THE ORGANIZATION OF REGISTRATION OF CORPORETE THE ANNUAL FINANCIAL STATEMENTS
(Decree of the Minister of Industry and Trade No. 525/MPP/Kep/XI/1998 dated November 13, 1998) THE MINISTER OF INDUSTRY AND TRADE
Considering :
a. that in the framework of implementing Law No. 3/1982 on Compulsory Corporate Registration and Government Regulation No. 2/1998 on Corporate Annual Financial Information, it is necessary to regulate the organization of registration of corporate annual financial statements;
b. that to this end, it is necessary to issue a issue a decree of the Minister of Industry and Trade. In view of :
1. Law No. 3/1982 on compulsory corporate registration (Statute Book No. 7/1982, Supplement to Statute Book No. 3214);
2. Law No. 1/1995 on limited-liability companies (Statute Book No. 13/1995, Supplement to Statute Book No. 3587);
3. Law No. 20/1997 on non-tax state’s revenues (Statute Book No. 43/1997, Supplement to Statute Book No. 3687);
4. Government Regulation No. 22/1997 on the types and depositing of non-tax state revenues (Statute Book No. 57/1997, Supplement to Statute Book No. 3694);
5. Government Regulation No. 24/1998 on corporete annual financial information (Statute Book No. 36/1998, Supplement to Statute Book No. 3738);
6. Presidential Decree No. 44/1974 on the organizational principles of ministries;
7. Presidential Decree No. 61/1998 on the position, tasks, organizational structure and working procedure of ministries, as already amended several times, the latest by Presidential Decree No. 124/1998;
8. Presidential Decree No. 122/M/98 on the establishment of the Development Reform Cabinet;
9. Decree of the Minister of Finance No. 43/KMK.017/1997 dated January 17, 1997 on public accountant service;
10. Decree of the Minister of Finance No. 144a/KMK.03/97 on the administration and accountability of non-tax state revenues;
11. Decree of the Minister of Industry and Trade No. 12/MPP/Kep/1/1998 on the organization of compulsory corporete registration;
12. Decree of the Minister of Industry and Trade No. 444/MPP/Kep/9/1998 jo No. 92/MPP/Kep/4/1998 on the organization and working procedure of the Ministry of Industry and Trade.
D E C I D E S To stipulate :
THE DECREE OF THE MINISTER OF INDUSTRY AND TRADE ON THE ORGANIZATION OF REGISTRATION OF CORPORATE ANNUAL FINANCIAL STATEMENTS
CHAPTER 1 GENERAL PROVISIONS
Article 1 Referred to in this decree as :
1. Law No. 3/1982 on compulsory corporate registration shall be the law regulating compulsory corporete registration, hereinafter referred to as UU-WDP.
2. The office for corporate registration shall be the working unit within the ministry of industry and trade acting as the party organizing compulsory corporate registration at the central level and at the levels of first-and-second regions.
4. A limited liability company shall be a statutory body set up on the basis of an agreement, conducting business activities with the equity capital entirely distributed in shares, and fulfilling the requirements stipulated in Law No. 1/1995 and its enforcement regulations, hereinafter referred to as a perseroan. 5. A public limited liability company shall be a perseroan whose capital and number of shareholders
fulfill certain criteria or a perseroan undertaking public offers, pursuant to the laws in the capital market sector, hereinafter referred to as PT Tbk...
6. A corporate annual financial statement shall be a report consisting a corporate balance sheet, a corporate profit/loss statement, a cash flow statement, debts and claims, including bank loans, and a list of capital participation already audited by a public accountant or a government institute or a state high institute with the authority to issue an accountant’s report on the basis of the prevailing laws, hereinafter referred to as LKTP.
7. A public accountant shall be an accountant possessing a permit from the Minister of Finance to undertake the job of a public accountant and given a proxy from a perseroan to submit and list LKTP. 8. The Minister shall be the minister responsible in the trade sector.
CHAPTER II
OBLIGATION AND TIME OF REGISTRATION Article 2
(1) Every perseroan with the status of a head office, domiciled in and running its business activities in the territory of the Republic of Indonesia, shall be obligated to register LKTP at KPP of the central level. (2) At the time when this decree comes into force, a perseroan as meant in sub-article (1) shall refer only
to a perseroan :
a. which constitutes of PT Tbk;
b. whose business area is related to the mobilization of the funds from the community; c. which issues a debenture; or
d. which owns assets worth at least Rp. 50.000.000.000,00 (fifty billion rupiah). Article 3
(1) LKTP which must be registered shall include; a. a corporate balance sheet;
b. a corporate profit/loss statement; c. a cash flow statement;
d. debts and claims, including bank loans; e. a list of capital participation
(2) LKTP as meant in sub-article (1) shall include notes on the financial statement and the company’s profile
(3) The model and composition of LKTP as meant in sub-article (1) shall be made and adjusted on the basis of the generally prevailing Financial Accounting Standard.
