Notaries Engaged in Capital Market Activities

COPY
FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 67 /POJK.04/2017
CONCERNING
NOTARIES ENGAGED IN CAPITAL MARKET ACTIVITIES
BY THE GRACE OF GOD THE ALMIGHTY
THE COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY, Considering: a. that in order to enhance the independence, competence, and professionalism of notaries engaged in capital market activities, it is necessary to refine the provisions of legislation concerning notaries engaged in capital market activities; b. that based on the considerations referred to in letter a, it is necessary to establish a Financial Services Authority Regulation concerning Notaries Engaged in Capital Market Activities; Recalling: 1. Law Number 8 of 1995 concerning Capital Markets (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);
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA

RESOLVES:
Establish: FINANCIAL SERVICES AUTHORITY REGULATION CONCERNING NOTARIES ENGAGED IN CAPITAL MARKET ACTIVITIES.

CHAPTER I
GENERAL PROVISIONS
Article 1
In this Financial Services Authority Regulation, the following terms are defined as:

1. Notary is a public official authorized to make authentic deeds and has other authorities as referred to in the Law concerning the Notary Office, who is registered with the Financial Services Authority as a capital market supporting profession to make authentic deeds required by legislation in the field of Capital Markets.
2. Notary Organization is a professional organization of the notary office in the form of a legal entity association, as referred to in the Law concerning the Notary Office.
3. Professional Education is basic education for Notaries with curriculum content on legislation in the field of capital markets and other financial services, organized by Notary Organizations, other parties cooperating with Notary Organizations, or parties approved or recognized by the Financial Services Authority.
4. Continuing Professional Education is advanced education for Notaries with curriculum content on legislation in the field of capital markets and other financial services, organized by Notary Organizations, other parties cooperating with Notary Organizations, or parties approved or recognized by the Financial Services Authority.
5. Periodic Report of Notary Activities is a report containing information about Notary activities in the capital market 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.
6. State Official is a state official as referred to in the Law concerning state civil apparatus.
7. Substitute Notary is a person temporarily appointed as a Notary to replace a Notary who is on leave, sick, or temporarily unable to perform their duties as a Notary, as referred to in the Law concerning the Notary Office.

CHAPTER II
NOTARY REGISTRATION
First Section
Notary Registration Requirements
Article 2
Notaries engaged in capital market activities must first be registered with the Financial Services Authority and meet the requirements as regulated in this Financial Services Authority Regulation.

Article 3
The registration requirements for Notaries as referred to in Article 2 include:
a. having been appointed as a notary by the ministry overseeing the notary field and having taken the notary oath by the competent authority; b. being a member of a Notary Organization;
c. having good character and morality;
d. never having committed disgraceful acts and/or being sentenced for proven criminal offenses in the field of financial services; e. acting independently, objectively, and professionally in conducting activities in the field of capital markets; f. obeying the code of ethics established by the Notary Organization; g. having expertise in the field of capital markets fulfilled through Professional Education programs with a minimum of 30 (thirty) professional credit units; h. not holding concurrent positions as other capital market supporting professions and/or other positions that are prohibited by legislation from being held concurrently with the notary position; and
i. never having been subjected to administrative sanctions in the form of cancellation of the registration certificate by the Financial Services Authority.

Second Section
Notary Registration Documents
Article 4
The application for registration of Notaries as capital market supporting professions is submitted to the Financial Services Authority using the Notary Registration Application Form for Capital Market Supporting Professions as contained in the Appendix which is an integral part of this Financial Services Authority Regulation.

Article 5
The registration application as referred to in Article 4 is accompanied by the following documents:
a. photocopy of a valid identity card; b. photocopy of the taxpayer identification number in the name of the notary concerned;
c. one (1) latest 4x6 cm color photograph with a red background;
d. photocopy of the appointment decision as a notary from the ministry overseeing the notary field and the notary oath minutes from the competent authority; e. photocopy of proof of membership in a Notary Organization; f. photocopy of the Professional Education certificate; and g. a stamped declaration letter drafted using the Notary Declaration Format as contained in the Appendix which is an integral part of this Financial Services Authority Regulation, stating that the notary:

1. has never committed disgraceful acts and/or been sentenced for proven criminal offenses in the field of financial services;
2. is willing to act independently, objectively, and professionally in conducting activities in the capital market;
3. does not hold concurrent positions as other capital market supporting professions and/or other positions that are prohibited by legislation from being held concurrently with the notary position; and
4. has never been subjected to administrative sanctions in the form of cancellation of the registration certificate by the Financial Services Authority.

