Implementation of Electronic General Meetings of Shareholders, Bondholders, and Sukuk Holders

Regulation of the Financial Services Authority Number 14 of 2025 concerning the Implementation of Electronic General Meetings of Shareholders, Bondholders, and Sukuk Holders

Abstract:
The volume and geographical distribution of shareholders, bondholders, or sukuk holders create obstacles in the implementation of General Meetings of Shareholders (RUPS), General Meetings of Bondholders (RUPO), or General Meetings of Sukuk Holders (RUPSu), both in determining the location of the meeting and in meeting the quorum for attendance and the quorum for decision-making. To increase the efficiency and effectiveness of implementing RUPS, RUPO, or RUPSu and to mitigate the potential failure to achieve the attendance quorum, it is necessary to utilize developments in information technology in the organization of RUPS, RUPO, or RUPSu. As mandated in Article 8A paragraph (1) letter c and paragraph (3) of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK), the OJK has the authority to establish policies regarding the utilization of information technology in the organization of RUPS or other meetings based on applicable regulations. The drafting of this Financial Services Authority Regulation is carried out in order to issue a legal basis for the electronic implementation of RUPO and RUPSu by Issuers, to exercise the OJK's authority to establish policies regarding the utilization of information technology in the organization of RUPO and RUPSu as mandated by the UU P2SK, and to combine (codify) all provisions regarding the implementation of electronic general meetings of shareholders, general meetings of bondholders, and general meetings of sukuk holders into 1 (one) Financial Services Authority Regulation. The legal basis for this Financial Services Authority Regulation is: Law No. 8 of 1995 as amended by Law No. 4 of 2023; and Law No. 21 of 2011 as amended by Law No. 4 of 2023. This Financial Services Authority Regulation regulates, among other things, the implementation of electronic RUPS, RUPO, and RUPSu, the obligations of system providers, the procedures for implementing electronic RUPS, the rights of Bondholders and/or Sukuk Holders and the granting of Power of Attorney Electronically in electronic RUPO and/or RUPSu, the minutes of RUPS, RUPO, or RUPSu and the summary of RUPS, RUPO, and RUPSu minutes, as well as announcement media and announcement language.

Note:
This Financial Services Authority Regulation takes effect on the date of promulgation.
This Financial Services Authority Regulation was promulgated on July 1, 2025, and established on June 20, 2025.
At the time this Financial Services Authority Regulation takes effect, Financial Services Authority Regulation Number 16/POJK.04/2020 concerning the Implementation of Electronic General Meetings of Shareholders of Public Companies is revoked and declared invalid.
Explanation: 8 pages