SHEET COUNTRY
REPUBLIC OF INDONESIA
| No. 70, 2003 | (Explanation in Additional Article of the Republic of Indonesia No. 4297) |
CONSTITUTION OF THE REPUBLIC OF INDONESIA
No. 19 YEAR 2003
ABOUT
THE STATE-OWNED BUSINESS AGENCY
WITH THE GRACE OF THE ALMIGHTY GOD
PRESIDENT OF THE REPUBLIC OF INDONESIA,
.,, weighed: a. that the State-owned Business Agency is one of the perpetrators of economic activity in the national economy based on economic democracy;
., b. That the State-owned entity has an important role in organizing the national economy in order to realize the welfare of society;
., c. that the implementation of the role of the State-Owed Business Agency in the national economy to realize the welfare of society is not yet optimal;
., d. that to optimize the role of the State-owned Enterprises Agency, its management and supervision must be done professionally;
., e. that the laws governing the State-owned Enterprises are no longer in compliance with the economic development and the world's growing business, both nationally and internationally;
., f. that under consideration as intended in the letter a, the letter b, the letter c, the letter d, and the letter e, need to be formed by the Law of the State-owned Enterprises;
.,, Given: 1. Section 5 of the paragraph (1), Article 20, Article 23 of the paragraph (4), and Article 33 of the Basic Law of 1945;
., 2. The Decree of the People's Consultative Assembly of the Republic of Indonesia Number IV/MPR/1999 on the Big Line of the State Haluan Year 1999-2004;
., 3. Law No. 1 of 1995 on the Limited Perseroan (State Sheet of the Republic of Indonesia of 1995 Number 13, Additional Gazette State Number 3587);
., 4. Law Number 17 Year 2003 on State Finance (State Sheet Indonesia Year 2003 Number 47, Additional Gazette State Number 4286);
With Mutual Consent between
REPRESENTATIVES OF THE PEOPLE ' S REPUBLIC OF INDONESIA
and
PRESIDENT OF THE REPUBLIC OF INDONESIA
DECIDED:
Establish: LEGISLATION ON THE STATE ' S GOVERNING BODY.
BAB I
UMUM PROVISIONS
Section 1
In this Act, it is referred to by:
., 1. The State-owned Enterprises, which is then called the BUMN, is an entire business entity or most of its capital is owned by the state through its direct inclusion of the wealth of the segregated state.
., 2. The company Perseroan, later called Persero, is a limited liability-based BUMN whose capital is divided into shares that are all or at least 51% (fifty-one percent) owned by the State of the Republic of Indonesia which is the largest in the country. The main objective is to pursue
., 3. The Perseroan Open Company, which is next called Persero Open, is Persero whose capital and number of shareholders meet certain criteria or Persero conduct the general offering in accordance with the laws in the field Capital markets.
., 4. The General Company, which is subsequently called Perum, is the state-owned BUMN, which is wholly owned by the state and is not divided into shares, which aim for the general benefit of the provision of goods and/or services that are of high quality and pursuit. benefits based on the company's management principles.
. .5. A minister is a minister appointed and/or authorized to represent the government as a shareholder of the state in Persero and the capital of Perum with regard to the laws.
., 6. The Minister of Technical Affairs is the minister who has the authority to regulate the policy of sector where the BUMN conducts business activities.
., 7. The Commissioner is a Persero organ in charge of supervising and advising the Board of Directors to perform Persero's activities.
., 8. The Board of Trusts is an organ of Perum in charge of supervising and advising the Board of Directors to perform Perum's activities.
., 9. The Board of Directors is a BUMN organ responsible for the business of the BUMN for the sake of the interests and purposes of the BUMN, as well as representing the BUMN both inside and outside the court.
., 10. The wealth of the countries separated is the country's wealth derived from the State Budget and Shopping Budget (APBN) to serve as the inclusion of state capital on Persero and/or Perum as well as other limited-service companies.
., 11. A restructuring is an effort made in the framework of the BUMN vision which is one of the strategic steps to improve the internal conditions of the company to improve performance and improve the value of the company.
., 12. Privatization is the sale of Persero shares, both in part and the whole, to the other in order to improve the company's performance and value, increase the benefits to the state and society, and expand ownership of shares by the public.
., 13. The Shareholders ' General Meeting, subsequently called the RUPS, is the organ of Persero which holds the highest power in Persero and holds all powers that are not submitted to the Board of Directors or Commissioners.
Section 2
(1) The intent and purpose of the founding of BUMN is:
.,
., a., a. providing donations to the development of the national economy in general and the acceptance of the country in particular;
B. chasing benefits;
., c. organizes general expediency in the provision of high quality goods and/or services sufficient for the fulfillment of the life of many people;
., d. become a pioneer of business activities that are not yet to be implemented by the private sector and cooperatives;
., e. actively provide guidance and assistance to weak economic group entrepreneurs, cooperatives, and communities.
.,, (2) The activities of the BUMN must conform to the intent and purpose as well as not in conflict with the laws, public order, and/or decency.
Section 3
Against the BUMN applies this Act, the base budget, and the provisions of other laws.
Section 4
(1) The Modal BUMN constitutes and is derived from the wealth of the separated countries.
.,, (2) The inclusion of a country capital in the framework of the establishment or inclusion of a BUMN source is derived from:
., a., a. State Revenue and Shopping Budget;
B. backup capitalization;
c. Other sources.
.,, (3) Any inclusion of a state capital in the framework of the establishment of a BUMN or a limited liability fund derived from the State Budget and Shopping Budget is set out with Government Regulation.
.,, (4) Any change in the inclusion of a country capital as referred to in paragraph (2), whether in addition or subtraction, including changes in the country ownership structure over Persero shares or limited liability, is set with
Government Regulation.
.,, (5) are excluded from the provisions referred to in paragraph (4) for the addition of the country capital inclusion derived from the reserve capitalization and other sources.
.,, (6) Further terms on the manner of inclusion and capital of state capital in the framework of establishing or inclusion in a BUMN and/or limited liability that is partially owned by the state, governed by the
Government Regulation.
Section 5
(1) The BUMN business is carried out by the Directors.
., (2) the Directors are full responsibility of the BUMN business for the benefit and purposes of the BUMN as well as representing the BUMN, both inside and outside the court.
.,, (3) In carrying out its duties, the members of the Board of Directors must comply with the basic budget of the BUMN and the laws as well as are required to carry out the principles of professionalism, efficiency, transparency, independence, accountability, accountability, and accountability. As well as the diamonds.
Section 6
(1) The supervision of the BUMN is carried out by the Commissioner and the Supervising Board.
.,, (2) The Commissioner and the Supervising Board are fully responsible for the supervision of the BUMN for the interests and purposes of the BUMN.
.,, (3) In carrying out its duties, the Commissioner and the Supervising Board must comply with the BUMN Basic Budget and the provisions of the laws as well as mandatory exercise principles of professionalism, efficiency, transparency, self-reliance, Accountability, accountability, and fairness.
Section 7
The members of the Board of Directors, the Commissioner and the Supervising Board are prohibited from taking personal advantage either directly or indirectly from the activities of the BUMN in addition to its authorized income.
Section 8
.,, (1) Members of the Board of Directors, Commissioners, and Supervising Board are not authorized to represent BUMN, if:
.,
., a., a. the case in front of the court between the BUMN and the members of the Board of Directors or the Commissioner or the Supervising Board concerned; or
., b. A member of the Board of Directors or a Commissioner or Supervising Board is in the interest of BUMN's interests.
.,, (2) In the base budget set to represent the BUMN if there is a state as it is referred to in paragraph (1).
.,, (3) In terms of the base budget does not specify the provisions as referred to in paragraph (2), the RUPS raises 1 (one) person or more shareholders to represent Persero, and the Minister raises 1 (one) person or more to represent Perum.
Section 9
BUMN is made up of Persero and Perum.
BAB II
PERSERO
The First Part
The establishment of
Section 10
., (1) The establishment of Persero was proposed by the Minister to the President accompanied by a basis of consideration after being studied together with the Technical Minister and the Minister of Finance.
.,, (2) The implementation of the establishment of Persero is carried out by the Minister with regard to the provisions of the rules of the negotiations.
Section 11
Against Persero applies any provision and principles that apply to limited liability as set out in the Act No. 1 of 1995 on the Limited Perseroan.
The Second Part
Intent and Purpose
Section 12
The intent and purpose of Persero ' s founding is:
., a., a. provide high quality goods and/or services strong and powerful saing;
B. chasing benefits to increase the company ' s value.
The Third Part
The organ
Section 13
The Persero organs are RUPS, Directors, and Commissioners.
The Fourth Part
The RUPS authority
Section 14
.,, (1) The Minister acts as RUPS in terms of all Persero shares owned by the state and acts as a shareholder in Persero and limited liability in case not all its shares are owned by the state.
.,, (2) The Minister may authorize the right of substitution to the individual or legal entity to represent it in the RUPS.
., (3) The Party who receives the power as referred to in paragraph (2), must first get the Minister ' s consent to take a decision in the RUPS regarding:
., a., a. changes in capital amount;
B. basic budget changes;
c. profit-use plan;
., d. incorporation, smelting, takeover, separation, and the dissolution of Persero;
e. investment and long-term financing;
f. Persero cooperation;
G. the creation of a subsidiary or inclusion;
h. diversion of actives.
The Fifth Part
Persero directors
Section 15
(1) The service and termination of the Directors is carried out by RUPS.
.,, (2) In terms of the Minister acting as RUPS, the appointment and dismissal of the Directors is set by the Minister.
