Ministry of Trade Republic of Indonesia REGULATION OF MINISTER OF TRADE OF THE REPUBLIC OF INDONESIA NUMBER: 33/M-DAG/PER/8/2008 CONCERNING

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1 Ministry of Trade Republic of Indonesia REGULATION OF MINISTER OF TRADE OF THE REPUBLIC OF INDONESIA NUMBER: 33/M-DAG/PER/8/2008 CONCERNING PROPERTY TRADE INTERMEDIARY COMPANY BY THE GRACE OF GOD THE ALMIGHTY THE MINISTER OF TRADE OF THE REPUBLIC OF INDONESIA Considering : a. whereas the trade property activity carried out by the company or individual has developed rapidly, both the number and value of business actors or property sale value, in line with the development of the Indonesian economy; b. whereas to create the legal certainty, business certainty, consumer protection, prevention of unhealthy business competition, as well as as an effort to support the increase in business activity in property sector, the expansion of job vacancy, and increase in competitiveness, it is necessary to regulate the property trade intermediary company; c. whereas in this respect, it is necessary to stipulate the Regulation of Minister of Trade; Recalling : 1. Bedrijfsreglementerings Ordonantie 1934 (State Gazette of 1938 Number 86); 2. Law of the Republic of Indonesia Number 3 of 1982 concerning Company Register (State Gazette of the

2 Republic of Indonesia of 1982 Number 7, Supplement of State Gazette of the Republic of Indonesia Number 3214); 3. Law of the Republic of Indonesia Number 5 of 1999 concerning Prohibition of Monopoly Practice and Unfair Business Competition (State Gazette of the Republic of Indonesia of 1999 Number 33, Supplement of State Gazette of the Republic of Indonesia Number 3817); 4. Law of the Republic of Indonesia Number 8 Of 1999 concerning Consumer Protection (State Gazette of the Republic of Indonesia of 1999 Number 42, Supplement of State Gazette of the Republic of Indonesia Number 3821); 5. Law of the Republic of Indonesia Number 32 of 2004 concerning Regional Government (State Gazette of the Republic of Indonesia of 2004 Number 125, Supplement Number 4437) as already amended several times, recently by the Law of the Republic of Indonesia Number 12 of 2008 (State Gazette Indonesia of 2008 Number 59, Supplement of State Gazette of the Republic of Indonesia Number 4844); 6. Law of the Republic of Indonesia Number 25 of 2007 concerning Investment (State Gazette of the Republic of Indonesia of 2007 Number 67, Supplement of State Gazette of the Republic of Indonesia Number 4724); 7. Law of the Republic of Indonesia Number 40 of 2007 concerning Limited Liability Company (State Gazette of the Republic of Indonesia of 2007 Number 106, Supplement of State Gazette of the Republic of Indonesia Number 4756); 2

3 8. Law of the Republic of Indonesia Number 20 of 2008 concerning Micro, Small and Medium Scale Business (State Gazette of the Republic of Indonesia of 2008 Number 93, Supplement of State Gazette of the Republic of Indonesia Number 4866); 9. Government Regulation of the Republic of Indonesia Number 1 of 1957 concerning Company Distribution (State Gazette of the Republic of Indonesia of 1957 Number 7, Supplement Number 1144), as already amended several times, recently by the Government Regulation of the Republic of Indonesia Number 53 of 1957 (State Gazette of the Republic of Indonesia of 1957 Number 150, Supplement of State Gazette of the Republic of Indonesia Number 1467); 10. Government Regulation of the Republic of Indonesia Number 44 of 1997 concerning Partnerships (State Gazette of the Republic of Indonesia of 1997 Number 91, Supplement of State Gazette of the Republic of Indonesia Number 3718); 11. Government Regulation of the Republic of Indonesia Number 23 of 2004 concerning Professional Certification National Board (State Gazette of the Republic of Indonesia of 2004 Number 78, Supplement of State Gazette of the Republic of Indonesia Number 4408); 12. Government Regulation of the Republic of Indonesia Number 38 of 2007 concerning regarding Distribution of Governmental Affairs between the Government, the Provincial Government and District Government (State Gazette of the Republic of Indonesia of 2007 Number 82, Supplement of State Gazette of the Republic of Indonesia Number 4737); 3

