FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 41 /POJK.04/2016

REGARDING

REGISTRATION STATEMENTS IN THE FRAMEWORK OF PUBLIC OFFERINGS OF CORPORATE-FORM MUTUAL FUNDS

BY THE GRACE OF GOD THE ALMIGHTY,
THE COMMISSIONERS COUNCIL OF THE FINANCIAL SERVICES AUTHORITY,

Considering:
a. that with the enactment of Law Number 21 of 2011 concerning the Financial Services Authority, since December 31, 2012, the regulation and supervision of financial services activities in the Capital Market sector, including Corporate-Form Mutual Funds, have shifted from the Capital Market Supervisory Body and Financial Institutions to the Financial Services Authority; b. that in order to provide clarity and certainty regarding regulations on Registration Statements in the framework of Public Offerings of Corporate-Form Mutual Funds, it is necessary to replace the regulations regarding Registration Statements in the Framework of Public Offerings of Corporate-Form Mutual Funds issued prior to the establishment of the Financial Services Authority with a Financial Services Authority Regulation;
c. that based on the considerations referred to in letters a and b, it is necessary to establish a Financial Services Authority Regulation regarding Registration Statements in the Framework of Public Offerings of Corporate-Form Mutual Funds;

Recalling: 1. Law Number 8 of 1995 concerning the Capital Market (State Gazette of the Republic of Indonesia Year 1995 Number 64 Addition to State Gazette of the Republic of Indonesia Number 3608);
2. Law Number 21 of 2011 concerning the Financial Services Authority (State Gazette of the Republic of Indonesia Year 2011 Number 111 Addition to State Gazette of the Republic of Indonesia Number 5253);

DECIDING TO:
Establish: FINANCIAL SERVICES AUTHORITY REGULATION REGARDING REGISTRATION STATEMENTS IN THE FRAMEWORK OF PUBLIC OFFERINGS OF CORPORATE-FORM MUTUAL FUNDS.

CHAPTER I

GENERAL PROVISIONS

Article 1

In this Financial Services Authority Regulation, what is meant by Corporate-Form Mutual Fund is an Issuer whose business activity involves raising funds by selling stocks and subsequently investing the funds from the sale of such stocks into various types of Securities traded in the Capital Market and money market.

CHAPTER II

REGISTRATION STATEMENTS IN THE FRAMEWORK OF PUBLIC OFFERINGS OF CORPORATE-FORM MUTUAL FUNDS

Article 2

Registration Statements in the framework of Public Offerings of Corporate-Form Mutual Funds are submitted by the Board of Directors of the Corporate-Form Mutual Fund in the following manner:

a. submitting the Registration Statement by filling out the Registration Statement form, the shape and content of which are in accordance with the format of the Letter of Registration Statement in the Framework of Public Offerings of Corporate-Form Mutual Funds as contained in the Appendix which is an inseparable part of this Financial Services Authority Regulation; and b. the Registration Statement as referred to in letter a is submitted in quadruplicate (4 copies).

Article 3

Registration Statements must be submitted at the latest 6 (six) months after obtaining the business license.

Article 4

In the event that the Registration Statement as referred to in Article 2 letter a does not meet the requirements or meets the requirements, the Financial Services Authority issues a notification letter to the applicant stating that:
a. the Registration Statement is incomplete; or b. the Registration Statement is declared effective by the Financial Services Authority.

CHAPTER III

SANCTION PROVISIONS

Article 5

(1) Without prejudice to criminal provisions in the field of Capital Markets, the Financial Services Authority has the authority to impose administrative sanctions on any party who violates the provisions of this Financial Services Authority Regulation, including parties who cause the violation to occur, consisting of:
a. written warning; b. fine, namely the obligation to pay a certain amount of money;
c. restriction of business activities;
d. suspension of business activities; e. revocation of business license; f. cancellation of approval; and g. cancellation of registration.

(2) Administrative sanctions as referred to in paragraph (1) letters b, c, d, e, f, or g may be imposed with or without being preceded by the imposition of an administrative sanction consisting of a written warning as referred to in paragraph (1) letter a.