Section 16
.,, (1) Members of Directors are appointed based on the consideration of expertise, integrity, leadership, experience, honest, good behavior, and high dedication to advancing and developing Persero.
.,, (2) The membership of the Board of Directors is carried out through the mechanism of the feasibility test and the patchiness.
.,, (3) The candidate of a member of the Board of Directors who has been declared a eligibility test and a mandatory propriety sign a management contract before it is assigned its appointment as a member of the Board of Directors.
.,, (4) The tenure of the Board of Directors is designated 5 (five) years and may be reappointed for 1 (one) times the term.
.,, (5) In terms of the Board of Directors consisting of more than a member, one of the members of the Board of Directors is appointed as the lead director.
Section 17
Members of the Directors can at any time be dismissed based on the RUPS decision by mentioning the reason.
Section 18
Further provisions on the terms and conditions of the appointment and dismissal of the Board of Directors are set up with the Minister ' s Decision.
Section 19
In carrying out its duties, the members of the Directors are required to devote your power, mind and attention to the task, duty, and achievement of Persero goals.
Section 20
With regard to the special nature of each Persero, the Directors can lift a company secretary.
Section 21
.,, (1) The board of directors is required to set up a plan for a long term plan which is a strategic plan that contains the objectives and objectives of Persero that are to be achieved within the term of 5 (5) years.
.,, (2) The draft long-term plan that has been signed together with the Commissioner is delivered to the RUPS to obtain the attestation.
Section 22
.,, (1) The board of directors is required to prepare a design plan and budget of a company that is the annual definition of a long-term plan.
.,, (2) The board of directors is required to submit a draft of the company ' s work plan and budget to RUPS to obtain assent.
Section 23
.,, (1) Within 5 (five) months after the Persero book year is closed, the Directors are required to submit an annual report to the RUPS to obtain assent.
.,, (2) The annual report as referred to in paragraph (1) is signed by all the members of the Board of Directors and Commissioners.
., (3) In that case there is a member of the Board of Directors or the Commissioners not signing the annual report as referred to in paragraph (2), it must be mentioned the reason in writing.
Section 24
Further provisions on long-term plans, corporate work and budget plans, the annual report and Persero 's annual calculations are set up with the Minister' s Decision.
Section 25
Members of the Directors are prohibited from calling me a double post as:
., a., a. A member of the Board of Directors of the BUMN, an area's business entity, a private property agency, and other positions that may lead to a clash of interests;
., b. other structural and functional offices on the agency/central government agencies and regions; and/or
c. Other positions conform to the provisions of the laws.
Section 26
Directors are obliged to maintain the meeting treatises and host the Persero bookkeeping.
The Sixth Part
Commissioner
Section 27
(1) The commissioning and dismissal of the Commissioners is carried out by RUPS.
.,, (2) In terms of the Minister acting as RUPS, the appointment and dismissal of the Commissioner is set by the Minister.
Section 28
.,, (1) The Commissioners are appointed under consideration of integrity, dedication, understanding of corporate management issues related to one of the management functions, have adequate knowledge in the field of Persero business, as well as can provide sufficient time to perform its tasks.
.,, (2) Commissioning Commissioners must be set in such a way that allowing decision making can be done effectively, precise and fast, as well as being able to act independently.
.,, (3) The tenure of the Commissioners is set 5 (five) years and may be reappointed for 1 (one) times the term.
.,, (4) In the event the Commissioners consist of more than a member, one of the Commissioners appointed as the principal commissioner.
.,, (5) Commissioning of the Commissioners is not in time with the appointment of members of the Directors, except the appointment for the first time at the time of the establishment.
Section 29
Commissioners at any time can be dismissed based on the RUPS decision by mentioning the reason.
Section 30
Further provisions on the terms and conditions of the appointment and dismissal of the Commissioner are governed by the Ministerial Decision.
Section 31
The commissioner is tasked with overseeing the Directors in the run of Persero affairs as well as providing advice to the Directors.
Section 32
.,, (1) In the base budget may be assigned a grant of authority to the Commissioner to grant consent to the Board of Directors in performing certain legal deeds.
.,, (2) Based on the base budget or the RUPS decision, the Commissioner may perform the Persero business action in certain circumstances for a certain period of time.
Section 33
Members of the Commissioners are prohibited from calling me a double post as:
., a., a. Members of the Board of Directors of the BUMN, regional-owned business entities, private property entities, and other posts that may lead to a clash of interests; and/or
B. other posts in accordance with the provisions of the laws.
The Seventh Part
Open Persero
Section 34
For Persero Open applies to the provisions of this Act and the No. 1 Act of 1995 as long unregulated in the laws of the capital market.
BAB III
PERUM
The First Part
The establishment of
Section 35
.,, (1) The establishment of Perum is proposed by the Minister to the President accompanied by a consideration basis after being studied together with the Technical Minister and the Minister of Finance.
.,, (2) Perums established as referred to in paragraph (1) obtain the status of the legal entity since the promulgations of the Government Regulation on its establishment.
., (3) Further provisions regarding the establishment, coaching, dealing, and supervision of Perum are set up with Government Regulation.
The Second Part
Intent and Purpose
Section 36
.,, (1) Perum ' s intent and purpose is to host efforts aimed at the general benefit of providing quality goods and/or services at an affordable price by a society based on the principles of management of a company that is not available to the Cloud Service. Healthy.
.,, (2) To support the activities in order to achieve the intent and purpose as referred to in paragraph (1), with the Minister ' s consent, Perum may undertake the inclusion of capital within the other enterprise body.
The Third Part
The organ
Section 37
The Perum organ is the Minister, Directors, and the Supervising Board.
The Fourth Part
Minister ' s authority
Section 38
.,, (1) the Minister gave approval on the development policy of Perum proposed by the Directors.
.,, (2) The policy development policy as referred to in paragraph (1) is proposed by the Directors to the Minister after it gets approval from the Supervising Board.
.,, (3) The policy as referred to in paragraph (1) is set according to the intent and purpose of Perum concerned.
Section 39
The Minister is not responsible for any resulting legal action Perum made and is not responsible for the loss of Perum exceeding the wealth value of the country which has been separated into the Perum, unless the Minister:
., a., a. either direct or indirect in bad faith leverages Perum solely for personal benefit;
B. engaged in acts against the law carried out by Perum; or
., c.c. directly or indirectly against the law using Perum's wealth.
Section 40
The provisions of the manner of the transfer, the charging of the assets remain Perum, as well as the acceptance of the long-term loan and the granting of loans in any way and manner, and do not collect any more and remove from the accounts receivable. and supplies of goods by Perum are set up with the Minister ' s Decision.
The Fifth Part
Base Budget
Section 41
.,, (1) Perum ' s base budget is set out in Government Regulation on its stance.
(2) The basic budget change of Perum is set with the Government Regulation.
.,, (3) The basic budget change as referred to in paragraph (2) begins to apply since the date of the promulcity of the Government Regulation on the changes in the basic budget of Perum.
The Sixth Part
Profit Usage
Section 42
.,, (1) Each year the Perum book is required to set aside a certain amount of net profit for backup.
.,, (2) The net profit allowance as referred to in paragraph (1) is performed until the reserve reaches at least 20% (twenty percent) of Perum's capital.
., (3) The reserves as referred to in paragraph (1), which have not yet reached the amount as referred to in paragraph (2), can only be used to close losses that cannot be met by other reserves.
Section 43
The use of the net profit Perum includes the determination of the preliminary number for the reserves as referred to in Article 42 set by the Minister.
The Seventh Part
The Perum board of Directors
Section 44
The appointment and dismissal of the Directors is set by the Minister in accordance with the mechanism and provisions of the laws.
Section 45
.,, (1) Which can be appointed as a member of the Board of Directors is a person who is capable of carrying out legal deeds and has never been declared pailit or to be a member of the Board of Directors or the Commissioner or the Supervising Board found guilty of causing A Perseroan or Perum is declared a pailit or a person who has never been convicted of committing a criminal offence to the country's finances.
.,, (2) In addition to the criteria referred to in paragraph (1) the members of the Directors are appointed based on the consideration of expertise, integrity, leadership, experience, honest, good behavior, and high dedication to advancing and developing Perum.
.,, (3) The membership of the Board of Directors is carried out through the mechanism of the feasibility test and the patchiness.
.,, (4) The candidate of a member of the Board of Directors who has been declared a test of eligibility and propriety is required to sign a management contract before it is assigned its appointment as a member of the Board.
.,, (5) The tenure of the Board of Directors is set 5 (five) years and may be reappointed for 1 (one) times the term.
.,, (6) In terms of the Board of Directors consisting of more than a member, one of the members of the Board of Directors is appointed as the lead director.
Section 46
Members of the Directors can at any time be dismissed by the Minister ' s Decision by mentioning the reason.
Section 47
Further provisions on the terms and conditions of the appointment and dismissal of the Board of Directors are set up with the Minister ' s Decision.
Section 48
In carrying out its duties, the Directors are obliged to devote your power, mind, and attention to the task, duty, and achievement of Perum ' s goals.
Section 49
.,, (1) The board of directors is required to set up a plan for a long term plan which is a strategic plan that contains the goals and objectives of Perum which are to be achieved within the term of 5 (5) years.
.,, (2) The draft long-term plan that has been signed together with the Supervising Board is delivered to the Minister to obtain the attestation.
Section 50
.,, (1) The board of directors is required to prepare a design plan and budget of a company that is the annual definition of a long-term plan.
