FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 54 /POJK.04/2016

CONCERNING

PERIODIC REPORTS OF VALUATION ACTIVITIES

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, as of December 31, 2012, the functions, duties, and authority for the regulation and supervision of financial services activities in the Capital Market sector, including Valuers as a Capital Market Supporting Profession, have transferred from the Capital Market Supervisory Agency and Financial Institutions to the Financial Services Authority; b. that in order to provide clarity and certainty regarding the regulation of periodic reports of Valuation Activities, regulations concerning Periodic Reports of Valuation Activities issued prior to the establishment of the Financial Services Authority need to be changed into a Financial Services Authority Regulation;
c. that based on the considerations as referred to in letters a and b, it is necessary to establish a Financial Services Authority Regulation concerning Periodic Reports of Valuation Activities;

FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA

COPY

Recalling: 1. Law Number 8 of 1995 concerning the Capital Market (State Gazette of the Republic of Indonesia Year 1995 Number 64 Supplement to the 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 Supplement to the State Gazette of the Republic of Indonesia Number 5253);

DECIDING:

To establish: A FINANCIAL SERVICES AUTHORITY REGULATION CONCERNING PERIODIC REPORTS OF VALUATION ACTIVITIES.

CHAPTER I

GENERAL PROVISIONS

Article 1

In this Financial Services Authority Regulation, the following terms are defined as:

1. Valuer is a person who, with their expertise, carries out valuation activities in the Capital Market.
2. Public Valuation Service Firm, hereinafter abbreviated as KJPP, is a business entity in the form of a partnership that has obtained a business license from the Minister of Finance as a venue for Valuers to conduct valuation activities.
3. Periodic Report of Valuation Activities is a report containing information about activities related to Valuer assignments, including professional assignments, for 1 (one) year calculated from January 1 to December 31, or since registration with the Financial Services Authority if registered for less than 1 (one) year.
4. Property Valuation Report is a written report created by a Property Valuer containing the Property Valuer's opinion regarding the valuation object and presenting information about the valuation process.
5. Business Valuation Report is a written report created by a Business Valuer containing the Business Valuer's opinion regarding the Valuation Object and presenting information about the valuation process.
6. Assignor is a party that has obtained permission, approval, or registration from the Financial Services Authority and a party that submits a Registration Statement or whose Registration Statement has become effective.

CHAPTER II

PERIODIC REPORTS

Article 2

Valuers registered with the Financial Services Authority are required to submit Periodic Reports of Valuation Activities according to the scope of valuation activities for assignments from Assignors, namely:
a. Property Valuation Reports, which are prepared using the format of the Periodic Report of Valuation Activities for Property Valuation Services as contained in the Appendix which is an integral part of this Financial Services Authority Regulation; and/or b. Business Valuation Reports, which are prepared using the format of the Periodic Report of Valuation Activities for Business Valuation Services as contained in the Appendix which is an integral part of this Financial Services Authority Regulation.

Article 3

(1) Reports as referred to in Article 2 must be submitted annually to the Financial Services Authority no later than January 15 of the following year.
(2) In the event that January 15 falls on a holiday, the Valuer's Periodic Report as referred to in paragraph (1) must be submitted on the next working day.

Article 4

Periodic Reports of Valuation Activities must be accompanied by a report in the form of electronic document copies and completed with a statement letter regarding the truthfulness of the reported data and information using the Statement Letter format as contained in the Appendix which is an integral part of this Financial Services Authority Regulation.

Article 5

In the event that a Valuer works at a KJPP that has more than 1 (one) partner registered with the Financial Services Authority, Periodic Reports of Valuation Activities may be submitted simultaneously in 1 (one) cover letter signed by the head of the KJPP partnership.

CHAPTER III

SANCTION PROVISIONS

Article 6

(1) Without prejudice to criminal provisions in the Capital Market sector, the Financial Services Authority has the authority to impose administrative sanctions on any party that violates the provisions of this Financial Services Authority Regulation, including parties causing the violation, in the form 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. cancellation of registration; 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 prior imposition of administrative sanctions in the form of a written warning as referred to in paragraph (1) letter a. (3) Administrative sanctions in the form of a fine 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 7

In addition to administrative sanctions as referred to in Article 6 paragraph (1), the Financial Services Authority may take specific actions against any party that violates the provisions of this Financial Services Authority Regulation.

Article 8

The Financial Services Authority may announce the imposition of administrative sanctions as referred to in Article 6 paragraph (1) and specific actions as referred to in Article 7 to the public.

CHAPTER IV

CLOSING PROVISIONS

Article 9

Upon the commencement of this Financial Services Authority Regulation, the Decision of the Head of the Capital Market Supervisory Agency and Financial Institutions Number Kep-396/BL/2008 dated October 6, 2008 concerning Periodic Reports of Valuation Activities, along with Regulation Number X.J.4 which is its appendix, are revoked and declared invalid.

