LEGISLATION REPUBLIC OF INDONESIA (UU) NUMBER 9 IN 1958 (9/1958)

ABOUT THE LOAN OF THE REPUBLIC OF INDONESIA FROM THE REPUBLICAN UNION

SOVIET SOCIALIST *) President of the Republic of Indonesia,

Draws: a. That has been made a Pokok Agreement about cooperation in

the economic and thehnik field between the Republic of Indonesia and the Union of Socialist Soviet Republics on 15 September 1956, as attached;

b. That in chapters 5, 6 and 7 of the Pokok Agreement the Government of the Union of Soviet Republics is willing to give a credit to a U.S. $100 million (one hundred million American dollars) to the Republic of Indonesia;

Given: a. Section 89 and 118 paragraph 1 of the Provisional Basic Law

Republic of Indonesia; b. Law No. 29 of 1957 (State of 1957

No. 101). With the approval of the People's Representative Council;

DECIDED: Set: The Act on the loans of the Republic of Indonesia from the Union of the Republic-the Social Soviet Republic.

Article 1 of the Finance Minister is given the power to hold a loan from the Government The Union of Soviet Socialist Republics was up to a total of $100 million (a hundred as well as American dollars) to finance the purchase of consumer goods, clothing, agricultural tools, tools, including ships, and for the establishment of the Soviet Union.

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The industries or other buildings to be determined and hosted by the Government of the Republic of Indonesia.

Article 2 To host the specified in section 1 of the Finance Minister is given the power to take Any action in the event of setting up and holding a loan that amounts to it shall not exceed the amount referred to in section 1, making the agreements related to it at the expense of the Government of the Republic of Indonesia and Give the power of the Government officials to make the arrangements. Here, set the terms of interest and interest and take all necessary action for the performance of the loan.

Article 3 of this Act begins to take effect on the day of promulgations so that everyone can know it, ordered an invitation of this Act with the placement in the State of the Republic of Indonesia. Established in Jakarta on 17 Pebruari 1958 Acting President of the Republic of Indonesia, SARTONO was promulred on 4 March 1958 of the Minister of Justice, G.A. MAENGKOM Minister of Finance, SOETIKNO SLAMET. Foreign Minister, SOEBANDRIO.

MEMORY EXPLANATION

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REGARDING THE LOAN OF THE REPUBLIC OF INDONESIA

OF THE SOCIALIST SOVIET REPUBLICS On September 15, 1956, it has signed a Pokok Agreement on cooperation in economic and engineering fields between the two countries. Republic of Indonesia and the Union of Soviet Socialist Republics. The agreement in addition to the provision of cooperation in the development of industrial companies and other companies needed for the development of the Indonesian economy, the willingness of the Union of Soviet Republics. Socialists to give credit to the amount worth US. $100 million to the Government of the Republic of Indonesia. In its most important nature in the Pokok Agreement is the possibility of obtaining credit for the purchase of goods necessary for the economic development of the country on the basis of the usual consideration. Regarding price, quality and time of surrender. The items intended to be made up of: power generation tools, road-making, mining. The intent of this Act is to obtain the consent of the People's Representative Council on the credit, in accordance with section 1 18 of the Provisional Basic Law.

EXPLANATION OF THE ARTICLE BY SECTION, due to the terms of the draft. This legislation has been sufficiently clear, so there is no need for an explanation of the article for the sake of another. State Gazette No. 20 in 1958. Known: Minister of Justice, G. A. MAENGKOM.

PRINCIPAL APPROVAL NOTES ON COOPERATION IN THE FIELD

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ECONOMY AND TECHNIQUES BETWEEN REPUBLIC OF INDONESIA AND SOCIALIST SOVIET REPUBLICS With the desire to develop economic and engineering cooperation between the two countries based on equal and mutually beneficial rights, the Government of the Republic of Indonesia. The Republic of Indonesia and the Government of the Union of Socialist Soviet Republics have achieved approval as follows:

Article 1 of the Government of the Union of Soviet Socialist Republics agrees to cooperate with the Government of the Republic of Indonesia in the building of industrial companies and other companies needed for development Republic of Indonesia. Many of the companies that will be established with the help of the Union of Socialist Soviet republics will be determined next on the basis of mutual consent between the two parties connected to the completion of the work. examination (exploration) and work-work inquiry (research) intended in section 2.

Article 2 At the request of the Government of the Republic of Indonesia, Union organizations of the Socialist Soviet republics by cooperation with Indonesian organizations began to conduct checkpoints and investigations into the United States. In 1957, to study and conquer the natural wealth of the Republic of Indonesia, among other sources-sources (receurce) coal, deposits of non-ferreus-metal ore, hydro-hstrik power sources, raw balians for companies. the building materials industry. The names of the works, the volume, and the time of the completion of the work, and the inquiry, and the inquiry, and the work of the two parties in the works, shall be determined in the agreement. additional will be held in accordance with this subject ' s approval. Based on the figures obtained from the checks and the investigations above, then the organization-the organization of the Union Socialist Soviet republics will provide the concerned advice (s) to the Indonesia.

Article 3 In addition to the work of the examination work and inquiry intended in section 2, then organization-

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Union organization Soviet Socialist Republics willing to carry out planning works related to the construction of industrial companies that must be established with the assistance of the Union of Socialist Soviet Republics, Handing over supplies and construction materials that could not be acquired in the Republic of Indonesia for those companies and also provided technical assistance in the construction of consultationsand supervision, montage, adjustment of supplies and also Provide technical support for the running of these companies. To this point the organization of the Union of Soviet Socialist Republics was sent to the Republic of Indonesia the experts and workers experienced for the term and in numbers to be approved by both parties. The organizations of the Union of Socialist Republics were willing to provide assistance in the education of Indonesian experts to work in companies that would be established with the help of the Union of Socialist Soviet Republics. This founding would be done both in Indonesia and in concerned companies in the Union of Soviet Socialist Republicspuchre. The bulk of the equipment and the construction materials to be submitted as well as providing technical assistance with the construction of the companies that are intended in chapter 1, each time it will be approved by the two. The parties and the parties are defined in the additional agreements to be held in accordance with this subject agreement.