.,, (2) The board of directors is required to deliver the design of the company's work plan and budget to the Minister to obtain the authorization.
Section 51
.,, (1) Within 5 (five) months after the Perum book year is closed, the Directors are required to submit an annual report to the Minister to obtain the authorization.
.,, (2) The annual report as referred to in paragraph (1) is signed by all the members of the Board of Directors and the Supervising Board.
., (3) In that case there is a member of the Board of Directors or the Supervising Board not signing the annual report as referred to in paragraph (2) should be mentioned the reason in writing.
Section 52
Further provisions on long-term plans, corporate work and budget plans, annual reports and annual calculations of Perum are set up with the Minister ' s Decision.
Section 53
Members of the Directors are prohibited from calling me a double post as:
., a., a. A member of the Board of Directors of the BUMN, an area's business entity, a private property agency, and other positions that may lead to a clash of interests;
., b. other structural and functional offices on the agency/central government agencies and regions; and/or
.,, c. other offices in accordance with the provisions in the regulation of the Perum establishment and the provisions of the laws.
Section 54
Directors are obliged to maintain meeting treatises and host the Perum bookkeeping.
Section 55
.,, (1) The directors can only apply to a state court for Perum to be declared pailit based on the Minister ' s approval.
., (2) In the case of bankruptcy occurring due to the error or omission of Directors and Perum's wealth is not sufficient to close the losses due to the bankruptcy, each member of the Board of Directors is responsively responsible for the loss.
.,, (3) Members of the Directors who can prove that the pailitan is not because of the fault or the negligence is not liable responsively for the loss.
.,, (4) In terms of the actions of the Board of Directors pose a loss to Perum as referred to in paragraph (2), the Minister represents Perum to conduct charges or litigation against its Directors through a court of law.
The Eighth Part
The Supervising Board
Section 56
The appointment and dismissal of members of the Supervising Board are set by the Minister in accordance with the mechanism and provisions of the laws.
Section 57
.,, (1) Which can be appointed to a Supervising Board member is a person who is capable of carrying out legal deeds and never declared bankruptcy or become a member of the Board of Directors or the Commissioner or the Supervising Board found guilty. causing a company or Perum to be declared pailit or a person who has never been convicted of committing a criminal offence to the country's finances.
.,, (2) In addition to the criteria as referred to in paragraph (1), the Supervising Board member is appointed based on consideration of integrity, dedication, understanding of corporate management issues related to one of the management functions, have Sufficient knowledge in the field of Perum's business, and may provide sufficient time to carry out its duties.
.,, (3) The Composition of the Supervising Board must be established in such a way that allowing decision making can be done effectively, precise and fast, as well as being able to act independently.
.,, (4) The term of the Supervising Board member is set 5 (five) years and may be reappointed for 1 (one) times the term.
.,, (5) In terms of the Supervising Board consisting of more than a member, one of the Supervising Board members is appointed as the chairman of the Supervising Board.
.,, (6) The Regents of the Supervising Board members are not in time with the appointment of members of the Directors, except the appointment for the first time at the time of the establishment.
Section 58.
Members of the Supervising Board can at any time be dismissed on the Ministerial Decree by mentioning the reason.
Section 59
Further provisions on the terms and conditions of the appointment and dismissal of the Supervising Board are set up with the Minister ' s Decision.
Section 60
The Board of Trusts is tasked with overseeing the Directors in the run of Perum ' s affairs as well as providing advice to Directors.
Section 61
.,, (1) In the base budget may be assigned the granting of authority to the Supervising Board to grant its consent to the Directors in performing certain legal deeds.
.,, (2) Based on the base budget or the Ministerial Decree, the Supervising Board may perform the Perum ' s management act in certain circumstances for a certain period of time.
Section 62.
Members of the Supervising Board are prohibited from calling me a double post as:
., a., a. Members of the Board of Directors of the BUMN, regional-owned business entities, private property entities, and other posts that may lead to a clash of interests; and/or
B. other posts in accordance with the provisions of the laws.
BAB IV
MERGERS, SMELTERS, TAKEOVERS,
AND THE DISSOLUTION OF BUMN
Section 63
.,, (1) The combined or smelting of a BUMN can be done with other BUMN that has existed.
(2) A BUMN can take over BUMN and/or any other limited liability.
Section 64
(1) The Dissolution Of The BUMN is set with Government Regulation.
.,, (2) If not otherwise specified in the Government Regulation as referred to in paragraph (1), the remainder of the liquidation results or dissolution of the BUMN are provided directly to the State Kas.
Section 65
., (1) Further provisions regarding the incorporation, smelting, takeover, and dissolution of the BUMN, are set up with Government Regulation.
.,, (2) In performing the actions referred to in paragraph (1), the interests of the BUMN, shareholders/capital owners, third parties, and employees of the BUMN must remain in interest.
BAB V
GENERAL SERVICE OBLIGATIONS
Section 66
.,, (1) The Government may provide a special assignment to the BUMN to organize a general expediency function by keeping attention to the intent and purpose of the activities of the BUMN.
.,, (2) Any assignment as referred to in paragraph (1) must first obtain the RUPS/Minister ' s consent.
BAB VI
INTERNAL SUPERVISION UNIT,
THE AUDIT COMMITTEE, AND THE OTHER COMMITTEE
The First Part
The Internal Supervision Unit
Section 67
.,, (1) In each of the BUMN formed an internal surveillance unit that was the company ' s internal supervising apparatus.
.,, (2) An internal oversight unit as referred to in paragraph (1) is led by a head who is responsible to the principal director.
Section 68
Upon the written request of the Commissioner/Supervising Board, the Board of Directors provides a description of the results of the examination or the execution of an internal surveillance unit.
Section 69
The directors are obliged to pay attention and immediately take the necessary steps over everything put forth in each examination results report made by the internal surveillance unit.
The Second Part
The Audit Committee and the Other Committee
Section 70
.,, (1) The Commissioner and Supervisors Board of BUMN are obliged to form an audit committee that works collectively and serves to assist the Commissioner and the Supervising Board in carrying out its duties.
.,, (2) The audit committee as referred to in paragraph (1) is headed by a speaker in charge of the Commissioner or the Supervising Board.
.,, (3) In addition to the audit committee as referred to in paragraph (1) the Commissioner or the Supervising Board may form another committee set forth by the Minister.
.,, (4) Further provisions concerning the audit committee and other committees are set up with the Minister ' s Decision.
BAB VII
EXTERNAL CHECK
Section 71
.,, (1) Examination of the company ' s financial statements is carried out by an external auditor set by the RUPS for Persero and by the Minister for Perum.
.,, (2) The Financial Examiner ' s Agency authorized the examination of the BUMN in accordance with the provisions of the laws.
BAB VIII
RESTRUCTURING AND PRIVATIZATION
The First Part
The intent and purpose of restructuring
Section 72
.,, (1) The restructuring is carried out with the intent to healer the BUMN to be able to operate efficiently, transparent, and professional.
(2) The purpose of the restructuring is for:
., a., a. enhance the company ' s performance and value;
B. provide dividends and tax benefits to the country;
.,, c. produces products and services at a competitive price to consumers; and
D. Ease of privatization.
.,, (3) The implementation of the restructuring as referred to in paragraph (1) remains attenuating the cost asas and the benefits it obtainable.
The Second Part
The Scope Of The Restructuring
Section 73
Restructuring includes:
., a., a. Sectoral restructuring whose implementation is adjusted to the policy of the sector and/or the provisions of the laws of the laws;
B. Corporate/corporate restructuring that includes:
.,
., 1) increased the intensity of venture competition, especially in the sectors that contained monopolies, both regulated and natural monopolies;
., 2) the structuring of functional relationships between the government as regulators and the BUMN as an enterprise entity, including in it the application of good corporate governance principles and setting directions in order to exercise the duties of public services.
.,, 3) an internal restructuring that includes finance, organisacil management, operational, system, and procedure.
The Third Part
Privatisation and Purpose of Privatization
Section 74
(1) Privatisation.Jperformed with intent to:
., a., a. expand the public ownership of Persero;
B. enhance the company ' s efficiency and productivity;
c. creating a good financial and financial structure/cuat;
D. creating a healthy and competitive industrial structure;
e. creating a global saing and global-oriented Persero;
f. grow the business climate, macro economy, and market capacity.
.,, (2) Privatisation is done in order to improve the company's performance and add value and improve the role as well as the community in the Persero stock.
The Fourth Part
The Privatization Principle and Corporate Criteria
that can be privatized
Privatization is done with regard to the principles of
transparency, independence, accountability, accountability, and
the kefrying.
Section 76
.,, (1) The privatized Persero must at least fulfill the criteria:
., a., a. The industrial or business sector is competitive; or
B. The industriy/sector of the business that elements of technology is rapidly changing.
.,, (2) Some of the assets or activities of Persero carrying out general service obligations and/or those under the Act of Act of conduct must be performed by the BUMN, may be separated to serve as inclusion in the establishment of a company for Then, if the dipcrlukal1 can be privatized.
Section 77
The inprivatable persero is:
., a., a. Persero whose business is based on the provisions of laws only to be managed by the BUMN;
., b. Persero moving in the business sector related to the defense and security of the country;
., c. Persero moving in a particular sector that by the government is given a special duty to carry out certain activities related to the interests of the community;
., d. Persero that moves in the field of natural resource endeavour that is expressly under the provisions of laws is forbidden to be privatized.
Section 78
Privatization is implemented in a way:
a. share sales based on the capital market provisions;
B. share sales directly to investors;
c. Stock sales to the management and/or the employees concerned.