Third Section
Review of Notary Registration Applications Engaged in Capital Market Activities
Article 6
In the course of reviewing notary registration applications engaged in capital market activities, if necessary, the Financial Services Authority may request additional documents to support the fulfillment of requirements as referred to in Article 5.

Article 7
If the registration application as referred to in Article 4 meets the requirements, the Financial Services Authority shall issue a capital market supporting profession registration certificate in the name of the applicant within a maximum of 45 (forty-five) days from the date of receiving the complete application.

Article 8
(1) If the registration application as referred to in Article 4 does not meet the requirements, the Financial Services Authority shall provide a notification letter to the applicant within a maximum of 45 (forty-five) days from the date of receiving the application, stating that:
a. the registration application is incomplete; or b. the registration application is rejected because it does not meet the requirements.
(2) If the Financial Services Authority does not provide a notification letter to the applicant within the period as referred to in paragraph (1), the registration application as referred to in Article 4 is deemed to have met the requirements.

Article 9
Applicants who do not complete the required document deficiencies and/or whose document deficiencies are not accepted by the Financial Services Authority within 45 (forty-five) days after the date of the notification letter, as referred to in Article 8 paragraph (1) letter a, are deemed to have cancelled the submitted notary registration application, and the applicant may submit a new application.

Article 10
Documents submitted to the Financial Services Authority become the property of the Financial Services Authority.

CHAPTER III
VALIDITY PERIOD AND RE-REGISTRATION OF NOTARY REGISTRATION CERTIFICATES
Article 11
(1) The capital market supporting profession registration certificate for Notaries has a validity period of 5 (five) years and a re-registration application may be submitted.
(2) If a Notary intends to submit a re-registration application for the capital market supporting profession registration certificate, the Notary concerned must first fulfill all obligations based on legislation in the financial services sector and/or Financial Services Authority decisions that have not been fulfilled. (3) Notaries who submit a re-registration application and have fulfilled all obligations as referred to in paragraph (2) will receive a new capital market supporting profession registration certificate with a validity period of 5 (five) years.

Article 12
(1) The re-registration application for the capital market supporting profession registration certificate as referred to in Article 11 paragraph (2) is submitted to the Financial Services Authority with the condition that the re-registration application is accepted by the Financial Services Authority:
a. at least 90 (ninety) days before the validity period of the capital market supporting profession registration certificate expires; and b. at most 90 (ninety) days after the validity period of the capital market supporting profession registration certificate expires. (2) The re-registration application for the capital market supporting profession registration certificate as referred to in paragraph (1) is submitted using the Re-registration Application Form for Capital Market Supporting Profession Registration Certificates as contained in the Appendix which is an integral part of this Financial Services Authority Regulation.

Article 13
If the validity period of the capital market supporting profession registration certificate for a Notary has expired, the Notary cannot conduct activities in the field of capital markets until the Financial Services Authority issues a capital market supporting profession registration certificate.

Article 14
In addition to the conditions as referred to in Article 13, a Notary cannot conduct activities in the capital market if the following conditions occur:
a. the capital market supporting profession registration certificate is cancelled by the Financial Services Authority; b. is under a sanction of suspension of the capital market supporting profession registration certificate; and/or
c. the Notary resigns or is dismissed as a notary as regulated in the Law concerning the Notary Office.

Article 15
(1) If the Financial Services Authority approves the re-registration application for the capital market supporting profession registration certificate as referred to in Article 11 paragraph (3), the Financial Services Authority issues a new capital market supporting profession registration certificate within a maximum of 25 (twenty-five) working days. (2) If the re-registration application for the capital market supporting profession registration certificate as referred to in Article 11 does not meet the requirements, the Financial Services Authority shall provide a notification letter to the applicant within a maximum of 25 (twenty-five) working days from the date of receiving the application, stating that:
a. the re-registration application is incomplete; or b. the re-registration application is rejected because it does not meet the requirements for re-registration.
(3) Applicants who do not complete the required document deficiencies and/or whose documents are not accepted by the Financial Services Authority within 45 (forty-five) days after the date of the notification letter as referred to in paragraph (2) letter a, are deemed to have cancelled the submitted re-registration application for the capital market supporting profession registration certificate.

