.
(2) The change in the plan of financial health as referred to in paragraph (1) must first obtain a statement of no objection from the Minister.
(3) The Minister provides a statement of no objection to the change of the financial health plan delivered by the Company's longest 14 (fourteen) business days from the date of the receipt of the change of the financial health plan. complete.
(4) If in the time frame as referred to in paragraph (3) the Minister does not give a statement of no objection or response, the Company may carry out the change in the plan of financial health as referred to in paragraph (1).
Section 52
The Minister may order the Company to perform a partial transfer or entire portfolio of dependents to other Companies, in terms of:
a. The Company may not comply with the terms of the Solvency Level as referred to in Section 2 of the paragraph (1) and are subject to restrictions on restrictions on business activities; or
B. The Company has a Solvency Level of less than 40% (forty per hundred) and is being subjected to warning.
BAB IX
The RUN
Section 53
(1) The Company is prohibited from restoring a subordinated loan or paying a dividend to shareholders if it will cause not to be complied with the minimum Solvability Level target provisions as referred to in Section 2 of the paragraph (3).
(2) The Company is prohibited from paying dividends to shareholders if it will lead to a reduced amount of its own capital under the provision of its own capital.
(3) The Company is prohibited from performing any form of transfer of assets to shareholders or affiliated parties with the Company except through a reasonable transaction (arm's length transaction).
Section 54
(1) The company is prohibited from placing:
a. investment on an affiliated party with the Company exceeding the limit as referred to in Article 10 of the paragraph (1);
B. investment on one affiliated party but one such party is not affiliated with the Company beyond the limitations as referred to in Article 10 of the paragraph (3); and
c. Overseas investment of the investment funds sourced from the Insurance Products Associated With Investment exceeds the limits as referred to in Article 32 of the paragraph (1).
(2) In terms of the amount of investment exceeding the limit as referred to in paragraph (1) due to the rise in the value of such investment, the Company is obliged to readjust the amount of the investment in accordance with the terms referred to in Article 10 of the paragraph (1) and the paragraph (3) as well as Section 32 of the paragraph (1) in the most prolonged period of three (three) months since the rise in the value of the investment is in question.
Section 55
(1) The Company is prohibited from having an investment abroad, except in the type of investment as referred to in Article 4 of the paragraph (2).
(2) The company is prohibited from placing investment abroad in excess of 20% (twenty per hundred) of the amount of investment.
(3) In terms of the number of overseas investments exceeding the limit referred to in paragraph (2) due to the increase in the value of such investment, the Company is obliged to readjust the amount of the investment according to the terms as it means to verse (2) for a period of three (3) months from the date of which an increase in the value of the investment is in question.
BAB X
CLOSING PROVISIONS
Section 56
At the time the Minister ' s Ordinance came into force:
a. Article 21, Section 22, Section 28, and Article 31 of the Finance Minister's Decision Number 422 /KMK.06/ 2003 on the Hosting of Insurance Companies and Reinsurance Companies;
B. Decision of Finance Minister Number 424 /KMK.06/ 2003 on the Health of Insurance Company and Reinsurance Company as it has been several times amended last with Regulation of Finance Minister Number 158 /PMK.010/2008;
D. Decision of the Finance Minister Number 504 /KMK.06/ 2004 on Financial Health for the Insurance Company Governing Body is Not Limited Perseroan,
revoked and declared not valid.
Section 57
(1) The Regulation of the Minister is not applicable to the Company that organizes its entire effort with the principle of sharia or for the sharia unit of the Company that organizes a portion of its efforts with the principle of sharia.
(2) The financial health provision for the Company that organizes its entire effort with the principle of sharia or for the sharia unit of the Company that organizes a portion of its efforts with the principle of sharia set up with the Regulation of Ministers It's
Section 58.
The Minister ' s Rule came into force on 1 January 2013.
In order for everyone to know it, order the invitational of the Minister's Regulation with its placement in the News of the Republic of Indonesia.
Set in Jakarta
on April 3, 2012
THE FINANCE MINISTER OF THE REPUBLIC OF INDONESIA,
AGUS D.W. MARTOWARDOJO
Promulgated in Jakarta
on April 3, 2012
MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA,
AMIR SYAMSUDIN