The Fifth Part
The Privatization Committee
Section 79
.,, (1) To discuss the clan deciding the policy of ten tang privatisation in connection with a sectoral policy, the government forms a privatisation committee as a coordination container.
.,, (2) The privatisation committee is headed by the Coordinating Minister who spearheaded the economy with the members, namely the Minister, the Finance Minister, and the Technical Minister where Persero was doing business activities.
.,, (3) The membership of the privatisation committee as referred to in paragraph (2) is set with the Presidential Decree.
Section 80
(1) The privatisation committee is tasked to:
.,
., a., a. formulating the clan sets a general policy and the requirements of Privatization;
., b. Persero that moves in the field of natural resources endeavour based on the provisions of the laws is forbidden to be privatized.
Section 78
Privatization is implemented in a way:
a. shares based on the capital market provisions;
B. share sales directly to investors;
c. Stock sales to the management and/or the employees concerned.
The Fifth Part
The Privatization Committee
Section 79
.,, (1) To discuss and sever policies on privatization in connection with cross-sectoral policies, the government forms a privatisation committee as a coordination container.
.,, (2) The privatisation committee is led by the Coordinating Minister who is drugging the economy with the members, namely the Minister, the Minister of Finance, and the Technical Minister where Persero conducts the business activities.
.,, (3) The membership of the privatisation committee as referred to in paragraph (2) is set with the Presidential Decree.
Section 80
(1) The privatisation committee is tasked to:
.,
., a., a. formulating and setting a general policy and Privatization implementation requirements;
., b. set the necessary steps to smooth the Privatization process;
.,, c. discussed and gave way out over strategic issues arising in the Privatization process, including those related to government sectoral policies.
.,, (2) The privatisation committee in performing its duties as referred to in paragraph (1) may invite, request input, and/or help the government agencies or other parties viewed as necessary.
.,, (3) The chairman of the privatisation committee regularly reports the development of his duties to the President.
Section 81
In executing Privatization, the Minister is tasked to:
a. compiling the annual Privatization program;
., b. submitted a Privatization annual program to the privatisation committee to obtain a directive;
c. perform Privatization.
The Sixth Part
Set The Privatization Way
Section 82
.,, (1) Privatization must be preceded by selection action over the companies and basing the criteria set forth in the Government Regulation.
., (2) Against the companies that have been selected and met the prescribed criteria, upon receiving the recommendation of the Finance Minister, subsequently socialized to the public as well as consulted to the House of Representatives.
Section 83
The further provisions on the Privatization layout are set with
Government Regulation.
Section 84
Any person and/or legal entity that has a potential clash of interests is prohibited from being involved in the Privatization process.
The Seventh Part
Information Privacy
Section 85
.,, (1) The associated parties in the program and the Privatization process are required to maintain secrecy for the information obtained along the infonate is not yet open.
.,, (2) The violation of the provisions as referred to in paragraph (1) is subject to sanction in accordance with the provisions of the laws.
The Eighth Part
The Privatization Result
Section 86
.,, (1) The results of Privatization by means of the sale of the state-owned shares of the company directly to the State Kas.
.,, (2) Further provisions on the manner of the dispersal of Privatization results are governed by the Government Regulation.
BAB IX
OTHER LAIN-CONDITIONS
Section 87
.,, (1) BUMN employees are employees of the BUMN whose appointment, dismissal, position, rights and obligations are established under a joint work agreement in accordance with the provisions of the employment law.
.,, (2) BUMN Employees may form the union in accordance with the provisions of the laws.
.,, (3) The unions are obliged to maintain security and isolation within the company, as well as improve the discipline of work.
Section 88
.,, (1) BUMN may set aside a portion of its net profits for the purposes of coaching of small businesses/co-operatives as well as the coaching of the communities around BUMN.
.,, (2) Further provisions regarding the preliminations and use of the profits as referred to in paragraph (1) are governed by the Decree of the Minister.
Section 89
Members of the Commissioner, Supervising Board, Directors, employees of BUMN are prohibited from giving or offering or receiving, either directly or indirectly, something valuable to or from a customer or a government official to influence or in return for what he has done and other actions in accordance with the provisions of the laws.
Section 90
The BUMN within the limits of the solubility can only provide a donation to charity or social purpose in accordance with the provisions of the laws.
Section 91
In addition to the organs of the BUMN, any other party is prohibited from interfering in the BUMN ' s concern.
Section 92.
Changes in the shape of the BUMN legal body are set up with Government Regulation.
BAB X
TRANSITION PROVISIONS
The BUMN ' s business.
Section 93
., (1) Within 2 (two) years of counting since the Act came into effect, all BUMN-shaped company jaws (Perjan), must have been changed its form to Perum or Persero.
.,, (2) Any provision governing the BUMN is declared to remain in effect as long as it is not contradictory or has not been replaced with a new one under this Act.
BAB XI
CLOSING PROVISIONS
Section 94
With the enactment of this Act, then:
., 1. Indonesische Bedrijvenwet (The Staatsblad of 1927 Number 419) as it has been changed several times and was the last with Law No. 12 of 1955 (the State Gazette of the Republic of Indonesia in 1955 No. 49, Supplementary Sheet Number 850);
., 2. Law Number 19 Prp Year 1960 About State Companies (Republic Of Indonesia States 1960 Number 59, Extra State Sheet Number 1989);
., 3. Law Number 9 Year 1969 on Establishing The Replacement Government Ordinance Number 1 1969 (sheet State of the Republic of Indonesia in 1969 Number 16, Additional Gazette number 2890) on the Forms of State Effort to Law (sheet of state of the Republic of Indonesia in 1969 Number 40, Additional Gazette number 2904);
declared not applicable.
Section 95
This law applies since the date of the invitation.
In order for everyone to know it, order the invitational of this Act with its placement in the State Sheet of the Republic of Indonesia.
.,, Dislocated in Jakarta
on June 19, 2003
PRESIDENT OF THE REPUBLIC OF INDONESIA,
MEGAWATI SOEKARNOPUTRI
Promulgated in Jakarta
on June 19, 2003
STATE SECRETARY OF THE REPUBLIC OF INDONESIA,
BAMBANG KESOWO
ADDITIONAL
STATE SHEET RI
| No. 4297 | (Explanation Of State Sheet 2003 Number 70) |
EXPLANATION
Above
CONSTITUTION OF THE REPUBLIC OF INDONESIA
No. 19 YEAR 2003
ABOUT
STATE OWNED ENTITY
UMUM
.,, I. The advancement of welfare for the entire people as mandated in the subsequent Opening of the Constitution of 1945 is more detailed in Article 33 of the Constitution of 1945 is a constitutional duty for the entire component of the nation. In relation to the above, it is necessary to increase the mastery of all national economic forces either through sectoral regulation or through state ownership of certain business units with the intent to provide the benefits of the country. As large as the wealth of the people.
.,
.,, the entire State-owned Business Agency (BUMN), or most of its capital, comes from a wealth of segregated states, is one of the economic actors in the national economy system, alongside private and cooperative ventures. In the course of his efforts, the private, private and cooperative activities performed a mutually supportive role based on economic democracy.
., II. In the national economic system, the BUMN is responsible for producing the necessary goods and/or services in order to achieve a great deal of the prosperity of the people. The role of the BUMN was felt increasingly important as a pioneer and/or pioneer in the business sector that had not been in private interest. In addition, the BUMN also has a strategic role as being a public service, a counterweight of large private powers, and assists in the development of small business/cooperative ventures. BUMN is also one of the country ' s significant sources of acceptance in the form of various types of taxes, dividends and privatization results.
.,
.,, the implementation of the role of the BUMN is embodied in business activities on almost all sectors of the economy, such as agricultural sector, fisheries, plantations, forestry, manufacturing, mining, finance, post and telecommunications, transportation, electricity, industry and trade, as well as construction.
., III. In reality, although the BUMN has achieved its initial goal as a corporate development agent and booster, it is achieved at a relatively high cost. The performance of the company is assessed as inadequate, as it appears in the low profits gained compared to the invested capital. Due to various constraints, the BUMN has not been fully able to provide high quality goods and/or services for people at affordable prices and have not been able to compete in business competition globally. In addition, due to the limitations of resources, the function of the BUMN either as a pioneer or as a counterweight to large private powers, is also not yet fully implemented.
.,
., on the other hand, the development of the world economy is very dynamic, especially with regard to the liberalization and globalization of trade that has been agreed upon by the international world such as an agreement on the World Trade Organization (WTO), ASEAN Free Trade Area (AFTA), the ASEAN Framework Agreement on Service, and the regional economic cooperation of Asia Pacific Economic Cooperation (APEC).
., IV. To be able to optimize its role and to maintain its existence in an increasingly open and competitive world economic development, the BUMN needs to cultivate corporate culture and professionalism among other things through the establishment of an affair and The surveillance. The management and supervision of the BUMN must be done based on the principles of good corporate governance.
.,
.,, increased efficiency and productivity of the BUMN must be carried out through restructuring measures and privatization. A sectoral restructuring is done to create a climate of business that is conducive to efficiency and optimal service. The company's corporate restructuring includes realignment of business entities, business activities, organizations, management, and finance. Privatization is not solely defined as the company's sales, but it is the tool and means of forming a BUMN to reach multiple targets at once, including increased performance and added value of the company, structural improvements. finance and management, the creation of a healthy and competitive industrial structure, BUMN empowerment that is capable of competing and global oriented, the deployment of ownership by the public as well as the development of domestic capital markets. With the privatization of the BUMN, it does not mean the control or sovereignty of the state over the BUMN is concerned to be reduced or lost because as stated above, the state continues to exercise its mastery function through sectoral regulation. where the privatized BUMN carries out its business activities.
