Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number 15 of 2012 on Requirements and Procedures for Obtaining Approval as a Warehouse Operator

Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number: 15/BAPPEBTI/PER-SRG/07/2012 2 (State Gazette of the Republic of Indonesia Year 2007 Number 79, Supplement to the State Gazette of the Republic of Indonesia Number 4735);
4. Presidential Decree Number 84/P of 2009 concerning the Formation of the United Indonesia Cabinet II Period 2009-2014 as amended by Presidential Decree Number 59/P of 2011;
5. Presidential Decree Number 6/M of 2011 concerning the Appointment of Echelon I Officials within the Ministry of Trade;
6. Presidential Regulation Number 47 of 2009 concerning the Formation and Organization of State Ministries as amended several times, most recently by Presidential Regulation Number 91 of 2011 concerning the Third Amendment to Presidential Regulation Number 47 of 2009 concerning the Formation and Organization of State Ministries;
7. Presidential Regulation Number 24 of 2010 concerning the Position, Duties, and Functions of State Ministries as well as the Organization Structure, Duties, and Functions of Echelon I State Ministries as amended several times, most recently by Presidential Regulation Number 92 of 2011 concerning the Second Amendment to Presidential Regulation Number 24 of 2010 concerning the Position, Duties, and Functions of State Ministries as well as the Organization Structure, Duties, and Functions of Echelon I State Ministries;
8. Minister of Trade Regulation Number 31/M-DAG/PER/7/2010 concerning the Organization and Working Structure of the Ministry of Trade;
9. Minister of Trade Regulation Number 37/M-DAG/PER/11/2011 concerning Goods That Can Be Stored in Warehouses in the Implementation of the Warehouse Receipt System;

RESOLVES:
Determining: REGULATION OF THE HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY CONCERNING REQUIREMENTS AND PROCEDURES FOR OBTAINING APPROVAL AS A WAREHOUSE OPERATOR.

Article 1
(1) Business activities as a Warehouse Operator may only be conducted by legal entity business entities engaged in warehouse management services and have obtained Approval from Bappebti. (2) The Approval referred to in paragraph (1) is granted to legal entity business entities in the form of Limited Liability Companies, State-Owned Enterprises, Regional-Owned Enterprises, or Cooperatives.

Article 2
(1) Applications for Approval as a Warehouse Operator for business entities in the form of Limited Liability Companies, State-Owned Enterprises, or Regional-Owned Enterprises must meet the following requirements:
a. meet basic capital requirements of at least Rp1,500,000,000.00 (one billion five hundred million rupiah) with paid-up capital of at least Rp600,000,000.00 (six hundred million rupiah); b. have management with good moral integrity and business reputation;
c. control at least 1 (one) Warehouse that has received Approval from Bappebti; and
d. possess a Quality Management Certificate; and e. have personnel with the necessary competencies in warehouse and goods management.
(2) Applications for Approval as a Warehouse Operator for business entities in the form of Cooperatives must meet the following requirements:
a. meet own capital requirements of at least Rp250,000,000.00 (two hundred fifty million rupiah); b. have management with good moral integrity and business reputation;
c. control at least 1 (one) Warehouse that has received Approval from Bappebti;
d. possess Standard Operating Procedures supporting operational activities as a Warehouse Operator; e. have personnel with the necessary competencies in warehouse and goods management; and f. have a recommendation from the competent official in assessing the credibility of the cooperative at its domicile (residence).

Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number: 15/BAPPEBTI/PER-SRG/07/2012 4 Cooperative.
(3) For business entities partnering with warehousing companies that have at least 15 (fifteen) years of experience in warehouse management, the aforementioned business entities may be exempted from the financial requirements referred to in paragraph (1) letter a, and paragraph (2) letter a, as well as the quality management certification requirements referred to in paragraph (1) letter d.

Article 3
Competencies as referred to in Article 2 paragraph (1) letter e, and paragraph (2) letter e, are at least:
a. understanding regulations and legislation in the field of the Warehouse Receipt System; b. having expertise regarding the characteristics of stored goods;
c. having expertise regarding goods maintenance; and
d. having expertise regarding warehouse management administration.

Article 4
(1) Applications for Approval as a Warehouse Operator are submitted to Bappebti using Form Number SRG-PG07, accompanied by documents as required in Form Number SRG-PG07.A through Form Number SRG-PG07.D as listed in the Appendix of this Regulation. (2) Bappebti conducts research on the authenticity of documents according to the originals and evaluates the documents as required. (3) In the event that the results of document research and evaluation as referred to in paragraph (2) require an inspection of facilities and infrastructure at the company, Bappebti may conduct said inspection and create an inspection report using Form Number SRG-PG08 as listed in the Appendix of this Regulation. (4) Bappebti provides approval or rejection for obtaining approval as referred to in paragraph (1) no later than 25 (twenty-five) working days after the completeness of requirements is fulfilled. (5) Bappebti grants Approval as a Warehouse Operator using Form Number SRG-PG09 as listed in the Appendix of this Regulation. (6) Bappebti conveys rejection of the Warehouse Operator Approval application using Form Number SRG-PG10 as listed in the Appendix of this Regulation.

Article 5
(1) Changes to the name and/or address of the Warehouse Operator must be reported to Bappebti no later than 7 (seven) working days after the change.
(2) Changes to the name and/or address of the Warehouse Operator as referred to in paragraph (1) must be reported to Bappebti using Form Number SRG-PG11, accompanied by documents as required in Form Number SRG-PG11.A through Form Number SRG-PG11.D as listed in the Appendix of this Regulation.

Article 6
(1) Plans for changes in management and/or shareholders of the Warehouse Operator must be reported to Bappebti no later than 5 (five) working days before the change is implemented. (2) Plans for changes in management and/or shareholders of the Warehouse Operator as referred to in paragraph (1) must be reported to Bappebti using Form Number SRG-PG12, accompanied by documents as required in Form Number SRG-PG12.A through Form Number SRG-PG12.C as listed in the Appendix of this Regulation.

Article 7
(1) Warehouse Operators must submit the identity and specimen signatures of parties authorized to sign Warehouse Receipts to Bappebti.
(2) Plans for changes in parties authorized to sign Warehouse Receipts must be reported to Bappebti no later than 5 (five)

Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number: 15/BAPPEBTI/PER-SRG/07/2012 7

1. Minister of Trade of the Republic of Indonesia;
2. Deputy Minister of Trade of the Republic of Indonesia;
3. Secretary General of the Ministry of Trade;
4. Inspector General of the Ministry of Trade;
5. Secretaries and Heads of Bureaus within Bappebti.