THE DECISION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA 48 YEAR 1992

ON THE PASSAGE OF THE PROPOSED THIRD AMENDMENT OF THE ARTICLES OF AGREEMENT OF THE

INTERNATIONAL MONETARY FUND

WITH THE GRACE OF THE ALMIGHTY GOD

THE PRESIDENT OF THE REPUBLIC OF INDONESIA, DRAWS: A. that change (amendment) of the International Monetary Fund as approved by the Board of Governors of the International Monetary Fund is intended to embody the international monetary system. good;

b. that in connection with that, and in accordance with Amanat

President of the Republic of Indonesia to the Chairman of the People's Representative Council of the Republic of Indonesia to the Chairman of the People's Representative Council Gotong Royong No. 2826 /HK/1960 dated 22 August 1960 on The creation of the Agreement with the Other Country, is seen as necessary to validate the Amendment with the Presidential Decree;

Given: 1. Section 4 of the paragraph (1) and Article 11 of the Basic Law of 1945;

2. Law Number 9 Year 1966 on the Membership Return of the Republic of Indonesia in the International Monetary Fund (International Monetary Fund) and the International Bank for Reconstruction and Development (International Bank for Reconstruction and Development) (State Sheet Of 1966 Number 36) as amended by Law No. 2 of 1967 (State Gazette 1967 Number 2, Additional Gazette State Number 2819);

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3. Decision Of The President Of The Republic Of Indonesia Number 26 Of 1969

on Ratification Of The Participation Of Indonesia In The Facility Special Drawing Rights (1969 State Sheet Number 10, Additional Gazette Number 2885);

4. Decision of the President of the Republic of Indonesia No. 41 Year 1976

on the Concern Of The Declaration Of Approval Of The Indonesian Republic Over The Second Amendment To The International Monetary Fund Agreement (state Sheet Of 1976 Number 47);

DECIDED:

STIPULATING: THE DECISION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA ON

ENACTMENT OF THE PROPOSED THIRD AMENDMENT OF THE ARTICLES OF AGREEMENT OF THE INTERNATIONAL MONETARY FUND.

Article 1

Passes Proposed Third Amendment of the Articles of Agreement of the International Monetary Fund which has been approved by the International Monetary Fund whose original copy of the manuscript is in English language as attached to this President's Decision.

Article 2 of this President's Decision begins to apply to the specified date. In order for everyone to know, order the invitation of the Presidential Decree with its discoverer in the State Sheet of the Republic of Indonesia.

Set in Jakarta on 28 August 1992 PRESIDENT OF THE REPUBLIC OF INDONESIA ttd SUHARTO

Updated in Jakarta on 28 August 1992 MENTERI/SECRETARY OF STATE

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REPUBLIC OF INDONESIA ttd. MOERDIONO

Proposes Third Amendment of the Article of Agreement

of the International Monetary Fund The Governments on whose behalf the present Agreement is signed agree as follows: 1. The text of Articles XXVI, Section 2 shall be amended to read as follows: " (a) If a member fails to fulfill any of its obligations under this Agreement,

the Fund may declare the member ineligible to use the general resources of the Fund. Nothing in this Section shall be deemed to limit the provisions of Article V, Section 5 or Article VI, Section 1.

(b) If, after the expiration of a reasonable period following a declaration of

ineligibility under (a) above, the member persists in its failure to fulfill any of its obligations under this Agreement, the Fund may, by a known percent majority of the total voting power, suspend the voting rights of the members. During the period of the suspension, the provisions of Schedule L shall apply. The Fund may, by a terminated percent majority of the total voting power, terminate the suspension at any time.

(c) If, after the expiration of a reasonable period following a decision of

suspension under (b) above, the member persists in its failure to fulfill any of its obligations under this Agreement, that member may be required to withdraw from membership in the Fund by a decision of the Board of Governors carried by a majority of the Governors having eighty-five percent of the total vote power.

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(d) Regulations shall be adopted to ensure that before action is taken against any member under (a), (b), or (c) above, the member shall be informed in reasonable time of the complaint against it and given an adequate opportunity for stating. its case, both orally and in writing. "

2. A new Schedule L shall be added to the Articles, to read as follows:

Schedule L

Suspension of Voting Rights In the case of a suspension of voting rights of a member under Article XXVI, Section 2 (b), the following provisions provisions shall apply: 1. The member shall not:

(a) participate in the adoption of a proposed amendment of this Agreement, or be counted in the total number of members for that purpose, except in the case of an amendment requiring acceptance by all members under Article XXVIII (b) or pertaining exclusively to the Special Drawing Rights Department;

(b) appoint a Governor or Alternate Governor, appoint or participate in the

appointment of a Councillor or Alternate Councillor. or appoint, elect, elect, elect, elect, elect, elect, elect, elect, elect, elect, elect, elect, elect, elect, elect participate in the election of an Executive Director.

2. The number of votes allotted to the member shall not be cast in any organ of the

Fund. The shall not be included in the calculation of the total voting power, except for purposes of the acceptance of a proposes amendment exclusively to the Special Drawing Rights Department.

3. (a) The Governor and Alternate Governor appointed by the member shall cease to

hold office.

(b) The Councillor and alternate Councillor appointed by the member, or in whose appointment the member has taken a letter, shall cease to hold office, provided that, if such Councillor was entitled to cast the number of votes allotted to other members whose voting rights have not been suspended, another Councillor and Alternate Councillor shall be appointed by such other members under schedule. D, and, pending such appointment, the Councillor and Alternate Councillor shall continue to hold office, but for a maximum of thirty days from the date of the suspension.

(c) The Executive Director appointed or elected by the member,, or in whose

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election the member has, shall cease to hold office, unless such Executive Director was entitled to cast the number of votes allotted to other members whose voting rights have not been suspended. In the latter case:

(i) if more than ninety days remain before the next regular election of

Executive Directors, Another Executive Director shall be elected for the remainder of the term by such other members by a majority of the votes cast; pending such election, the Executive Director shall continue to hold office, but for a maximum of thirty days from the date of suspension;

(ii) if not more than ninety days remain before the next regular election of

Executive Directors, the Executive Director shall contible to hold office for the remainder of the term.

4. The members shall be entitled to send a representative to attend any meeting of the Board of Governors, the Council, or the Executive Board, but not any meeting of their committees, when a request made by, or a matter particularly effecting, the members of the board. under consideration. "

3. The following shall be added to Article XII, Section 3 (i):

" (v) When the suspension of the voting rights of a member is terminated under Article XXVI, Section 2 (b), and the member is not entitled to appoint an Executive Director, the member may. agree with all te members that have elected an Executive Director that the number of votes allotted to that member shall be cast by such Executive Director, provided that, if no regular election of Executive Directors has beep conducted during the period of the suspension, the Executive Director in whose election the member had prior to the suspension, or his successor elected in accordance with paragraph 3 (c) (i) of Schedule L or with (f) above, shall be entitled to cast the number of votes allotted to the member. "The election of the executive director entitled to cast the number of votes allotted to the member."

b. The following shall be added to paragraph 5 of Schedule D:

" (f) When an Executive Director is entitled to cast the number of votes allotted to a member pursuant to Article XII, Section 3 (i) (v), the Councillor appointed by the group whose members elected such Executive Director shall be entitled to vote and cast the number of votes allotted to such members. The members shall be deemed to have themselves in the appointment of the Councillor entitled to vote and cast the number of votes allotted to the members. "

Quote: STATE SECRETARIAT OF STATE RELEASE 1992

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