.,, the importance of continuing alignment for the implementation of the role of the BUMN in the national economy system, especially the increased performance and value (value) of the company, has been mandated by the People's Consultative Assembly (MPR) through the United States. The Decree Number IV/MPR/1999 on the Great Line of the State Haluan Negara from 1999-2004. The MPR tapped that the BUMN, especially its efforts with respect to the general interest, needs to continue to be laid out and nursed through restructuring and for the BUMN whose efforts are not related to the common interest and are in the sector which has been competitive driven to privatization.
., V. The arrangement of the BUMN's management and supervision system has been conducted by the Government at a time, and that it will continue. One of the steps that has been done is with the arrangement against the laws governing the BUMN. In 1960, it was issued Law No. 19 Prp. In 1960, the goal was to provide a uniformity in the way that it took care and control and the legal form of the existing state enterprise.
.,
.,, in 1969, enacted Law Number 9 of 1969. In the Act, the BUMN simplified its form into three forms of state enterprise (Perjan) which is fully subject to the provisions of Indonesische Bedrijvenwet (Stbl. 1927: 419), the General Company (Perum) which is wholly subject to the provisions of Law No. 19 Prp. In 1960 and the Company of Perseros (Persero) which was fully subject to the provisions of the Code of Trade Law (Stbl. 1847: 23) in particular the provisions of the limited liability section, which had been replaced by Law No. 1 of 1995 on the Limited Perseroan. In accordance with the mandate of Law Number 9 of 1969, the Government created the BUMN coaching guidelines that govern in detail matters relating to the mechanisms of coaching, management and supervision in the Government Regulation No. 3 In 1983, then updated with the Government Regulation No. 12 of 1998 on Corporate Perseroan (PERSERO), Government Regulation No. 13 of 1998 on Public Companies (PERUM) and Government Regulation No. 6 of 2000 concerning the The Office Company (PERJAN). The various regulations of the Government provide a more definitive directive on the system used in the efforts of improving the performance of the BUMN, which is a clear and unequivocal implementation of the corporate mechanism in the management of the BUMN.
.,, however, such laws still have not provided a strong legal basis in the development of the state's agency in line with the development of corporate world as well as privatization efforts and execution. the principles of good corporate governance.
., VI. Based on the reality of the above, and paying attention to the mandate of the MPR Number IV/MPR/1999, it is considered necessary to establish a new Act that governs the BUMN more comprehensive and in accordance with the development of the business world.
.,
.,, the Act is intended to meet the future development vision of the BUMN and lay down the foundations or principles of good corporate governance. The application of these principles is essential in performing the management and supervision of the BUMN. Experience has proven that economic purteness in various countries including Indonesia, among others, are caused by companies in the country not to implement good corporate governance principles. consistent.
.,, the BUMN Act is designed to create a sustainable management and supervising system on the principles of efficiency and productivity in order to improve performance and value (value) BUMN, as well as preventing the BUMN from exploitative measures outside of good corporate governance. The law is also designed to organize and extend the role of the agency and position of the deputy government as a shareholder/owner of the capital BUMN, as well as making it clear and to clarify the relationship of BUMN as an enterprise operator with government agencies as a The regulator.
., in addition, the Act governs the provisions of restructuring and privatization as a tool and manner of BUMN-forming to achieve its ideals as well as other important matters that support and can be a cornerstone for BUMN's recovery efforts.
.,, specifically regarding the privatization program, this Act asserts that privatization can only be done against Persero-shaped BUMN as long as possible under the laws of the activities sector Persero does. That. BUMN Persero may be privatized because it is possible by provisions in the field of capital markets as well as in general only BUMN Persero has moved in the competitive sector. Privatization continued to pay attention to the benefits of the people.
.,, VII. Pay attention to the business of BUMN, which is to cultivate profit and exercise general benefit, in this Act the BUMN is simplified into two forms: the Perseroan Company (Persero) which aims to cultivate profit and be fully subservient. Under the terms of the Law No. 1 of 1995 on the Limited Company and the General Company (Perum) which the government set up to implement the business as the implementation of government obligations to provide certain goods and services for the purpose of the government. meets the needs of people. For the form of Perum, although its existence is to exercise general benefit, however, it is a business effort to remain independent and therefore Perum must also be sought to make a profit in order to be sustainable.
SECTION BY SECTION
Section 1
.,, pretty clear.
Section 2
.,, Verse (1)
.,, the letter a
.,, BUMN is expected to improve the quality of service on society while contributing in increasing national economic growth and helping the country ' s financial acceptance.
Letter b
., although Persero ' s intent and purpose is to pursue benefits, but in certain things to perform a general service, Persero can be given a special task with regard to the principles of management of a healthy company. As such, government assignments must be accompanied by a compensation based on business or commercial calculations, whereas for Perum whose purpose is to provide goods and services for the general interest, in the implementation it must be. Consider the principles of the company's healthy management.
Letter c
., with intent and purpose such as this, any attempt by the BUMN, both goods and services, can meet the needs of the community.
Letter d
.,, the event is an attempt to provide the goods and/or services required by the public, but such activities have not been done by the private and cooperative because it is commercially unprofitable. Therefore, the task can be done through the assignment to BUMN.
In the event of an urgent public need, the government can also exchange a trade function of the BUMN to carry out partnership programs with weak economic-class entrepreneurs.
Letter e
.,, pretty clear
Verse (2)
.,, pretty clear
Section 3
.,, in question, other laws are the provisions of the No. 1 Act of 1995 including its changes if any and its implementation regulations and the sectoral laws governing the field of BUMN business and the private issued by non-department departments/institutions.
Section 4
.,, Verse (1)
., being separated is the separation of the country ' s wealth from the State Budget and Shopping Budget to be made the inclusion of state capital on the BUMN for further coaching and its management is no longer based on the system The State ' s Revenue and Shopping Budget, but its coaching and management are based on the principles of a healthy company.
Verse (2)
.,, the letter a
., included in the State Shopping and Shopping Budget, including the State Budget and Revenue Budget projects managed by the state-owned BUMN and/or state receivation of the BUMN as the country's capital inclusion.
Letter b
., referred to as the reserve capitalization is the addition of a dictor capital that comes from the reserves.
Letter c
., in question, the other source, among other things, is an asset revaluation of the asset.
Verse (3)
.,, the Separation of the country ' s wealth to be made the inclusion of state capital into the capital BUMN can only be done by means of the direct inclusion of the country into the capital of the BUMN, so any such inclusion needs to be established with Regulation The government.
Verse (4)
., to monitor and entrepreneurial the country 's wealth embedded in BUMN and limited liability, including the addition and reduction of the country' s wealth as well as changes in the country ' s ownership structure as a result of a stock diversion State property or issuance of new shares not taken part by the state, needs to be established with Government Regulation.
Verse (5)
.,, the inclusion of inclusion of the reserve capitalization and other sources is sufficient with the RUPS/Minister 's Decision and reported to the Finance Minister because in principle the country' s wealth has been separate from the Revenue and Shopping Budget Country.
Verse (6)
.,, the Regulation of the Government of which governs the mechanism of the relationship between the Minister and the Minister of Finance and the Minister of Finance in accordance with their respective positions and functions, namely the Minister of Finance as the country's financial manager, The Minister is appointed to represent the government as a shareholder, and the Minister of Technical Affairs as the regulator.
Section 5
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, pretty clear
Verse (3)
.,, the Board of Directors as an organ of the BUMN which is charged in doing business is subject to all regulations applicable to the BUMN and remains adhering to the application of good corporate governance principles that include:
.,, a) transparency, i.e. openness in carrying out decision making processes and openness in disclosing material and relevant information regarding the company;
.,, b) independence, i.e. the circumstances under which the company is professionally managed without a clash of interests and influence/pressure from any party that is not in compliance with the laws and principles of the corporation of health;
.,, c) accountability, which is the clarity of the function, the execution and responsibility of the Organ so that the management of the enterprise is accomplished effectively;
.,, d) liability, that is the suitability within the company's management of the laws and the healthy corporate principles;
.,, e) sanity, which is the suitability within the company's management of the laws and the principles of the corporation that are healthy.
Section 6
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, pretty clear
Verse (3)
.,, See the explanation of Article 5 of the verse (3).
Article 7
.,, taking a personal advantage means abusing its authority as a member of the Board of Directors or the Commissioner or the Supervising Board of the BUMN for its own benefit, group, or group.
Article 8
.,, Verse (1)
.,, the intent of this provision is to avoid a clash of interests between the members of the Board of Directors or the Commissioners or the Supervising Board and the BUMN taken care of.
Verse (2)
.,, pretty clear
Verse (3)
.,, pretty clear
Article 9
.,, pretty clear.
Article 10
.,, Verse (1)
.,, the study referred to in this paragraph to determine whether the Persero should be established through the study of business planning and the ability to be independent and to develop future endeavour.
The study in this case involves the technical minister as long as it concerns sectoral policies.
Verse (2)
.,, the implementation of the establishment of Persero is carried out by the Minister considering the Minister is a representative of the state as a shareholder in Persero with a guideline on legislation.
Article 11
., given that Persero is essentially a limited liability, all provisions of Act No. 1 of 1995 on the Limited Perseroan, including any of the rules of implementation, apply also to Persero.