(3) Administrative sanctions consisting of fines as referred to in paragraph (1) letter b may be imposed separately or together with the imposition of administrative sanctions as referred to in paragraph (1) letters c, d, e, f, or g.

Article 6

In addition to administrative sanctions as referred to in Article 5 paragraph (1), the Financial Services Authority may take specific actions against any party who violates the provisions of this Financial Services Authority Regulation.

Article 7

The Financial Services Authority may announce the imposition of administrative sanctions as referred to in Article 5 paragraph (1) and specific actions as referred to in Article 6 to the public.

CHAPTER IV

CLOSING PROVISIONS

Article 8

Upon the implementation of this Financial Services Authority Regulation, the Decision of the Chairman of the Capital Market Supervisory Body Number: Kep-52/PM/1996 dated January 17, 1996 regarding Registration Statements in the Framework of Public Offerings of Corporate-Form Mutual Funds along with Regulation Number IX.C.4 which is its appendix, is revoked and declared invalid.

Article 9

This Financial Services Authority Regulation comes into force upon the date of its promulgation.

To ensure that everyone knows it, ordering the promulgation of this Financial Services Authority Regulation by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta on December 2, 2016
CHAIRMAN OF THE COMMISSIONERS COUNCIL
FINANCIAL SERVICES AUTHORITY

signed
MULIAMAN D. HADAD

Promulgated in Jakarta on December 7, 2016
MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA,

signed
YASONNA H. LAOLY

STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR NUMBER 270 Copy in accordance with the original Director of Legal Affairs 1 Ministry of Law

signed
Yuliana

EXPLANATION

OF
FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 41 /POJK.04/2016
REGARDING
REGISTRATION STATEMENTS IN THE FRAMEWORK OF PUBLIC OFFERINGS OF CORPORATE-FORM MUTUAL FUNDS

I. GENERAL

That since December 31, 2012, the functions, duties, and authorities for regulating and supervising financial services activities in the Capital Market, Insurance, Pension Funds, Financing Institutions, and Other Financial Service Institutions have shifted from the Minister of Finance and the Capital Market Supervisory Body and Financial Institutions to the Financial Services Authority.

In relation to the above, it is necessary to reorganize the existing regulatory structure, particularly those related to the Capital Market sector, by converting Capital Market-related Regulations of the Capital Market Supervisory Body and Financial Institutions into Financial Services Authority Regulations. This reorganization is carried out so that there are Financial Services Authority Regulations related to the Capital Market sector that are consistent with Financial Services Authority Regulations in other sectors.

Based on the background thinking and aspects thereof, it is necessary to replace legislation in the Capital Market sector governing Registration Statements in the Framework of Public Offerings of Corporate-Form Mutual Funds, namely the Decision of the Chairman of the Capital Market Supervisory Body Number: Kep-52/PM/1996 dated January 17, 1996 regarding Registration Statements in the Framework of Public Offerings of Corporate-Form Mutual Funds along with Regulation Number IV.A.5 which is its appendix, into a Financial Services Authority Regulation regarding Registration Statements in the Framework of Public Offerings of Corporate-Form Mutual Funds.

II. ARTICLE BY ARTICLE

Article 1
Clear enough.

Article 2
Clear enough.

Article 3
Clear enough.

Article 4
Clear enough.

Article 5
Clear enough.

Article 6
Clear enough.

Article 7
Clear enough.

Article 8
Clear enough.

Article 9
Clear enough.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 5966

APPENDIX

FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 41 /POJK.04/2016
REGARDING
REGISTRATION STATEMENTS IN THE FRAMEWORK OF PUBLIC OFFERINGS OF CORPORATE-FORM MUTUAL FUNDS

FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA

REGISTRATION STATEMENT IN THE FRAMEWORK OF PUBLIC OFFERING OF CORPORATE-FORM MUTUAL FUND

Hereby we submit the Registration Statement in the framework of Public Offering of .............. shares with a value per share of Rp..............