4 13. Government Regulation of the Republic of Indonesia Number 42 of 2007 concerning Franchise (State Gazette of the Republic of Indonesia of 2007 Number 90, Supplement of State Gazette of the Republic of Indonesia Number 4742); 14. Decree of the President of the Republic of Indonesia Number 187/M of 2004 concerning Establishment of Indonesia Bersatu Cabinet, as already amended several times, recently by the Decree of the President of the Republic of Indonesia Number 171/M of 2005; 15. Regulation of the President of the Republic of Indonesia Number 9 of 2005 concerning Position, Task, Function, Organizational Structure and Work System of the Ministry of the Republic of Indonesia as already amended several times, recently by the Regulation of President of the Republic of Indonesia Number 20 of 2008; 16. Regulation of the President of the Republic of Indonesia Number 10 of 2005 concerning Organization Unit and Task of Echelon I of State Ministries of the Republic of Indonesia as already amended several times, recently by the Regulation of President of the Republic of Indonesia Number 21 of 2008; 17. Regulation of the President of the Republic of Indonesia Number 76 of 2007 concerning Criteria and Requirement of Preparation of Closed and Open Business Sector with the Requirements in Investment Sector; 18. Regulation of the President of the Republic of Indonesia Number 77 of 2007 regarding List of Closed and Open Business Sector with the Requirements in Investment Sector as already amended by the Regulation of the 4

5 President of the Republic of Indonesia Number 111 of 2007 regarding Amendment to Regulation of the President of the Republic of Indonesia Number 77 of 2007 concerning List of Closed and Open Business Sector with the Requirements in Investment Sector; 19. Regulation of the Minister of Trade of the Republic of Indonesia Number 01/M-DAG/PER/3/2005 on Organization and Administration of the Ministry of Trade as several times amended the latest by Regulation of Ministry of Trade Republic of Indonesia Number 34/M-DAG/PER/8/2007; 20. Regulation of the Minister of Trade of the Republic of Indonesia Number 31/M-DAG/PER/8/2008 concerning Franchising; HA DECIDES: To Stipulate : REGULATION OF THE MINISTER OF TRADE OF THE REPUBLIC OF INDONESIA CONCERNING PROPERTY TRADE INTERMEDIARY COMPANY CHAPTER I GENERAL PROVISIONS Article 1 In this Regulation of the Minister, by: 1. Property Trade Intermediary Company hereinafter referred to as company shall mean a business entity running the activity as an sale purchase intermediary, lease intermediary, research and study, marketing, as well as consultation and dissemination of information relating to the property owner based on the instruction of project owner as provided for in the written agreement. 5

6 2. Property shall mean property in form of land and/or building as well as other facility and infrastructure forming integral part of the land and/or building. 3. Property trade intermediary hereinafter referred to as expert shall mean a person having special expertise in property sector proven by a certificate issued by an accredited certification institution. 4. Certificate shall mean the document as evidence of written acknowledgment or certification result to the classification and qualification of the property trade intermediary company or expert issued by the certification institution. 5. Certification institution shall mean institution issuing the certificate of acknowledgment of classification and qualification of the company or expertise of the expert according to its/his field based on the authority or acknowledgment of the accreditation institution. 6. Application for Property Trade Intermediary Business Permit hereinafter referred to as SPSIU-P4 shall mean an form of application for permit containing the data to obtain a Property Trade Intermediary Business Permit. 7. Property Trade Intermediary Company Business Permit hereinafter referred to as SIU-P4 shall mean a permit to carry out the property trade intermediary activity. 8. Company s branch office shall mean a company constituting a unit or division of its holding company that may has domicile at the different place and can be independent or assigned to carry out several tasks of its holding company. 9. Project owner shall mean the parties requiring the property trade intermediary company service in terms of sale and 6