Article 12
.,, Persero as one of the national economic offenders is being sued to be able to meet market demand through the provision of high-quality goods and/or services that are strong and strong in both the domestic and international markets. Thus it can increase the advantages and value of Persero in question so that it will provide optimal benefits for the parties to the associated.
Article 13
.,, pretty clear.
Section 14
.,, Verse (1)
.,, for Persero whose entire capital is (100%) owned by the state, the designated Minister representing the state as a shareholder in any written decision related to Persero is a RUPS decision. For Persero and a limited liability company whose shares belong to less than 100% (one hundred percent), the Minister is a shareholder and the decision is taken together with the other shareholders in the RUPS.
Verse (2)
., referred to as a person is someone who occupies a post under the Minister who is technically in charge of assisting the Minister as a shareholder in the Persero in question. Nevertheless, in terms of view of the need, not the possibility of the possibility of power may also be given to the legal entity in accordance with the laws.
Verse (3)
., although the position of the Minister as a representative of the government has been given to the individual or legal entity to represent him in the RUPS, for certain things the recipient of the must first obtain the consent of the Minister before the matter. It's decided in RUPS. It needs to get approval first from the Minister given its very strategic nature for the continuity of Persero.
Article 15
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, in his position as RUPS, the appointment and dismissal are quite done with the Minister ' s decision. The decision of the Minister has the same legal powers as the decisions taken legitimately in the RUPS.
Section 16
.,, Verse (1)
.,, pretty clear
Verse (2)
., given the position of the Board of Directors as a strategic Persero organ in taking care of the company to achieve the intent and purpose of the company to fill the office required for the candidates of directors who have expertise, integrity, honesty, and the role of the company. leadership, experience, good behavior, and high dedication, as well as having a vision of the development of the company.
To obtain the best possible members of the Board of Directors, selection is required through a fit and proper test conducted in a transparent, professional, self-sufficient, and accountable fit.
The test of such viability and propriety is performed by a team appointed by the Minister as RUPS in terms of all its shares owned by the state, and appointed by the Minister as a shareholder in that part of its share is owned by the state, special to the Directors representing the element of the government.
Members of the team appointed by the Minister must meet the criteria among other professionalities, understanding the management field and the business of BUMN concerned, do not have a conflict of interest with the candidate of a member of the board. which is concerned and has integrity as well as dedication of the high. The minister can also appoint an independent professional institution to conduct a test of viability and the propriety of the candidates for Persero's board.
Verse (3)
.,, referred to as a management contract is a statement of corporate intent (SCI) which, among other things, contains promises or statements of directors to meet all targets set by shareholders. The management contract is updated annually to be tailored to the company ' s conditions and development.
Verse (4)
.,, the Members of Directors who have completed their term can be considered for reappointed based on performance assessments in the previous period.
Verse (5)
.,, pretty clear
Section 17
., in question, at any stop at any time is a stop before his term ends. The termination of this Service will be made available to the Cloud Service during the term of the term of the Cloud Service. Legislation, found guilty by a court decision that has a fixed legal force, dies, and resigns.
Article 18
.,, pretty clear.
Section 19
.,, pretty clear.
Section 20
.,, the company secretary (corporate secretary) serves to ensure that Persero complies with regulations on the requirements of openness in line with the application of good corporate governance principles, providing information for Directors and Commissioners periodically if requested. The company ' s secretaries must fulfill adequate professional qualifications.
The company ' s secretary is appointed and dismissed by the Directors as well as responsible to the Directors.
Section 21
.,, Verse (1)
.,, the draft long-term plan contains, among other things:
a. evaluation of the execution of previous long-term plans;
B. the position of the company currently;
C. Assumptions used in the preparation of a long-term plan;
D. mission assignments, objectives, strategies, policies, and long-term plan work programs.
Verse (2)
.,, the Commissioner before signing the plan of a long-term plan delivered by the Directors, is required to discuss jointly with the Directors. By signing together, all of the members of the Board of Directors and Commissioners are responsible for the design of the long-term plan in question.
Article 22
.,, Verse (1)
.,, the company ' s planned work plan and budget includes:
., a., a. Persero's mission, venture objective, business strategy, company policy, and activities/activities;
., b. The company's budget is detailed on every job program budget.
c. Persero financial projection and its subsidiaries;
D. other things that require a RUPS decision.
Verse (2)
., given the work plan and the company 's budget passed by RUPS, any changes must also be approved by the RUPS, unless otherwise specified in the RUPS decision regarding the passage of the company' s work plan and intended budget.
Section 23
.,, Verse (1)
.,, the annual Report contains among others:
., a., a. Annual calculations consisting of the balance sheet end of the past year of past book and the calculation of the profits from the year of the book in question and the explanation of the document;
., b. A combined balance sheet of a company incorporated into one group, alongside the balance sheet of each of these companies;
., c. Report on the circumstances and the path of the company, as well as the results that have been achieved;
D. Main activities of the company and changes during the book year;
., e. Details of problems arising during the year of the book that affect the activities of the perseroan;
f. Names of Directors and Commissioners; and
G. Salaries and other benefits for members of the Directors and the honorarium as well as other benefits for the Commissioners.
Verse (2)
.,, Commissioners before signing the annual report delivered by the Directors, are required to discuss jointly with the Directors. By signing together, all members of the Directors and Commissioners are responsible for the contents of the annual report in question.
Verse (3)
.,, the reason the members of the Board of Directors does not sign the need to be explained in writing to the RUPS in order for the RUPS to be able to use it as one of the consideration materials in giving an assessment of the
Section 24
., in addition to arranging long-term plans, work plans and the budget of the company, annual reports and annual calculations, in the Minister 's decision, are set up among others regarding Persero' s health level.
Section 25
.,, the ban on the capture of the post is intended for the members of the Board to truly devote all power and mind and/or attention to the task, obligations and achievement of Persero's goals and to avoid impact on impact. Interest.
Article 26
.,, referred to by the meeting treatises in this section are the meeting treatises of Directors, Commissioners, and the treatise RUPS. The board needs to maintain the meeting's treatise because it is an official document that contains things that are discussed and decided in the meeting, and is evidence against the silence of the action, both by the Board of Directors, the Commissioners, and the other. shareholders in the company ' s management.
Persero bookkeeping is made in accordance with financial accounting standards which are applicable accounting principles.
Any changes that are caused by the transaction or by other events in Persero affecting assets, debt, capital, fees, and revenue must be made on the basis of the accounting system accounted for and organized. based on the internal control principles, especially the separation of the management functions, logging, storage, and supervision.
Section 27
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, See the explanation of Article 15 of the verse (2).
Article 28
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, what it means to act independently is that the Commissioner should not have any interests that can interfere with his ability to carry out his duties independently and critically in relation to one another and against the Directors.
Verse (3)
.,, See the explanation of Article 16 of the verse (4).
Verse (4)
.,, pretty clear
Verse (5)
.,, the Commissioning of the Commissioners not concurrently with the members of the Directors is intended for the absence of vacancy when a member of the Commissioner or a member of the Board of Directors has terminated its term unless the appointment is first for Persero's founding.
Article 29
., look at the explanation of Article 17.
Article 30
.,, pretty clear.
Article 31
.,, the Commissioner in doing his duty is obligated:
., a., a. providing opinions and suggestions to RUPS regarding the work plan and the budget of the company ' s proposed Directors;
., b. following the development of Persero ' s activities, giving opinions and suggestions to RUPS regarding any issues that are considered essential to the Persero affair;
., c. report immediately to the shareholders in the event of any of the symptoms of Persero's performance decline;
D. provide advice to the Directors in implementing the Persero affair;
., e. conduct other supervising duties set out of Persero base budget and/or based on RUPS decisions.
In addition, in order for the Commissioner to perform his duties well in accordance with his duties and functions, the Commissioner has the following authority:
., a., a. look at books, letters, as well as other documents, check the cash for purposes of verification and check out Persero ' s wealth;
B. enter the courtyard, building, and office used by Persero;
.,, c. requesting an explanation from the Directors and/or other officials regarding any issues concerning the management of Persero;
., d. ask for Directors and/or other officials with the knowledge of the Directors to attend the Commissioner ' s meeting;
., e. attend a Board of Directors and provide views on the things that are discussed;
f. dismiss while its Directors, by mentioning the reason;
., g. Any other authority deemed necessary as set out in the Persero base budget.
Section 32
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, these Terms authorize the Commissioners to perform the actual Persero management only to be carried out by the Directors in terms of the Board of Directors not present. If there is a Board of Directors, the Commissioner can only perform certain actions defined by the RUPS in the base budget and the laws.
Section 33
., the ban on the capture of the post was intended to allow the Commissioners to completely devote all his power and mind and/or attention to the task, liabilities and achievements of Persero as well as avoid the impact of the impact. Interest.
Article 34
.,, pretty clear.
Section 35
.,, Verse (1)
.,, The Establishment of Perum must meet the criteria among others as follows:
a. the field of business or its activities is related to the interests of many people;
., b. established not solely for the pursuit of profit (cost weight/cost recovery);
., c. based on the study of meeting the economic requirements required for the establishment of an enterprise (independent).
The proposal of the establishment of Perum to the President by the Minister, may be conducted on the Minister's initiative and may be on the initiative of the Minister of Finance and/or from the Minister of Finance throughout the meeting of the criteria above.
This is also the case of Article 10 (1).
Verse (2)
.,, the Regulation of this Government contains among others:
a. assignment of Perum;
B. the definition of the country ' s wealth separated;
c. Basic budget;
D. The Minister's appointment as a vice-government owner.
Verse (3)
.,, this Government Regulation, among others, regulates regarding the relationship between the Minister, the Finance Minister and the Technical Minister in terms of the establishment, coaching, management and supervision of Perum.