Article 4 of the Union of Union organizations of the Socialist Soviet Republic shall submit to the Indonesian side Information and documentation The licenses required to produce the production are concerned-the companies established in accordance with the Pokok Agreement. The submission of such documentation is above and the licenses that are, required to produce production will be performed with .percuma, with the exception of the real fare of the organization-the organization of the Socialist Soviet republics in association. With the documentary he made it, which costs the Indonesian side to pay for it. The submitted documentation and licenses will be used solely to generate such production at the top in the Republic of Indonesia.

Section 5

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The Government of the Union of Soviet Socialist Republics grants the Government of the Republic of Indonesia credit to a number of U.S. $100 million (one hundred million American dollars) with interest payments of 2.5% a year and with the right to use the This credit for 8 years, to finance the planning work done by the organizations of the Union of Socialist Republics and to finance the equipment and construction materials handed over by the Union. Soviet Socialist Republics to the Republic of Indonesia for The companies that will be established with the assistance of the Union of the Socialist Soviet republics in accordance with this principal agreement.

Article 6 of the Government of the Republic of Indonesia will pay back the credit given to him according to section 5 Within 12 years that followed the year of the use of the credit section, each year with the same amount of money (equal installments), starting 3 years after the date of the use of the credit section. The interest of the credit will be calculated from the date the use of the credit section is concerned and will be paid in the first quarter of the year following the year for which interest is calculated.

Article 7 Payment back credits and payments The interest that is connected to the credit will be made by the Government of the Republic of Indonesia with the handover of goods by Indonesia to the Union of Socialist Republics of the Soviet Socialist Republics or with a transferable transfer and also with the value-added. free-convertible that will be approved by the State Bank of the Union Repuba-republic of the Socialist Soviet (The State Bank of the Union of the Soviet Socialist Republics) and the Bank of Indonesia. Three months before the coming year of repayment of the credit and the payment of interest in the credit, then both parties will agree to a list of the goods, as well as the price, and the timing of the sum of the goods. For every year to come. In repayment of credit and interest in relation to that credit, with the pound sterling transferable or a free-convertible valuation, then a pound sterling or free-convertible valuation and U.S. dollars will be conducted according to the parity of the payment date

Article 8

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To oversee usage and repayment of credit and for interest payments related to that credit, then State Bank of the Republic of Socialist Republics and the Bank of Indonesia will open a special credit account and designation with a technical procedure to use the accounts associated with credit repayment.

Article 9

The Government of the Union of Republics of the Socialist Soviet republics and the Government of the Republic of Indonesia agrees to cooperate as well In a field of atomic energy for the purpose of peace, among other things, The use of radioactypic izotop in medicine, general science and engineering as well as in educating Indonesian experts on the use of atomic power. For these purposes the organizations of the Union Socialist Soviet republics would accept Indonesian experts to add to its expertise in this field in numbers and for a term that would be approved by both parties

Article 10 Ongkos-fare of the Union of the Socialist Republics-the Socialist Soviet republics that relate to the delivery of experts and experienced workers from the Union of Socialist Soviet Republics into the Republic of Indonesia and the postage related to the The acceptance of the Indonesian nation in the Union of Soviet Socialist Republics to get practice education (practical training) in the company-companies and factories, as well as to add expertise as intended in section 9 will be paid by the Government of the Republic of Indonesia in the currency of Indonesian rupiah with The income of the amount of money concerned that the special account will be opened by the State Bank of the Union of Socialist Republics of the Bank of Indonesia on behalf of the Union organizations of the Socialist Soviet republics which provide services (service-- The service. The sum of the money from that account can be used for the usual fare of the Union organizations of the Socialist Soviet republics of the Republic of Indonesia and also for payment-another payment to be approved by the State Bank of the Union. Republic of the Soviet Socialist Republic and the Bank of Indonesia.

Article 11 The completion of the examination works, the inquiry and planning intended by this principal agreement, the submission of supplies and materials construction, delivery

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The, experts of the Union of Socialist Soviet Republics into the Republic of Indonesia and the acceptance of the Indonesian nation in the Union of Soviet Socialist Republics, will be carried out by Indonesian authorities, who are empowered by the Indonesian government. For that purpose. In the contracts, they will be specified in detail, the magnitude (volume), price, time and other terms of the submission of the equipment and the construction materials, service-services intended by the principal agreement. Here. Contracts for the surrender of the equipment and construction materials must be closed within 5 years, accounting for the date of this subject's approval. This subject agreement shall be passed and entered into force on the exchange charter date of attestation to be held in Moscow. It was created and signed in Jakarta on 15 September 1956 in the original two, each written in both Indonesian and Russian, both of which were equal in value. The Deputy Power Full Powerful Deputy of the Government of the Republic from the Government of the Union of Republik-Indonesia, Soviet Socialist republic, Dr. SOEBANDRIO J.F. SEMICHASNOV. *) Approved D.P.R. at the 17th open plenary meeting of the 5th

Brothers of 1958, on Wednesday, P. 228/1958. Excerpts: SHEET COUNTRY AND EXTRA SHEET COUNTRY

IN 1958 HAVING REPRINTED THE SOURCE: LN 1958/20; TLN NO. 1550

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