Article 16
(1) A Notary is deemed to have resigned as a Notary registered with the Financial Services Authority if:
a. the Notary does not submit a re-registration application as referred to in Article 11 paragraph (1); or b. the submission of the re-registration application does not meet the requirements as referred to in Article 11 paragraph (2), within a maximum period of 90 (ninety) days after the expiration of the validity period of the capital market supporting profession registration certificate. (2) If a Notary is deemed to have resigned, the Financial Services Authority cancels the capital market supporting profession registration certificate. (3) The provisions as referred to in paragraph (1) letter a do not apply to Notaries whose capital market supporting profession registration certificates have been declared temporarily inactive by the Financial Services Authority because they have been appointed as State Officials.

CHAPTER IV
OBLIGATIONS AND PROHIBITIONS OF NOTARIES ENGAGED IN CAPITAL MARKET ACTIVITIES First Section Obligations of Notaries Engaged in Capital Market Activities
Article 17
(1) Notaries who have been registered with the Financial Services Authority are obligated to:
a. obey the notary code of ethics drafted by the Notary Organization; b. act independently, objectively, and professionally in performing their duties;
c. attend Continuing Professional Education at least once every 2 (two) years for a total of 5 (five) professional credit units;
d. submit Periodic Reports of Notary Activities to the Financial Services Authority no later than January 15 of the following year; e. report to the Financial Services Authority any changes concerning Notary data and information no later than 10 (ten) working days after the change occurs, accompanied by supporting documents, covering the following:

1. Notaries who resign or are dismissed in accordance with the Law concerning the Notary Office;
2. office address and/or work area;
3. status as a State Official;
4. extension of the term of office as a Notary, if any; and/or
5. receiving sanctions from competent authorities; and
   f. comply with summons and/or undergo examination by the Financial Services Authority regarding compliance with legislation in the capital market sector.
   (2) If January 15 as referred to in paragraph (1) letter d falls on a holiday, the report is submitted no later than 1 (one) working day thereafter.
   (3) A Notary is declared late in submitting the Periodic Report of Notary Activities if the report is submitted after the deadline for submission as referred to in paragraph (1) letter d or paragraph (2) up to 30 (thirty) days thereafter. (4) A Notary is declared late in submitting the data and information change report if the report is submitted after the deadline for submission as referred to in paragraph (1) letter e up to 30 (thirty) days thereafter. (5) If a Notary submits the Periodic Report of Notary Activities past the deadline as referred to in paragraph (2), the calculation of the number of days of delay in submitting the Periodic Report of Notary Activities is calculated from the first day after the deadline for submission as referred to in paragraph (2). (6) A Notary is declared not to have submitted the Periodic Report of Notary Activities as referred to in paragraph (1) letter d if the report has not been submitted after the deadline for late submission as referred to in paragraph (3). (7) A Notary is declared not to have submitted the data and information change report as referred to in paragraph (1) letter e if the report has not been submitted after the deadline for late submission as referred to in paragraph (4).

Article 18
The obligations as referred to in Article 17 paragraph (1) letter c begin to apply for the following year since the Notary obtained the capital market supporting profession registration certificate from the Financial Services Authority.

Article 19
If Continuing Professional Education is not held for a period of 2 (two) years, the Financial Services Authority may establish other provisions.

Article 20
(1) Reports as referred to in Article 17 paragraph (1) letter d and letter e must be submitted in printed document form.
(2) The report as referred to in Article 17 paragraph (1) letter d must be submitted using the Periodic Report of Notary Activities in the Capital Market format as contained in the Appendix which is an integral part of this Financial Services Authority Regulation.

Second Section
Prohibitions for Notaries Engaged in Capital Market Activities
Article 21
Notaries who have been registered with the Financial Services Authority are prohibited from:
a. transferring responsibility for capital market assignments to other parties not registered with the Financial Services Authority; and/or b. holding concurrent positions as other capital market supporting professions and/or other positions that are prohibited by legislation from being held concurrently with the notary position.