Section 36
.,, Verse (1)
., Perum is distinguished by the Company due to the nature of its efforts. Perum in his efforts was heavier in service for the sake of general expediency, both service and the provision of goods and services. Nevertheless, as a body of effort to stay independent and to that Perum it needs to be profitable in order to live a sustainable life.
Verse (2)
.,, in question, the inclusion of capital in this verse is the direct inclusion of Perum in ownership of the shares in a limited liability entity, whether it is standing or to be established.
Section 37
.,, the Occupation of the Minister is as the highest power holding organ in the Perum that has any authority not granted to the Board of Directors or the Supervising Board within the limits specified in this Act and/or Regulation. The government's about its establishment.
Article 38
.,, as Minister of Government as the owner of the capital Perum set out a policy of development of Perum which aims to establish a direction in achieving the company's objectives of both investment policy, venture financing, its source of breeding, the use of the company ' s venture results, and other development policies. Given the Supervising Board will oversee the implementation of such policies, the proposal of the Directors to the Minister should be preceded by the approval of the Supervising Board.
The minister is very interested in the State capital embedded in the Perum to be developed. For that investment issue, financing and utilization of Perum venture results need to be clearly directed at a company development policy.
In order to provide approval on the proposal of such Directors, the Minister may hold talks at any time with the Technical Minister to discuss matters relating to sectoral policies.
Article 39
., given Perum ' s capital is essentially a wealth of state that has been separated, the capital owners are only responsible for the value of the inclusion that is provided and does not cover the wealth of the country outside of that capital.
In the event of an action outside of the corporate mechanism as set out in this section, the limited liability of such is lost.
Section 40
.,, the Decree of the Minister governs, among other things, the actions of the Directors that need to obtain the approval of the Supervising Board and/or need to get the Minister ' s consent, which includes, among other things, consent to:
a. loan withdrawal;
B. loan grant;
c. Release of actives;
D. The removal of the debt was jammed and the inventory.
Section 41
.,, Verse (1)
.,, the Government Regulation on the Establishment of Perum, in addition to establishing the establishment of Perum, also at once set the decision to undertake the inclusion of state capital into the Perum and Perum base budget concerned.
The base budget of the Perum contains among others:
a. name and place of Perum;
B. the intent and purpose as well as the Perum business activities;
c. the term of establishment of Perum;
D. the array and number of Directors and the number of Supervising Board members; and
e. set the way of the hosting of the Board of Directors, the Supervising Board meeting, the Board of Directors and/or the Board of Trusts with the Minister and Technical Ministers.
Verse (2)
., because the Government Regulation on the Establishment of Perum at once contains the base budget of Perum, any changes in the basic budget of Perum are set with the Government Regulation.
Verse (3)
.,, pretty clear
Article 42
.,, pretty clear.
Article 43
., under this provision, the Minister may establish that some or all of the net profits will be used for dividend sharing to capital owners, or other divisions such as tantaem (tantiem) for Directors and Supervising Board, bonuses for Employees, social and other funds, or the placement of such net profits in the Perum reserve are reserved for the expansion of Perum's efforts.
Section 44
.,, in order for the appointment of a Board of Directors, the Minister can request the input from the Technical Minister if seen as necessary.
Section 45
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, pretty clear
Verse (3)
., given the position of the Board of Directors as a strategic Perum organ in taking care of the company to achieve the intent and purpose of the company to fill the position required to be the candidates for directors who have expertise, integrity, honesty, leadership, experience, good behavior, and high dedication, as well as having a vision of the development of the company.
To obtain the best possible members of the Board of Directors, selection is required through a fit and proper test conducted in a transparent, professional, self-sufficient, and accountable fit.
The feasibility test and the wrineness are performed by a team appointed by the Minister.
Members of the team appointed by the Minister must meet the criteria among other professionalities, understanding the management field and the business of BUMN concerned, do not have conflict of interest with prospective members of the Board of Directors. that it is concerned, and has integrity, as well as dedication of the high. The minister can also appoint an independent professional institution to conduct a test of viability and propriety on the candidates of Perum's board of directors.
Verse (4)
.,, See the explanation of Article 16 verse (3).
Verse (5)
.,, See the explanation of Article 16 of the verse (4).
Verse (6)
.,, pretty clear
Section 46
., in question, at any stop at any time is a stop before his term ends. The termination of this Service will be made available to the Cloud Service during the term of the term of the Cloud Service. Legislation, found guilty by a court decision that has a fixed legal force, dies, and resigns.
Section 47
.,, pretty clear.
Section 48
.,, pretty clear.
Section 49
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, the Supervising Board before signing the plan of a long-term plan delivered by the Directors, is required to discuss jointly with the Directors. By signing together, all members of the Board of Directors and the Supervising Board are responsible for the design of the long-term plan in question.
Section 50
.,, See the explanation of Article 22 of the verse (1) and the verse (2).
Section 51
.,, Verse (1)
.,, See the explanation of Article 23 of the verse (1).
Verse (2)
.,, See the explanation of Article 23 of the verse (2).
Verse (3)
.,, See the explanation of Article 23 of the verse (3).
Section 52
., look at the explanation of Article 24.
Section 53
., look at the explanation of Article 25.
Section 54
., look at the explanation of Article 26.
Section 55
.,, Verse (1)
.,, pretty clear
Verse (2)
., the error or omission of the Directors referred to in this paragraph is an error or omission that is performed for example because it violates the terms of the base budget of the Perum or the provisions outlined by the Supervising Board and the Minister as well as having It's proven legitimate. In this case the administrative process is conducted by the Minister and the apparatus. However, the guilt or absence of a concerned member of the Board of Directors is based on the judgment of the competent court.
Verse (3)
.,, pretty clear
Verse (4)
.,, pretty clear
Section 56
.,, Members of the Supervising Board may consist of elements of the official Technical Minister, Finance Minister, Minister and non-depart/department officials whose activities are directly related to Perum.
See also the explanation of article 44.
Section 57
.,, Verse (1) and (2)
.,, pretty clear
Verse (3)
.,, See the explanation of Article 28 of the verse (2).
Verse (4)
.,, See Article 16 of the verse (4).
Verse (5)
.,, pretty clear
Verse (6)
.,, See the explanation of Article 28 of the verse (5).
Section 58
., in question, at any stop at any time is a stop before his term ends. The termination of this agreement will be made available to the IBM International Basic General Terms and Conditions for the IBM International Basic General Terms and Conditions. Legislation, found guilty by a court decision that has a fixed legal force, dies, and resigns.
Section 59
.,, pretty clear.
Section 60
., look at the explanation of Article 31.
Section 61
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, See the explanation of Article 32 of the verse (2).
Section 62
., look at the explanation of Article 33.
Article 63
.,, Verse (1)
.,, A Persero can either merge or smelt yourself with any other Persero or Perum that has existed or otherwise.
The merger and smelting of the BUMN can be carried out without being held into liquidation first. With the merger of Persero or Perum merging itself into disbanding. As a result of the dissolution of the BUMN, it disintegrated itself and formed a new BUMN.
Verse (2)
.,, the statutory Perversion performed by the BUMN to take over other BUMN or Limited Perseroan, either whole or most of the shares/capital that may result in the return of control over any such Limited BUMN or Limited Perseroan.
Section 64
.,, Verse (1)
., since the establishment of the BUMN is carried out with the Government Regulation which mentions the magnitude of the country's capital inclusion in the establishment of the BUMN in question, the dissolution of the BUMN should be done with the Government Regulation.
Verse (2)
.,, in the Government Regulation on the dissolution of the BUMN, it can also be established for the remainder of the liquidation result to be the inclusion of state capital on other BUMNs that have existed or been made an inclusion in the framework of the establishment of a new BUMN. If not specified so the rest of the liquidation results are directly provided to the State Kas, as it is the state right as a shareholder or capital owner of the BUMN.
Section 65
.,, Verse (1)
., since any establishment of the BUMN is done with Government Regulation, if any changes to the existence of the BUMN are referred to, either due to mergers, smelters, takeovers and disbandment, should be done anyway with Government Regulation.
Verse (2)
.,, acts to perform a merger, smelting, takeover and dissolution of the BUMN will result directly to the interests of BUMN, shareholders, third parties, and employees of the BUMN. Essentially by doing these actions, it is expected that the newly formed and newly formed BUMN will become even better. The interests of shareholders cannot be harmed, as well as third parties, need to be informed beforehand so that their rights can be resolved adequately. As for the employees who are the assets of the BUMN itself, they will not be subjected to the termination or termination of the labor force. Layoffs are the latter choice and must be completed in accordance with the laws. Therefore, before these actions are done, the BUMN Directors will conduct the merger, smelter, takeover, and such dissolution need to socialize it first to their respective employees.
Section 66
.,, Verse (1)
.,, although the BUMN was established with intent and purpose to pursue profit, it was not covered in the possibility for urgent matters, the BUMN was given a special assignment by the government. If the assignment is financially non-Physically, the government must compensate for all the costs incurred by the BUMN including the expected margin.
Verse (2)
., since the assignment in principle changes the work plan and the existing company budget, the assignment must be known and approved by the RUPS/Minister.
Section 67
.,, an internal monitoring unit was set up to assist the principal director in carrying out a financial internal examination and operational inspection of the BUMN as well as assessing the control, management and implementation of the respective BUMN as well as provide The maintenance advice.