I. Issuer

1. Mutual Fund Name : ...................................
2. Company Tax Identification Number (NPWP)
   : ...................................
3. Address : ...................................
4. Telephone Number : ...................................
   Telex : ...................................
   Facsimile : ...................................
5. Board of Directors Members
   Name Nationality Address a. b. c. d. e.
6. a. Deed of Establishment Number and Date
   : ...................................
   Number : .................................20....
   Appendix :
   Subject : Registration Statement
   In the Framework of
   Public Offering
   Mutual Fund
   ......................
   To:
   Executive Head of Capital Market Supervisor
   Financial Services Authority in –
   Jakarta

b. Number and Date of Approval and Consent of the Ministry of Justice
: ...................................
7. Open/Closed Mutual Fund
: ...................................
8. Capital Structure
a. Authorized Capital : ...................................
b. Paid-up Placed Capital
: ...................................
9. Type of Shares Issued
: ...................................

II. Investment Manager

1. Name : ...................................
2. Address : ...................................
3. Company Tax Identification Number (NPWP)
   : ...................................
4. Board of Directors and Board of Commissioners Members
   : ...................................
   Name Nationality Address a. b. c. d. e.

III. Custodian Bank

1. Name : ...................................
2. Address : ...................................
3. Company Tax Identification Number (NPWP)
   : ...................................
4. Board of Directors and Board of Commissioners Members
   : ...................................
   Name Nationality Address a. b. c. d. e.

IV. Accountant

1. Name : ...................................
2. Address : ...................................
3. Tax Identification Number (NPWP)
   : ...................................
4. Registration Number at
   Financial Services Authority
   : ...................................

V. Legal Consultant

1. Name : ...................................
2. Address : ...................................
3. Tax Identification Number (NPWP)
   : ...................................
4. Registration Number at
   Financial Services Authority
   : ...................................

VI. Underwriter of Securities

(if any)

1. Name : ...................................
2. Address : ...................................
3. Company Tax Identification Number (NPWP)
   : ...................................
4. Business License Number and Date
   from Financial Services Authority
   : ...................................

VII. The total number of pages of this Registration Statement is …. pages.

VIII. List of attached documents:

1. Schedule plan for issuance.
2. Final draft Prospectus (stamped and signed by all parties).
3. Stock specimen.
4. Example forms:
   a. Order form for purchasing Securities; b. Securities Registration Form.
5. Photocopy of securities printing contract.
6. Notarized contracts/agreements:
   a. Underwriting Agreement between:

1. Issuer and Underwriter (if any);
2. Underwriter and Selling Agent (if any);
   b. Preliminary Agreement with Stock Exchange (if any); and
   c. Contract with Securities Administration Bureau (if any).

7. Legal audit report and legal opinion on relevant documents including contracts and prospectuses.
8. Audited financial reports and accountant's opinion.
9. Photocopies of Tax Identification Numbers (NPWP) of the Mutual Fund and each member of the Board of Directors.
10. Photocopies of ID cards and nationality of each member of the Board of Directors, and major shareholders (for foreigners, copy of passport and work permit).
11. Curriculum vitae of each member of the Board of Directors.
12. Photocopies of proof of registration of capital market supporting professions:
    a. Notary; b. Legal consultant;
    c. Accountant.
13. Statement letter from each member of the Board of Directors that they are not involved in litigation (statement stamped).
14. Answers to questions contained in the Questionnaire and Director Affiliation List and every Party exercising control over the company (List A) and explanations for "yes" answers (List B).

THE STATEMENTS OR INFORMATION CONTAINED IN THE REGISTRATION STATEMENT ARE TRUE AND THERE ARE NO MATERIAL FACTS OMITTED FROM THE REGISTRATION STATEMENT REQUIRED SO THAT THE REGISTRATION STATEMENT IS NOT MISLEADING.

PT. MUTUAL FUND .........................
Stamp
.............................................
Full Name

QUESTIONNAIRE

I. INSTRUCTIONS FOR ANSWERING QUESTIONS:

1. All questions must be answered by every member of the Board of Directors and Parties exercising control over the company.
2. Place a check mark √ in the box in front of the word "Yes", if your answer is "Yes", or place a check mark √ in the box in front of the word "No" if your answer to the following question is "No". For every "Yes" answer, every member of the Board of Directors and Party exercising control over the company must provide detailed and clear answers in List B, among others containing:
   a. companies and related parties; b. cases and dates of actions taken;
   c. courts or agencies taking action;
   d. actions and sanctions imposed.