CHAPTER V
APPLICATION FOR TEMPORARY NON-CONDUCT OF ACTIVITIES IN CAPITAL MARKET (LEAVE)
Article 22
(1) If a Notary intends to take leave for a minimum period of 1 (one) year, the Notary must first submit a letter of application to the Financial Services Authority stating the duration of the leave.
(2) The letter of application as referred to in paragraph (1) is accompanied by the submission of the appointment of a Substitute Notary.
(3) Notaries subjected to administrative sanctions by the Financial Services Authority in the form of suspension of the capital market supporting profession registration certificate cannot submit a leave application as referred to in paragraph (1). (4) The duration of leave submitted to the Financial Services Authority is a maximum of 5 (five) years including extensions, or until the validity period of the capital market supporting profession registration certificate expires. (5) Notaries intending to extend the duration of leave must submit a letter of application to the Financial Services Authority no later than 10 (ten) working days before the leave time expires, accompanied by reasons. (6) Notaries intending to shorten the duration of leave must submit a letter of application to the Financial Services Authority no later than 10 (ten) working days before the date of expiration of the new leave period, accompanied by reasons. (7) If the application as referred to in paragraph (1) is approved by the Financial Services Authority, the capital market supporting profession registration certificate in the name of the concerned Notary will be declared temporarily inactive by providing a notification letter. (8) If the application as referred to in paragraph (1), paragraph (5), or paragraph (6) is not approved, the Financial Services Authority will provide a notification letter.

Article 23
(1) Notaries who are on leave as referred to in Article 22 paragraph (7):
a. are prohibited from conducting activities in the capital market; and b. are exempt from the obligations as referred to in Article 17 paragraph (1) letter c, letter d, and letter e until the end of the leave period. (2) If a Notary on leave as referred to in paragraph (1) appoints a Substitute Notary, the Notary concerned remains obligated to submit:
a. Periodic Reports of Notary Activities as referred to in Article 17 paragraph (1) letter d, regarding activities in the field of capital markets conducted by the Substitute Notary during the leave of the Notary being replaced; and b. Reports of data and information changes as referred to in Article 17 paragraph (1) letter e.

Article 24
If a Notary shortens the duration of leave as referred to in Article 22 paragraph (6), so that the duration of leave becomes less than 1 (one) year, the exemption as referred to in Article 23 paragraph (1) letter b no longer applies.

Article 25
If a Notary on leave as referred to in Article 22 paragraph (7) intends to resume activities in the capital market, the Notary:
a. submits a letter of application to the Financial Services Authority using the Re-activation Application Form as contained in the Appendix which is an integral part of this Financial Services Authority Regulation; and b. reports the list of changes in Notary data and information accompanied by supporting evidence, if any.

Article 26
The capital market supporting profession registration certificate of a Notary on leave will be declared active again by the Financial Services Authority by providing a notification letter, if the requirements as referred to in Article 25 have been met.

CHAPTER VI
RESIGNATION OF NOTARIES AS CAPITAL MARKET SUPPORTING PROFESSIONS
Article 27
If a Notary intends to resign, the Notary is obligated to submit a letter of application for cancellation of the capital market supporting profession registration certificate using the Application Form for Cancellation of Registration Certificates as contained in the Appendix which is an integral part of this Financial Services Authority Regulation.

Article 28
If the Financial Services Authority has approved the application for cancellation of the capital market supporting profession registration certificate:
a. the capital market supporting profession registration certificate in the name of the concerned Notary is cancelled and declared invalid; and b. the concerned Notary is prohibited from conducting activities in the capital market since the date of the decision letter on the cancellation of the capital market supporting profession registration certificate.

CHAPTER VII
SUBSTITUTE NOTARIES
Article 29
Substitute Notaries must first be registered with the Financial Services Authority to provide services in the field of capital markets.

Article 30
(1) The requirements, submission, and registration documents for Notaries as referred to in Article 3, Article 4, and Article 5 apply mutatis mutandis for Substitute Notaries to submit registration as capital market supporting professions to the Financial Services Authority, except for the provisions of Article 3 letter a and Article 5 letter d. (2) In addition to the requirements and documents as referred to in paragraph (1), Substitute Notaries are obligated to submit:
a. a letter of appointment as a Substitute Notary from the Notary being replaced; b. a photocopy of the Notary Supervisory Council decision regarding the leave of the Notary being replaced; and
c. a photocopy of the oath minutes as a Substitute Notary from the competent authority.
(3) The validity period of the capital market supporting profession registration certificate for Substitute Notaries is valid for 5 (five) years and a re-registration application may be submitted.

Article 31
(1) The capital market supporting profession registration certificate held by a Substitute Notary is inactive if the Notary being replaced has been declared active again by the Financial Services Authority as referred to in Article 26.

(2) A Substitute Notary may not engage in capital market activities if the certificate of registration as a capital market supporting profession held is not active as referred to in paragraph (1).