Since the internal supervising unit is in charge of assisting the principal director, the responsibility is given to the principal director.
Section 68
.,, pretty clear.
Section 69
.,, pretty clear.
Section 70
.,, Verse (1)
.,, in order to realize effective oversight in the implementation of its duties, the Commissioner and the Board of Trusts need to be assisted by the Audit Committee tasked with assessing the implementation of activities as well as the audit results carried out by the internal surveillance unit nor an external auditor, providing a recommendation regarding the improvement of the management control system and its implementation, ensuring that there has been a satisfactory review procedure against all information issued by the BUMN, identifying things that requires the attention of the Commissioner and the Board of Trusts The Commissioner and the other supervising board.
Verse (2)
.,, the Chairman of the audit committee is a member of the independent Commissioner, appointed by the Commissioner.
Verse (3)
.,, the other committee referred to here, among others, is the remuneration committee and the nomination committee.
Verse (4)
.,, pretty clear
Section 71
.,, Verse (1)
.,, the company 's financial audits (financial audit) are intended to obtain an auditor' s opinion on the fairness of the financial statements and the company ' s annual calculation of the company concerned. The auditor's opinion of the financial statements and the annual calculation is required by the shareholders/Ministers among others in order to grant acquit et decharge of the Directors and the Commissioner/Supervisors Board of the company.
In accordance with the Law No. 1 of 1995 on Limited Perseroan and Law Number 8 of 1995 on the Capital Market, examination of the financial statements and annual calculations of Limited Perseroan were carried out by public accountants.
Verse (2)
.,, pretty clear
Section 72
., as the mandate is given by the People's Consultative Assembly, the government is obligated to provide the body of the business, especially whose efforts are concerned with the common interest. These efforts can be implemented through restructuring so that the company can operate more efficiently, transparently and professionally so that the business entity can provide the best products/services at a competitive price. consumer, as well as providing benefits to the country.
Prior to implementing the restructuring, the government would consider the asas cost and benefit of the restructuring.
Section 73
.,, the sectoral restructuring is primarily aimed at sectors that have been given protection in the past or there are natural monopolies. The sectoral restructuring is intended to create a healthy business climate, so there is a healthy competition, efficiency, and optimal service. The restructuring of the industry is related to the regulation of (regulation) efforts. Regulation and regulatory structuring are carried out together with related departments.
The restructuring of the sector can be implemented through the following ways: separating segments within the sector to reduce the vertical integration of the sector, the improvement of competition, the introduction of competition from the substitution industry, other suppliers in the sector. equal, and increased market competition, as well as demonopolization through regulation.
For those companies that have public service obligations, these companies are still in the restructuring process. By not ignoring the public interest, the company will implement the principles of effort to further enhance the company ' s efficiency and productivity. The effort is to clarify how much the government subsidised the cost of the community ' s services costs.
Section 74
., with the privatization expected to be a change over corporate culture as a result of the inclusion of new shareholders, either through public offering (go public) or through direct placement. The company will be faced with the obligation of fulfillment of the requirements of openness (disclosure) that is the primary requirement of a process go public, or the company goals that must be achieved as a result of the inclusion of the holder of the holder. New stock. Such a changed company culture will be able to drive future performance improvements that will be able to higher up the company's competability in competing with competitors, whether national, regional, even global so that it can be used to compete with the company's competitors. will eventually be able to contribute more to the national economy in the form of increasingly qualified and affordable goods and services, as well as the state ' s acceptance in the form of tax that will be even greater anyway.
Thus the intention and purpose of privatization is essentially to enhance Persero's role in the effort to increase the general welfare by expanding the ownership of the public over Persero, as well as to improve the economic stability of the economy. national.
Although privatization aims to do efficiencies, it may not be possible until it causes unrest for employees. Therefore, privatization is as far away as possible, in order to avoid the termination of the labor relationship (layoffs). Layoffs can only be performed after a certain period of time after the implementation of privatization, unless employees perform acts that violate the provisions of the law. Then, if the layoffs occur in accordance with the laws. In regards to that, in the effort that employees and unions and the public can understand the benefits of privatization the government needs to do socialization about the benefits of privatization in a very direction and consistent.
Section 75
.,, the privatization of privatization is done in a transparent way, both in the process of preparing it and in its implementation. The privatization process is carried out by guidelines on privatization procedures that have been established without any intervention from other parties outside of the corporate mechanism and applicable laws. The privatization process is also conducted by consulting intensively with the related parties so that the process and implementation can be held accountable to the public.
Section 76
.,, Verse (1)
., in question the industry/competitive business sector is the industry/business sector which can essentially be ushered in by anyone, both BUMN and private. In other words there are no laws (sectoral policies) that prohibit private conduct in such a sector, or the pressure of the sector is not solely devoted to the BUMN.
The industry/business sector that is rapidly changing is the industry/competitive enterprise with the main feature of rapid technological change, and requires a very large investment to replace the The technology.
Verse (2)
.,, pretty clear
Section 77
.,, pretty clear.
Article 78
.,, the letter a
., referred to by the sale of shares based on the provisions of the capital market among others is the sale of shares through public offerings (Initial Public Offering/go public), the issuer of convertible bonds, and other equity-equity effects. In this sense, it is the direct placement of the BUMN, which has been listed on the exchange.
Letter b
., whereas the intended sale of direct stock to investors is the sale of shares to strategic partners (direct placement) or to other investors including financial investors. This way, specifically applies to the sale of BUMN shares that are not yet listed on the exchange.
Letter c
., referred to as the Management Buy Out (MBO) and/or employee (Employee Buy Out/EBO) is the sale of most or all of the shares of a company directly to the management and/or employees of the company that concerned.
Section 79
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, the Technical Minister as a regulator in the sector where the BUMN is conducting business activities, being a member of the privatization committee only in the privatization of BUMN in its field.
Verse (3)
.,, pretty clear
Article 80
.,, pretty clear.
Section 81
.,, In order to carry out the duties as referred to in this section, the Minister takes measures among others as follows:
a. establish the BUMN to be privatized;
B. establish the privatization method to be used;
c. set the type as well as the range of the number of shares to be removed;
D. set the stock-selling price range;
., e. setting up an approximate value that can be obtained from the privatization program of a BUMN.
Section 82
.,, pretty clear.
Section 83
.,, In Government Regulation are set up among others regarding:
a. determination of the BUMN worthy of inclusion in the privatization program;
B. delivery of the annual program privatization to the privatization committee;
c. consulting with the DPR and the Department of related Non-Department agencies;
D. Privatization.
Article 84
.,, which is included in the person and/or legal entity that has a clash of interests is covering the parties that have the following affiliate relationships:
., a., a. family relations due to marriage and descent to second degree, both horizontally and vertically;
., b. The relationship between the parties with the employee, the Director, or the Commissioner of the party;
.,, c. relationships between 2 (two) companies in which there are one or more of the same Board of Directors or Commissioners;
., d. The relationship between the company and the party, whether directly or indirectly, controls or is controlled by the company;
., e. relations between 2 (two) controlled companies, either directly or indirectly, by the same party; or
f. The relationship between the company and the major shareholders.
Section 85
.,, Verse (1)
.,, referred to with information is a material fact and relevant to events, events, or facts that may affect prices and/or financiers, prospective financiers, or other parties interested in information or facts that.
For information or facts referred to, as long as it has not been established as an open information or fact or as long as it has not been announced by the Minister all the parties involved are required to keep the information secret.
Verse (2)
., in the event of a breach of the provisions of this secrecy occurred on the privatization of BUMN which has not yet been listed on the exchange and its privates using means other than the way privatization through the sale of stocks on the exchanges imposed sanctions according to regulations. laws in the field of criminal law, whereas in terms of violations occurring on the privatization of BUMN which have been listed on the exchange, are subject to sanction in accordance with the laws of the capital market.
Section 86
.,, Verse (1)
., the privatization of privatization to the State Kas is the result of a state-owned stock divestment. As for the sale of the new stock, the results are based on the company's coffers. For the privatization of the BUMN subsidiary, its privatication can be established as an interim dividend.
The privatization of the privatization was the result of a reduced cost of privatization. The cost of the privatization of privatization should pay attention to the principle of fairness, transparency and accountability.
Verse (2)
.,, pretty clear
Section 87
.,, Verse (1)
.,, with the status of BUMN employees like this, for the BUMN does not apply to any provisions of the eselonization of office that apply to civil servants.
A joint working agreement is intended to be made between the BUMN workers and the employers of the BUMN management.
Verse (2)
.,, pretty clear
Verse (3)
.,, pretty clear
Article 88
.,, which is meant by small businesses/cooperatives covering small businesses/cooperatives that meet the criteria as small businesses in accordance with the laws.
Section 89
.,, pretty clear.
Article 90
.,, pretty clear.
Section 91
., in order to allow the Directors to perform its duties independently, any outside parties, other than the organs of the BUMN, are not allowed to intervene against the BUMN business. Included in the sense of the intervention is an act or direction that directly influences the actions of the BUMN business or against the decision making by the Directors.
This provision is intended to extend BUMN's independence as an enterprise to be professionally managed so that it can develop well in accordance with the purpose of its efforts.
This applies to the Department and other government agencies, as the needs of the Department's funding and other government agencies have been set up and established independently, the Department and Government agencies are not justified to burden the BUMN. with all forms of spending and otherwise the BUMN is not justified to finance the needs of Department and Government agencies in bookkeeping.
Section 92
.,, pretty clear.
Section 93
.,, pretty clear.
Section 94
.,, pretty clear.
Section 95
.,, pretty clear.
