FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 51 /POJK.04/2016

CONCERNING

PROCEDURES FOR REQUESTING CHANGES AND/OR ADDITIONAL INFORMATION REGARDING REGISTRATION STATEMENTS

BY THE GRACE OF GOD THE ALMIGHTY,

THE COMMISSIONERS 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 functions, duties, and authorities for regulating and supervising financial services activities in the Capital Market sector, including regulations concerning procedures for requesting changes and/or additional information regarding Registration Statements, have shifted from the Capital Market Supervisory Agency and Financial Institutions to the Financial Services Authority;

b. that in order to provide clarity and certainty regarding regulations on procedures for requesting changes and/or additional information regarding Registration Statements, regulations on procedures for requesting changes and/or additional information regarding Registration Statements need to be changed into a Financial Services Authority Regulation;

c. that based on considerations as referred to in letters a and b, it is necessary to establish a Financial Services Authority Regulation concerning Procedures for Requesting Changes and/or Additional Information Regarding Registration Statements;

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 PROCEDURES FOR REQUESTING CHANGES AND/OR ADDITIONAL INFORMATION REGARDING REGISTRATION STATEMENTS.

CHAPTER I

GENERAL PROVISIONS

Article 1

In this Financial Services Authority Regulation, the term "Registration Statement" refers to the document that must be submitted to the Financial Services Authority by the Issuer in the context of a Public Offering or by a Public Company.

CHAPTER II

PROCEDURES FOR REQUESTING CHANGES AND/OR ADDITIONAL INFORMATION REGARDING REGISTRATION STATEMENTS

Article 2

(1) The Financial Services Authority may request changes and/or additional information at any time before or after the Registration Statement becomes effective, if the Financial Services Authority considers that the information contained in the Registration Statement is insufficient, false, misleading, unclear, or still requires changes and/or additional information.

(2) Requests for changes and/or additional information as referred to in paragraph (1) may be made in writing or orally to the Issuer or Public Company.

Article 3

Within a period of 45 (forty-five) days after the submission of the first Registration Statement, the Financial Services Authority may request changes and/or additional information necessary to complete the Registration Statement or to ensure that all information or material facts for investors or the public are disclosed.

Article 4

Any changes and/or additional information requested by the Financial Services Authority after the 45 (forty-five) day period following the submission of the first Registration Statement must be based on the consideration that such changes and/or additional information are necessary to disclose all information or material facts to investors and the public.

Article 5

In the event that a request for changes and/or additional information as referred to in Article 2 paragraph (2) is made orally, the request must be recorded in the form of a memo for the archive, stating:
a. the matter requested; b. the party from whom changes and/or additional information are requested; and
c. the responses obtained orally.

Article 6

All changes and/or additional information submitted to the Financial Services Authority must first receive a response from the Financial Services Authority before the Registration Statement can be declared effective.

Article 7

Requests requiring changes and/or additional information regarding the Registration Statement will change the date of submission of the complete Registration Statement.

CHAPTER III

SANCTION PROVISIONS

Article 8

(1) Without prejudice to criminal provisions in the Capital Market sector, the Financial Services Authority has the authority to impose sanctions on any party that violates the provisions of this Financial Services Authority Regulation, including parties who 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 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 an administrative sanction 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 9

In addition to administrative sanctions as referred to in Article 8 paragraph (1), the Financial Services Authority may take specific actions against any party that violates the provisions of this Financial Services Authority Regulation.

Article 10

The Financial Services Authority may announce the imposition of administrative sanctions as referred to in Article 8 paragraph (1) and specific actions as referred to in Article 9 to the public.

CHAPTER IV

CLOSING PROVISIONS

Article 11

Upon the commencement of this Financial Services Authority Regulation, the Decision of the Chairman of the Capital Market Supervisory Agency Number: Kep-44/PM/1996 dated January 17, 1996 concerning Procedures for Requesting Changes and/or Additional Information Regarding Registration Statements, along with Regulation Number IX.A.3 which is its attachment, are revoked and declared invalid.

Article 12

This Financial Services Authority Regulation shall come into force on the date of its promulgation.

To ensure that everyone is aware of it, it is ordered to promulgate 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
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 2016 NUMBER 280

A copy in accordance with the original
Legal Director 1
Ministry of Law

signed

Yuliana

EXPLANATION

OF

FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 51 /POJK.04/2016

CONCERNING

PROCEDURES FOR SUSPENSION OF PUBLIC OFFERINGS

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 Agency and Financial Institutions to the Financial Services Authority.

In light of the above, it is necessary to restructure existing regulations, particularly those related to the Capital Market sector, by converting Capital Market Supervisory Agency and Financial Institutions regulations related to the Capital Market sector into Financial Services Authority Regulations. This restructuring 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 Procedures for Requesting Changes and/or Additional Information Regarding Registration Statements, namely the Decision of the Chairman of the Capital Market Supervisory Agency Number: Kep-44/PM/1996 dated January 17, 1996 concerning Procedures for Requesting Changes and/or Additional Information Regarding Registration Statements, along with Regulation Number IX.A.3 which is its attachment, into a Financial Services Authority Regulation concerning Procedures for Requesting Changes and/or Additional Information Regarding Registration Statements.

II. ARTICLE BY ARTICLE

Article 1
Sufficiently clear.

Article 2
Sufficiently clear.

Article 3
Sufficiently clear.

Article 4
Sufficiently clear.

Article 5
Sufficiently clear.

Article 6
Sufficiently clear.

Article 7
Sufficiently clear.

Article 8
Sufficiently clear.

Article 9
The term "specific actions" includes, among others:
a. postponement of the issuance of an effective statement, for example, an effective statement for a Registration Statement in the context of a Public Offering; and b. postponement of the issuance of a Financial Services Authority statement that there are no further responses to documents submitted to the Financial Services Authority in the context of capital increases with Preemptive Rights for Open Public Companies.

Article 10
Sufficiently clear.

Article 11
Sufficiently clear.

Article 12
Sufficiently clear.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 5976