(3) The certificate of registration as a capital market supporting profession for a Substitute Notary that is not active as referred to in paragraph (1) may be applied to be activated again when the Notary being substituted is on leave, provided that the certificate of registration as a capital market supporting profession of the Substitute Notary is still valid as referred to in Article 30 paragraph (3).

(4) The application for reactivation as referred to in paragraph (3) is submitted by the Substitute Notary through the Notary being substituted at the time of the leave application request, in the application letter document as referred to in Article 22 paragraph (2) to the Financial Services Authority, attaching the requirements as referred to in Article 30 paragraph (2).

(5) The Financial Services Authority conveys notification of the reactivation of the certificate of registration as a capital market supporting profession for Substitute Notaries who have met the requirements as referred to in paragraph (4).

Article 32

The obligations and prohibitions applicable to Notaries in this Financial Services Authority Regulation apply mutatis mutandis to Substitute Notaries who engage in capital market activities, except for the provisions of Article 17 paragraph (1) letter d and letter e.

CHAPTER VIII

OTHER PROVISIONS

Article 33

(1) Notaries who are appointed and/or designated as State Officials:

a. convey notification regarding the appointment or designation as a State Official as referred to in Article 17 paragraph (1) letter e number 3;

b. the certificate of registration as a capital market supporting profession in the name of the respective Notary is declared temporarily inactive by the Financial Services Authority with a notification letter, and the Notary is prohibited from engaging in capital market activities; and

c. are exempted from the obligations as referred to in Article 17 paragraph (1) letter c, letter d, and letter e.

(2) Notaries who no longer hold office as State Officials and will resume engaging in capital market activities are required to follow the provisions as referred to in Article 25.

(3) The obligations as referred to in Article 17 paragraph (1) letter c and letter d must be fulfilled in the following year.

(4) In the event that the validity period of the certificate of registration as a capital market supporting profession for Notaries who no longer hold office as State Officials as referred to in paragraph (2) has expired, the submission of the application letter for reactivation as referred to in Article 25 must be submitted no later than 90 (ninety) days since the Notary no longer holds office as a State Official.

(5) The Financial Services Authority issues a new certificate of registration as a capital market supporting profession for Notaries who have met the provisions as referred to in paragraph (4).

(6) The certificate of registration as a capital market supporting profession as referred to in paragraph (5) has the same validity period as the remaining validity period of the certificate of registration as a capital market supporting profession before the Notary was declared temporarily inactive by the Financial Services Authority due to appointment as a State Official.

(7) To be able to engage in Capital Market activities again, Notaries who do not meet the provisions as referred to in paragraph (4) must first obtain a new certificate of registration as a capital market supporting profession by submitting a registration application as referred to in Article 4 and documents as referred to in Article 5 to the Financial Services Authority.

Article 34

In the event that Notaries and/or Substitute Notaries are subject to temporary dismissal, honorable dismissal, or dismissal with disgrace as referred to in the Law regarding notary positions, the respective Notaries and/or Substitute Notaries may not carry out activities in the capital market.

Article 35

In the event that the decision letter of appointment as a Notary from the ministry overseeing the notarial field and/or the notary oath minutes from the competent authority are cancelled, revoked, or become invalid, the respective certificate of registration as a capital market supporting profession is considered void and invalid.

Article 36

(1) In the event that the Financial Services Authority has provided an electronic system, the submission of registration as referred to in Article 4 and Article 30 paragraph (1), the application for re-registration as referred to in Article 11, and the reporting obligations as referred to in Article 17 paragraph (1) letter d and letter e must be submitted through said electronic system.

(2) In the event that the electronic system as referred to in paragraph (1) experiences technical disturbances or force majeure occurs, the submission of registration as referred to in Article 4 and Article 30 paragraph (1), the application for re-registration as referred to in Article 11, and/or the reporting obligations as referred to in Article 17 paragraph (1) letter d and letter e may be carried out in the form of printed documents.

CHAPTER IX

SANCTION PROVISIONS

Article 37

(1) Without prejudice to criminal provisions in the capital market field, 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 that cause the violation to occur, 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. revocation of business license;

f. cancellation of approval; and/or

g. cancellation of registration.

(2) Administrative sanctions as referred to in paragraph (1) letter b, letter c, letter d, letter e, letter f, or letter g may be imposed with or without being preceded by the 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) letter c, letter d, letter e, letter f, or letter g.