II. INTEGRITY OF EACH BOARD MEMBER AND EVERY PARTY EXERCISING CONTROL OVER THE COMPANY.

Definition:
Investment is an activity involving Securities, banking, insurance, or real estate/business, including activities directly or indirectly related to Securities Companies, Investment Advisors, and other companies engaged in financial business.

Answer the following questions:

1. In the last 10 (ten) years, have you ever been convicted, pleaded guilty, or nolo contendere to charges of:
   a. Criminal offenses or crimes involving Investment or businesses related to investment, fraud, false statements, embezzlement, bribery, forgery, or extortion?  yes  no b. Or other crimes?  yes  no
2. Has the court:
   a. Ever ruled that you are bankrupt?
    yes  no b. In the last 10 (ten) years, prohibited you from engaging in activities related to Investment?
    yes  no
   c. Ever ruled that you caused an investment-related business, its business license, or permission to conduct business to be denied, suspended, revoked, or limited?
    yes  no
3. Has the Financial Services Authority ever:
   a. Found you making false statements or committing negligence?
    yes  no b. Found you involved in violations of applicable laws and regulations?
    yes  no
   c. Found you causing the denial, suspension, revocation, or limitation of your business license or permission to conduct investment-related business?
    yes  no d. Denied, temporarily suspended, or revoked your business license, sanctioned you by restricting your activities?  yes  no
4. Have other competent institutions/agencies in Indonesia or other countries ever:
   a. Found you making false statements or failing to state true facts, dishonest, unfair, or unethical?
    yes  no b. Found you involved in violations of Investment regulations or applicable laws and regulations?
    yes  no
5. Has a Stock Exchange ever:
   a. Found you making false statements or failing to state the truth.
    yes  no b. Found you involved in violations of applicable laws and regulations?
    yes  no
   c. Found you causing the business license or approval to conduct business of a Mutual Fund related to Investment to be suspended, revoked, or limited?
    yes  no d. Taken disciplinary action against you by expelling or suspending membership, preventing or suspending relations with other members, or restricting activities?  yes  no
6. Have courts of other countries, regulatory bodies, or Stock Exchanges ordered action to be taken against you in connection with Investment or fraud?
    yes  no
7. Are you currently facing litigation in court?
    yes  no
8. Has an insurance company ever refused to pay or cancelled your coverage?
    yes  no
9. Do you have obligations based on court decisions or other agreements made with other parties that cannot be fulfilled?
    yes  no
10. Have you ever been a member of the Board of Directors and/or Board of Commissioners of a Securities Company, Individual Investment Advisor, or Party exercising control over a Securities Company that was declared bankrupt?
     yes  no

................., ...........................
The declarant
..........................................
(full name)

LIST A
DIRECTOR AFFILIATIONS
This list contains information about Affiliations of all Board of Directors members with:

1. The Mutual Fund itself besides as a Board of Directors member;
2. The Securities Company acting as its Investment Manager;
3. The Custodian Bank;
4. Accountants or Legal Consultants who will provide or provide professional services to the Mutual Fund and/or Affiliates of said profession;
5. Other Securities Companies; and
6. Individuals having important and relevant business relationships or professional relationships with the aforementioned Mutual Fund, Mutual Fund Investment Manager, or other Mutual Funds.
   Place a check mark √ if there is an affiliation Full Name Board Member/Party exercising control Affiliation as explained above with numbers 1 2 3 4 5 6

LIST B
EXPLANATION OF "YES" ANSWERS
Questionnaire Numbers 1 to 10.
Filled with detailed explanations for "yes" answers to questions numbers 1 to 10.
No Question Number/List Explanation
..............., ......................... 20..
The declarant stamp
..............................................
(Full Name)

Established in Jakarta on December 2, 2016
CHAIRMAN OF THE COMMISSIONERS COUNCIL
FINANCIAL SERVICES AUTHORITY

signed
MULIAMAN D. HADAD

Copy in accordance with the original
Director of Legal Affairs 1
Ministry of Law

signed
Yuliana