Article 10

This Financial Services Authority Regulation comes into force on the date of its enactment.

To ensure that everyone knows it, order the enactment 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

Enacted 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 2016 NUMBER 283

Copy matches the original
Director of Legal Affairs 1
Legal Department

signed
Yuliana

EXPLANATION

OF

FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 54 /POJK.04/2016

CONCERNING

PERIODIC REPORTS OF VALUATION ACTIVITIES

I. GENERAL

That as of December 31, 2012, the functions, duties, and authority for the regulation and supervision of financial services activities in the Capital Market, Insurance, Pension Funds, Financing Institutions, and Other Financial Service Institutions sectors have transferred from the Minister of Finance and the Capital Market Supervisory Agency and Financial Institutions to the Financial Services Authority.

In relation to the above, it is necessary to reorganize the structure of existing regulations, particularly those related to the Capital Market sector, by converting Capital Market-related regulations of the Capital Market Supervisory Agency 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 and aspects mentioned, it is necessary to replace the legislation in the Capital Market sector regulating Periodic Reports of Valuation Activities, namely the Decision of the Head of the Capital Market Supervisory Agency Number: Kep-396/PM/2008 dated October 6, 2008 concerning Periodic Reports of Valuation Activities, along with Regulation Number X.J.4 which is its appendix, into a Financial Services Authority Regulation concerning Periodic Reports of Valuation Activities.

II. ARTICLE BY ARTICLE

Article 1

Clearly sufficient.

Article 2

The obligation to submit Periodic Reports applies to Valuers who have received assignments and those who have not received assignments from Assignors during the reporting period.

Article 3

Clearly sufficient.

Article 4

In the event that the Financial Services Authority has provided an electronic system, the submission of Periodic Reports of Valuation Activities may be submitted through that electronic system.

Article 5

Clearly sufficient.

Article 6

Clearly sufficient.

Article 7

Clearly sufficient.

Article 8

Clearly sufficient.

Article 9

Clearly sufficient.

Article 10

Clearly sufficient.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 5979

APPENDIX

FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 54 /POJK.04/2016

CONCERNING

PERIODIC REPORTS OF VALUATION ACTIVITIES

FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA

PERIODIC REPORT OF VALUATION ACTIVITIES
PROPERTY VALUATION SERVICES FIELD

Period January 1 to December 31, 20....

Valuer Name : .........
Registration Number (STTD) : .........
Valuation Service Business : .........

No.	Client Name	Type of Property Valuation*)	Purpose of Valuation	Valuation Object	Date of Valuation	Opinion	Value
1	PT A
2	PT B
3	PT.... dst

Professional Valuation Assignments

Professional Valuation Assignment	Assignment Year -	Team Members	Start Date	End Date	Name	Position

Acknowledged,
(signature and stamp)
(Clear Name of UJP Head)
.......... (domicile), ...........(date)

Reporter,
(Signature)
(Clear Name)

Note: *) The definition of property is as referred to in the Legislation in the Capital Market sector regulating the Registration of Valuers Conducting Activities in the Capital Market. *) In the event that there is insufficient space, it can be detailed on a separate sheet for each assignment. In the event that there are columns that cannot be filled, a description must be provided.

PERIODIC REPORT OF VALUATION ACTIVITIES
BUSINESS VALUATION SERVICES FIELD

Period January 1 to December 31, 20....

Valuer Name : .........
Registration Number (STTD) : .........
Valuation Service Business : .........

No.	Client Name	Type of Business Valuation	Purpose of Valuation	Valuation Object	Date of Valuation	Opinion	Value
1	PT A
2	PT B
3	PT .... dst

Professional Valuation Assignments

Professional Valuation Assignment *)	Assignment Year -	Team Members	Start Date	End Date	Name	Position

Acknowledged,
(signature and stamp)
(Clear Name of UJP Head)
.......... (domicile), ...........(date)

Reporter,
(Signature)
(Clear Name)

Note:
*) In the event that there is insufficient space, it can be detailed on a separate sheet for each assignment.
In the event that there are columns that cannot be filled, a description must be provided.

STATEMENT LETTER

I, the undersigned below:
Name : ..............................................................
Registration Number (STTD) : ..............................................................
Date of STTD : ..............................................................
Name of KJPP : ..............................................................
Address : ..............................................................

hereby state with truthfulness that the data and information I report in the Periodic Report of Valuation Activities for the period January 1, 20..... to December 31, 20..... are true and can be accounted for.

If it is later discovered that the data and information I reported and this statement are not true, I am willing to be accountable in accordance with the applicable legislation.

........ (domicile), ………..…(date)

Reporter,
(Signature)
(Clear Name)

Established in Jakarta on December 2, 2016

CHAIRMAN OF THE COMMISSIONERS COUNCIL
FINANCIAL SERVICES AUTHORITY,

signed
MULIAMAN D. HADAD

Copy matches the original
Director of Legal Affairs 1
Legal Department

signed
Yuliana