Article 38

In addition to administrative sanctions as referred to in Article 37 paragraph (1), the Financial Services Authority may take specific actions against any party that violates the provisions of this Financial Services Authority Regulation.

Article 39

The Financial Services Authority may announce the imposition of administrative sanctions as referred to in Article 37 paragraph (1) and specific actions as referred to in Article 38 to the public.

Article 40

Notaries and/or Substitute Notaries who do not follow Continuous Professional Education as referred to in Article 17 paragraph (1) letter c are subject to administrative sanctions in the form of suspension of the certificate of registration as a capital market supporting profession for 1 (one) year from the date of determination, or until the validity period of the certificate of registration as a capital market supporting profession ends, in the event that the validity period of the certificate of registration as a capital market supporting profession is less than 1 (one) year.

Article 41

Notaries and/or Substitute Notaries subject to administrative sanctions in the form of suspension of the certificate of registration as a capital market supporting profession as referred to in Article 40, during the suspension period, are exempted from the obligations as referred to in Article 17 paragraph (1) letter c, letter d, and letter e.

Article 42

(1) Notaries declared late in submitting:

a. Periodic Report on Notary Activities as referred to in Article 17 paragraph (3); and/or

b. reports of changes in data and information related to Notaries as referred to in Article 17 paragraph (4),

are subject to administrative sanctions in the form of fines as referred to in Article 37 paragraph (1) letter b, each amounting to Rp100,000.00 (one hundred thousand rupiah) per day of delay and at most Rp3,000,000.00 (three million rupiah) per report.

(2) Notaries declared not to have submitted:

a. Periodic Report on Notary Activities as referred to in Article 17 paragraph (6); and/or

b. reports of changes in data and information related to Notaries as referred to in Article 17 paragraph (7),

are subject to administrative sanctions in the form of fines as referred to in Article 37 paragraph (1) letter b, each amounting to Rp5,000,000.00 (five million rupiah) per report.

(3) For Notaries who have not submitted reports, in addition to being subject to administrative sanctions in the form of fines as referred to in paragraph (2), they remain obligated to submit reports as referred to in Article 17 paragraph (1) letter d and/or letter e.

CHAPTER X

TRANSITIONAL PROVISIONS

Article 43

Applications for registration to become Notaries that have been submitted to the Financial Services Authority before this Financial Services Authority Regulation takes effect and are still in the process of resolution, remain processed based on the provisions of Regulation Number VIII.D.1, appendix of the Decision of the Chairman of the Capital Market Supervisory Board Number Kep-37/PM/1996 regarding Registration of Notaries Engaged in Capital Market Activities.

Article 44

Notaries who already hold a certificate of registration as a capital market supporting profession before the effectiveness of this Financial Services Authority Regulation are required to:

a. submit an application for re-registration to the Financial Services Authority using the Re-registration Format as a Notary Engaged in Capital Market Activities as contained in the Appendix which is an inseparable part of this Financial Services Authority Regulation no later than 1 (one) year since this Financial Services Authority Regulation was promulgated; and

b. fulfill first all obligations based on financial services sector legislation and/or Financial Services Authority decisions that have not been fulfilled.

Article 45

In the event that Notaries do not submit an application for registration to the Financial Services Authority and fulfill the obligations as referred to in Article 44, the respective Notaries are considered to have resigned and the certificate of registration as a capital market supporting profession in the name of said Notary will be cancelled.

Article 46

In the event that Notaries have submitted an application for registration to the Financial Services Authority and fulfilled the obligations as referred to in Article 44, the Financial Services Authority will issue a replacement certificate of registration as a capital market supporting profession.

Article 47

The obligation to submit the Periodic Report on Notary Activities as referred to in Article 17 paragraph (1) letter d begins to take effect 1 (one) year since this Financial Services Authority Regulation was promulgated.

CHAPTER XI

CLOSING PROVISIONS

Article 48

At the time this Financial Services Authority Regulation takes effect, the Decision of the Chairman of the Capital Market Supervisory Board Number Kep-37/PM/1996 regarding Registration of Notaries Engaged in Capital Market Activities along with Regulation Number VIII.D.1 which is its appendix, are revoked and declared invalid.

Article 49

This Financial Services Authority Regulation takes effect on the date of its promulgation.