(4) The model of the company’s profile as meant in sub-article (2) shall be stipulated in the attachment to this decree.
Article 4
(1) A perseroan shall be obligated to register LKTP at the latest 6 (six) months after the end of the book year
(2) The registration of LKTP as meant in sub-article (1) shall commence in the book year of 1998.
CHAPTER III
AUTHORITY, RESPONSIBILITY AND REPORTING IN THE ORGANIZATION OF LKTP REGISTRATION
Article 5
Article 6
(1) The Minister shall be authorized to stipulate the provisions on and procedure for the organization and execution of the registration of LKTP as well as the management of corporate annual financial information.
(2) The Minister shall appoint the Director General of Domestic Trade as the party providing technical fostering in the organization and execution of LKTP registration.
Article 7
(1) Pending the establishment of KPP at the central level, the Directorate for Corporate Registration shall act as KPP at the central level performing the function of organizing and executing LKTP registration. (2) The Director for corporate Registration, in his capacity as the head of KPP at the central level, shall be
responsible to the Minister and the obligated to report in writing for organization and execution of LKTP registration to the Minister through the Director General of Domestic Trade and to the Minister of Finance through the Director General of Financial Institutes of the Ministry of Finance.
Article 8
KPP at the central level as meant in Article 7 shall be assigned the following tasks;
a. preparing materials for the formulation of policies, plans and programs pertaining to the organization and execution of LKTP registration and the management of corporate annual financial information. b. Preparing materials, coordinating and fostering the organization and execution of LKTP registration
and the management of corporate annual financial information.
c. Observing and controlling the organization and execution of LKTP registration. d. Receiving, making note of and validating LKTP.
e. Gathering and presenting corporate annual financial information
f. Preparing human resources in the organization and execution of LKTP registration g. Preparing the budget to finance KPP at the central level
h. Conducting counseling in the framework of LKTP understanding and popularization
i. Promoting the benefit to corporate annual finance information the framework of corporate financial trancparency in relation to the community and business circles.
j. Providing service to the community and business circles it the framework of fulfilling the need for corporate annual financial information.
k. Submitting reports in writing on the activities of organizing and executing LKTP registration, as meant in Article (2) periodically once in 3 (three) months.
CHAPTER IV
PROCEDURE FOR THE ORGANIZATION OF LKTP REGISTRATION Article 9
LKTP registration as meant in Article 4 shall be undertaken by a public accountant or a state enterprise/an enterprise owned by a regional administration (BUMN/D) at the KPP of the central level and shall be free of charge.
Article 10
(1) The registration as meant in Article 9 shall be undertaken by means of submitting : a. LKTP in 3 (thee) fold and
b. A diskette or on an on-line basis through a computer containing the provision as meant in Article 3, either directly or through a courier service;
(2) LKTP as meant in sub-article (1) letter a shall be validated as evidence of the validation of LKTP registration.
Article 11
The formal and material truth of LKTP already validated by the head of KPP at the central level shall remain the responsibility of the perseroan.
CHAPTER V
CORPORATE ANNUAL FINANCIAL INFORMATION SERVICE Article 12
(1) LKTP already registered shall constitute an official information source regarding the company’s annual finance and be open in nature and can be supplied to the community by KPP at the central level. (2) The types of official information as meant in sub-article (1) shall be :
a. an official copy of LKTP, which shall constitute the copy of all the data found in the LKTP and validated by the head of the KPP at the central level;
b. official excerpts of LKTP, which shall constitute some of the data found in the LKTP and validated by the head of the KPP at the central level in the form of;
- an excerpt of the balance sheet;
- an excerpt of the corporate profit/loss statement; - an excerpt of the cash flow statement;
- an excerpt of debts and claims, including bank loans; - an excerpt a list of capital participation.
(3) The information as meant in sub-article (2) may be given in the form of a document.
(4) Other than in the form as meant in sub-article (3), the information may also be given in the form of a diskette, a CD-ROM or through the internet.
(5) The information as meant in sub-articles (3) and (4) may also be obtained through subscription or on the basis of a request against the payment of charges pursuant to the prevailing provision.
CHAPTER VI SANCTIONS
Article 13
(1) A perseroan failing too fulfill the provisions as meant in Article 2, 3 and 4 of this decree shall be subject to the imposition of criminal sanctions with the provisions regulated in Article 34 of UU-WDP. (2) Public accountants and state enterprises/enterprises owned by regional administrations (BUMN/D) failing to undertake registration as meant in Article 9 shall be subject to the imposition of sanctions on the basis of the prevailing laws.
CHAPTER VII CLOSING PROVISIONS
Article 14 This decree shall take effect as from the date of stipulation
For public cognizance this decree shall be promulgated by publishing it in the State Gazette of the Republic of Indonesia.
Stipulated in Jakarta On November 13, 1998
THE MINISTER OF INDUSTRI AND TRADE sgd
