GOVERNMENT REGULATION NO. 63/2001 DATED SEPTEMBER 13, 2001
THE TRANSFER OF POSITION, TASK, AND AUTHORITY OF THE
MINISTER OF FINANCE IN THE INDONESIAN BANK RESTRUCTURING AGENCY TO THE STATE MINISTER OF STATE-OWNED COMPANIES
THE PRESIDENT OF THE REPUBLIC OF INDONESIA,
Considering :
a. that with the formation of the Office of the State Minister of State-owned Companies in the Mutual-Help Cabinet, it is deemed necessary to transfer the position, task and authority of the Minister of Finance in the Indonesian Bank Restructuring Agency (BPPN) to the State Minister of State-Owned Companies in an effort to enable BPPN to work optimally and efficiently;
b. that the transfer as referred to in point a needs to be laid down in a Government Regulation.
In view of :
1. Article 5 paragraph (2) of the 1945 Constitutions as has been amended through the second amendment of the 1945 Constitution;
2. Law No. 7/1992 on the banking system (Statute Book of 1992 No. 31, Supplement to Statute Book No. 3172) as has been amended by Law No. 10/1998 (Statute Book of 1998 No. 182, Supplement to Statute Book No. 3790);
3. Government Regulation No. 17/1999 on Indonesian Bank Restructuring Agency (Statute Book of 1999 No. 30, Supplement to Statute Book No. 3814) as has been several times amended the latest by Government Regulation No. 47/2001 (Statute Book of 2001 No. 71, Supplement to Statute Book No. 4102);
DECIDES : To stipulate :
THE GOVERNMENT REGULATION ON THE TRANSFER OF POSITION, TASK, AND AUTHORITY OF THE MINISTER OF FINANCE IN THE INDONESIAN BANK RESTRUCTURING AGENCY TO THE STATE MINISTER OF STATE-OWNED COMPANIES.
Article 1
State-Owned Companies.
(2) The transfer of position, task and authority as referred to in paragraph (1) shall not include the authority to issue debentures to finance provisional capital participation of BPPN.
Article 2
(1) In carrying out the position, task and authority as referred to in Article 1 paragraph (1), the State Minister of State-Owned Companies shall receive approval from the Minister of Finance in :
a. approving the financial statement of the end of the budget year;
b. using the surplus of BPPN's revenues based on the financial statement of the end of the budget year.
(2) Before approving the Annual Business Plan and Budget (RKAT) of BPPN, the State Minister of State-Owned Companies shall consult the Minister of Finance.
Article 3
In carrying out its task and function, BPPN shall convey a report of accountability, progress report and financial statement to the Minister of Finance through the State Minister of State-Owned Companies.
Article 4 With the enforcement of this Government Regulation,
a. all implementation rules of Government Regulation No. 17/1999 on the Indonesian Bank Restructuring Agency as has been several times amended the latest by Government Regulation No. 47/2001, provided they do not contradict or have not been amended on the basis of this Government Regulation, shall remain valid;
b. the phrase of the Minister of Finance referred to in all implementation rules of Government Regulation No. 17/1999 on the Indonesian Bank Restructuring Agency as has been several times amended the latest by Law No. 47/2001, provided it involves the position, task and authority of the Minister of Finance in BPPN already transferred to the State Minister of State-owned Companies as referred to in Article 1 paragraph (1), shall be changed into the State Minister of State-owned Companies.
Article 5
This Government Regulation shall begin to take effect on the date of promulgation.
For public cognizance, this Government Regulation shall be promulgated by placing it in the Statute Book of the Republic of Indonesia.
Stipulated in Jakarta On September 13, 2001
sgd.
MEGAWATI SOEKARNOPUTRI
Promulgated in Jakarta, On September 13, 2001 THE STATE SECRETARY, sgd.