This copy is in accordance with the original

Director of Law 1
Department of Law signed
Yuliana

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

Established in Jakarta on 21 December 2017

CHAIRMAN OF THE COMMISSIONERS BOARD
FINANCIAL SERVICES AUTHORITY, signed
WIMBOH SANTOSO

Promulgated in Jakarta on 22 December 2017

MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA, signed
YASONNA H. LAOLY

STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2017 NUMBER 288

EXPLANATION
OF
FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 67 /POJK.04/2017
REGARDING
NOTARIES ENGAGED IN CAPITAL MARKET ACTIVITIES

I. GENERAL

Notaries engaged in capital market activities are notaries as referred to in the Law regarding notary positions who are registered with the Financial Services Authority and are authorized to make authentic deeds required in financial services sector legislation in the capital market field.

Notary activities in the capital market include, among others, making amendments to the articles of association in the context of public offerings by issuers or public companies, making minutes or resolutions of general meetings of shareholders, making collective investment contracts and/or making contracts and other agreements in the capital market. Based on these activities, the role of Notaries in the capital market is very important, so as one of the capital market supporting professions, Notaries are required to act independently, and continuously improve competence and professionalism in carrying out their activities or positions. This aims to ensure that Notaries can meet the needs of service users and uphold public trust, particularly in the capital market sector and generally in the financial services sector. To continue maintaining and improving this, Notaries are required to participate in Continuous Professional Education programs and report activities conducted in the capital market sector as well as changes to data and information related to Notaries to the Financial Services Authority. This is in line with the mandate of Law Number 8 of 1995 regarding Capital Markets and Law Number 21 of 2011 regarding the Financial Services Authority.

In light of the above, it is necessary to perfect regulations regarding Notaries engaged in capital market activities with the intent to support supervision, regulation, and oversight by the Financial Services Authority as well as equality with the regulation of other capital market supporting professions to realize orderly, fair, and efficient capital market activities and protect the interests of investors and the public.

II. ARTICLE BY ARTICLE EXPLANATION

Article 1

It is clear enough.

Article 2

It is clear enough.

Article 3

Letter a

It is clear enough.

Letter b

It is clear enough.

Letter d

It is clear enough.

Letter c

It is clear enough.

Letter e

It is clear enough.

Letter f

It is clear enough.

Letter g

The determination of the material and number of professional credit units from the implementation of Professional Education and the submission of participant recapitulation data for Professional Education is carried out based on coordination between the Notary Organization and the Financial Services Authority.

Letter h

It is clear enough.

Letter i

The term "Financial Services Authority" also includes the Capital Market Supervisory Board and Financial Institutions before the transfer of functions, duties, and authorities for regulation and oversight of financial services activities in the Capital Market sector from the Capital Market Supervisory Board and Financial Institutions to the Financial Services Authority based on Law Number 21 of 2011 regarding the Financial Services Authority.

Article 4

It is clear enough.

Article 5

Letter a

It is clear enough.

Letter b

It is clear enough.

Letter c

It is clear enough.

Letter d

It is clear enough.

Letter e

It is clear enough.

Letter f

It is clear enough.

Number 1

It is clear enough.

Number 2

It is clear enough.

Number 3

It is clear enough.

Number 4

The term "Financial Services Authority" also includes the Capital Market Supervisory Board and Financial Institutions before the transfer of functions, duties, and authorities for regulation and oversight of financial services activities in the Capital Market sector from the Capital Market Supervisory Board and Financial Institutions to the Financial Services Authority based on Law Number 21 of 2011 regarding the Financial Services Authority.

Article 6

Requests for additional documents by the Financial Services Authority are carried out by considering legislation regarding notary positions.

Article 7

It is clear enough.

Article 8

It is clear enough.

Article 9

It is clear enough.

Article 10

It is clear enough.

Article 11

Paragraph (1)

The calculation of the validity period of the certificate of registration as a capital market supporting profession for 5 (five) years mentioned includes the period when the Notary does not engage in capital market activities temporarily (leave) as referred to in Article 22.

Paragraph (2)

The term "all obligations based on financial services sector legislation and/or Financial Services Authority decisions that have not been fulfilled" includes, among others:

1. obligation to pay fines for administrative sanctions that have not been fulfilled;
2. obligation to fulfill Continuous Professional Education; and/or
3. obligation to pay levies.

Paragraph (3)

It is clear enough.

Article 12

It is clear enough.

Article 13

It is clear enough.

Article 14

It is clear enough.

Article 15

It is clear enough.

Article 16

It is clear enough.

Article 17

Paragraph (1)

Letter a

It is clear enough.

Letter b

It is clear enough.

