AMENDMENT TO GOVERNMENT REGULATION NO.2/1996 ON THE ACTIVITIES OF COMPANIES SET UP UNDER FOREIGN CAPITAL INVESTMENTS IN THE EXPORT AND IMPORT SECTORS, AS ALREADY AMENDED BY GOVERNMENT REGULATION NO. 42/1997
(Government Regulation No. 16/1998, dated January 21, 1998) THE PRESIDENT OF THE REPUBLIC OF INDONESIA Considering:
a. that within the framework of national economic reforms and restructuring, it is necessary to grant opportunity to foreign investment companies established under Law No. 1/1967 to undertake activities as distributors/wholesalers or retailers;
b. that in connection with the above matter, it is deemed necessary to amend Government Regulation No.2/1996 on the activities of companies set up under foreign capital investments in the export and import sectors, as already amended by Government Regulation No.42/1997.
Ln view of:
1. Article 5 paragraph (2) of the Constitution of 1945;
2. Government Regulation No.2/1996 on the activities of companies set up under foreign capital investments in the export and import sectors, as already amended by Government Regulation No.42/1997.
DECIDES: To stipulate:
Article 1
To amend the provision in Article 2 paragraph (3) of Government Regulation No. 2/1996 on the activities of companies set up under foreign capital investments in the export and import sectors, as already amended by Government Regulation No.42/1997, so that it reads as follows:
Article 2
(3) The companies as meant in paragraph (1) shall be allowed to sell goods as retailers.
The companies as meant in paragraph (1) shall not be allowed to act as distributors/wholesalers and concurrently retailers.
Article 11
This government regulation shall come into force as from March 31, 1998. For Public cognizance, this government regulation shall be promulgated by publishing it in the Statute Book of the Republic of Indonesia.
Stipulated in Jakarta on January 21, 1998
THE PRESIDENT OF THE REPUBLIC OF INDONESIA sgd
S 0 E H A R T 0
Promulgated in Jakarta On January 21, 1998
THE MINISTER/STATE SECRETARY sgd
STATUTE BOOK OF THE REPUBLIC OF INDONESIA 1998 NUMBER 26 ELUCIDATION ON
GOVERNMENT REGULATION NO. 2/1996 ON THE ACTIVITIES OF COMPANIES SET UP UNDER FOREIGN CAPITAL INVESTMENTS IN THE EXPORT AND IMPORT SECTORS, AS ALREADY AMENDED BY
GOVERNMENT REGULATION NO.42/1997. GENERAL
The monetary turbulence prevailing lately has prompted the introduction of national economic reforms.
Within the framework of the said reforms, it is deemed necessary to further promote the participation of companies established under foreign capital investments in the export and import sectors. With the increasing role of the said companies, national export and import activities are expected to run more smoothly, which can eventually bring benefit to the public at large.
ARTICLE BY ARTICLE Article 1 :
Sufficiently clear Article 11 : Sufficiently clear