BAMBANG KESOWO
STATUTE BOOK OF THE REPUBLIC OF INDONESIA OF 2001 NO. 116
ELUCIDATION OF
GOVERNMENT REGULATION NO. 63/2001 ON
THE TRANSFER OF POSITION, TASK AND AUTHORITY OF THE MINISTER OF FINANCE IN THE INDONESIAN BANK
RESTRUCTURING AGENCY TO THE STATE MINISTER OF STATE-OWNED COMPANIES
GENERAL
In an effort to speed up the national economy recovery efforts particularly to restore the banking condition and recoup state funds already channeled to the banking sector, the Indonesian Bank Restructuring Agency (BPPN) in its capacity as a special agency responsible for restructuring bank and recouping the state funds needs to work more efficiently and effectively so that it can give optimum contribution to the national economic recovery.
companies which have financial obligations are under the control of BPPN. On the other hand, some of the assets under the control of BPPN are related to obligations to state-owned banks that must be fulfilled.
The more synchronous and effective nurture of BPPN and state-owned companies would hopefully support one another and enable them to create synergy in support of the national economic recovery efforts.
To create the synergy between the development of state-owned companies and the implementation of BPPN's task and function, it is deemed necessary to put both of them under the coordination of the State Minister of State-owned Companies.
To ensure that the coordination the task runs well, it is necessary to stipulate provisions on the transfer of position, task and authority of the Minister of Finance in BPPN as laid down in Government Regulation No. 17/1999 on BPPN as has been several times amended the latest by No. 47/2001, to the State Minister of State-owned Companies.
After all, the transfer of authority does not include the authority of the Minister of Finance to issue debentures to finance the provisional capital participation of BPPN.
In addition, in relation to the task of the Minister of Finance as the General Treasurer of the State, The State Minister of State-owned Companies, in carrying out his task and authority in BPPN, must first receive approval from the Minister of Finance before approving the budget year-end financial statement of BPPN and the use of the surplus of BPPN's revenues.
With the transfer of position, task and authority of the Minister of Finance in BPPN to the State Minister of State-owned Companies, a report of accountability, progress report and financial statement of BPPN must be conveyed to the Minister of Finance through the State Minister of State-owned Companies.
ARTICLE BY ARTICLE Article 1
Paragraph (1)
The position, task and authority of the Minister of Finance transferred to the State Minister of State-owned Companies as referred to in this paragraph covers :
1. determining certain tasks to third parties to carry out the tasks of BPPN; 2. appointing and dismissing the Chairman of BPPN;
3. appointing and dismissing the Vice Chairman and Deputy Chairman based on the proposal from the Chairman of BPPB;
4. approving the use of the BPPN's budget based on the Annual Business Plan and Budget of BPPN;
5. stipulating the procedures for procuring goods and services with a value of more than Rp. 50,000,000,000 (fifty billion rupiahs);
6. approving the procurement of goods and services with a value of more than Rp. 50,000,000,000 (fifty billion rupiahs);
Rp. 1,000,000,000,000 (one trillion rupiahs) and assets with a value of more than Rp. 1,000,000,000,000 (one trillion rupiahs);
8. receiving a report on the sales of assets with a value of up to Rp. 1,000,000,000,000 (one trillion rupiahs) from BPPN;
9. approving the sales of assets with a value of more than Rp. 1,000,000,000,000 (one trillion rupiahs);
10.stipulating requirements and procedures for provisional capital participation and the transfer of provisional capital;
11.stipulating provisions and procedures for transferring and selling assets within the framework of restructurization; and
12.approving the procedures, requirements and provisions for taking measures needed to handle the credits of banks put under the restructuring programs or assets put under the restructuring program as stipulated by BPPN.
Paragraph (2)
Sufficiently clear Article 2
Paragraph (1)
Sufficiently clear Paragraph (2)
In drawing up to the Annual Business Plan and Budget (RKAT) of BPPN, the State Minister of State-owned Companies should receive approval from the Minister of Finance particularly to calculate and determine the estimate of revenues paid by BPPN to the Government.
The payment does not include loan premium and interest income. Article 3
The progress report and financial statement should be conveyed once every 6 (six) months.
Article 4 and Article 5 Sufficiently clear