Letter c

The determination of the material and number of professional credit units from the implementation of Continuous Professional Education and the submission of participant recapitulation data for Continuous Professional Education is carried out based on coordination between the Notary Organization and the Financial Services Authority.

Letter d

Activities reported in the Periodic Report on Notary Activities are only activities conducted in the capital market field. In the event that there are no activities in the capital market field in the reporting year, the Periodic Report on Notary Activities explains that the Notary has no activities in the capital market field in that year.

Letter e

It is clear enough.

Letter f

It is clear enough.

Paragraph (2)

It is clear enough.

Paragraph (3)

It is clear enough.

Paragraph (4)

It is clear enough.

Paragraph (5)

In the event that January 15, which is the deadline for submitting the Periodic Report on Notary Activities, falls on a Saturday, the Notary is required to submit the said report no later than 1 (one) working day thereafter, namely Monday. In the event that the Notary submits the Periodic Report on Notary Activities after the deadline of the next working day, namely Monday, for example submitted on Wednesday, the calculation of the delay in submitting the report is counted from Tuesday. Thus, the Notary experiences a delay in submitting the Periodic Report on Notary Activities for 2 (two) days.

Paragraph (6)

It is clear enough.

Paragraph (7)

It is clear enough.

Article 18

It is clear enough.

Article 19

It is clear enough.

Article 20

It is clear enough.

Article 21

It is clear enough.

Article 22

Paragraph (1)

It is clear enough.

Paragraph (2)

It is clear enough.

Paragraph (3)

It is clear enough.

Paragraph (4)

It is clear enough.

Paragraph (5)

As an example:

Notary A has submitted a leave application to the Financial Services Authority for 3 (three) years from June 1, 2016 to June 1, 2019.

If Notary A wants to extend the leave period by one year to June 1, 2020, Notary A must submit a notification letter to the Financial Services Authority no later than May 18, 2019 (10 working days before June 1, 2019).

Paragraph (6)

As an example:

Notary A has submitted a leave application to the Financial Services Authority for 3 (three) years from June 1, 2016 to June 1, 2019.

If Notary A wants to shorten the leave period before June 1, 2019 to June 1, 2018, Notary A must submit a notification letter to the Financial Services Authority no later than May 18, 2018 (10 working days before June 1, 2018).

Paragraph (7)

It is clear enough.

Paragraph (8)

It is clear enough.

Article 23

It is clear enough.

Article 24

It is clear enough.

Article 25

It is clear enough.

Article 26

It is clear enough.

Article 27

It is clear enough.

Article 28

It is clear enough.

Article 29

It is clear enough.

Article 30

It is clear enough.

Article 31

It is clear enough.

Article 32

It is clear enough.

Article 33

Paragraph (1)

It is clear enough.

Paragraph (2)

It is clear enough.

Paragraph (3)

It is clear enough.

Paragraph (4)

It is clear enough.

Paragraph (5)

Notary A obtained a certificate of registration as a capital market supporting profession in January 2015.

The certificate of registration as a capital market supporting profession is valid until January 2020.

In August 2018, Notary A was appointed as a State Official and submitted notification regarding the appointment or designation as a State Official to the Financial Services Authority, which was subsequently declared temporarily inactive by the Financial Services Authority when the remaining validity period of the certificate of registration as a capital market supporting profession was still 1 year and 5 months.

Notary A ceased to be a State Official in August 2023 and submitted an application for reactivation in September 2023 (less than 90 (ninety) days since Notary A ceased to hold office as a State Official).

The Financial Services Authority will issue a new certificate of registration as a capital market supporting profession to Notary A with a validity period until February 2025.

Paragraph (7)

It is clear enough.

Article 34

It is clear enough.

Article 35

It is clear enough.

Article 36

It is clear enough.

Article 37

It is clear enough.

Article 38

It is clear enough.

Article 39

It is clear enough.

Article 40

It is clear enough.

Article 41

It is clear enough.

Article 42

It is clear enough.

Article 43

It is clear enough.

Article 44

Letter a

It is clear enough.

Letter b

The term "all obligations based on financial services sector legislation and/or Financial Services Authority decisions that have not been fulfilled" includes, among others:

1. obligation to pay fines for administrative sanctions that have not been fulfilled; and/or
2. obligation to pay levies.

Article 45

It is clear enough.

Article 46

It is clear enough.

Article 47

It is clear enough.

Article 48

It is clear enough.

Article 49

It is clear enough.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 6156