7 purchase, lease, research and study, marketing, as well as consultation and dissemination of information relating to the property. 10. Property trade intermediary organization shall mean the company and expert association organization in the property trade intermediary sector. 11. Director for Business Development and Company Registration hereinafter referred to as Director for Binus and PP shall mean a Director with task and responsibility in the business development and company registration sector, Directorate General of Domestic Trade, Ministry of Trade. 12. Director General of Domestic Trade hereinafter referred to as Dirjen PDN shall mean the Director General with task and responsibility in the domestic trade sector, the Ministry of Trade. 13. Minister shall mean the Minister with task and responsibility in the trade sector. CHAPTER II PROPERTY TRADE INTERMEDIARY COMPANY ACTIVITY Part One Scope Article 2 The company s activities cover: a. Sale-purchase service; b. Lease service; c. Property research and study service; d. Marketing service; and e. Consultancy and information dissemination service. 7

8 Article 3 The sale-purchase service as referred to in Article 2 item a shall cover receiving and carrying out the work to sell and/or purchase the property within a certain period according to the written agreement between the project owner and company, with the activities among others: a. verify the other legality letter and document relating to the object agreed and check the truth of document to the issuing agency and other relevant agencies; b. carry out the research on the prospective purchaser and collect the data as well as document from the parties making transaction; c. make an offer through printed, electronic, and other media; d. provide advice to the project owner relating to the prospective purchaser or seller, price, and condition of property; e. make negotiation with the prospective purchaser or seller; f. receive the down payment or advance payment from the prospective purchaser at approval of the project owner; g. provide information on marketing activity regularly to the project owner; h. prepare the preliminary agreement on transaction (sale purchase agreement); and i. assist the finding of funding source from the financial institution. Article 4 Lease service as referred to in Article 2 item b shall cover receiving and carrying out the work to find out a lessee or lease out the property within certain period according to the written agreement between the project owner and company, with the 8

9 activities among others: Regulation of the Minister of Trade of the Republic of Indonesia a. promote the marketing for property through the printed and electronic media; b. provide advice on property price and condition; c. assess the quality of prospective lessee (client); d. provide information to the project owner regularly about the development of marketing activity; e. provide assistance to the owner or lessee in the property location survey; f. make negotiation with the prospective lessee; g. receive the down payment or advance payment from the prospective lessee at approval of the project owner; and h. prepare a lease agreement between the prospective lessee and property owner, including collect the relevant data and document. Article 5 The property research and study service of as referred to in article 2 item c shall cover the research and study activity on the property quality standard according to the written agreement between the project owner and company, with the activity among others: a. carry out the analysis of quality standard of property marketed; and b. carry out the feasibility study for the property development. Article 6 The marketing service as referred to in article 2 item d shall cover among others exhibition, advertisement, convention about property, or property initial offering according to the written agreement between the project owner and company. Article 7 9

10 The consultancy service and dissemination of information as referred to in article 2 item e shall cover among others the assistance for consultation and dissemination of information, or provision of advice on property according to the written agreement between the project owner and company. Article 8 (1) The property trade intermediary business activity as referred to in article 2 can only be made by the national company. (2) The company as referred to in paragraph (1) may enter into cooperation with the companies coming from overseas only through a franchise system according to the legislation. Part Two Written agreement Article 9 (1) The company in running its activity shall enter into a written agreement with the project owner. (2) The written agreement as referred to in paragraph (1) shall at least contain: a. scope of activity assigned; b. property object; c. parties rights and obligations; d. value or percentage and procedure of payment of commission; e. validity term of agreement covering the active and passive term; and f. dispute settlement. / 10

11 Part Three Service Fee Article 10 (1) The company shall be entitled to receive the service fee from the project owner for the services provided. (2) In case the property sale-purchase and lease services as referred to in Article 3 and Article 4, the company shall be entitled to receive the service fee in terms of commission from the project owner at least 2% (two percent) of the transaction value. (3) For the provision of commission as referred to in paragraph (2), the provisions on active and/or passive term as referred to in Article 9 paragraph (2) item e shall apply. (4) Active term as referred to in paragraph (3) shall constitute the end of an agreement. (5) The passive term as referred to in paragraph (3) shall constitute the certain additional time after the expiry of active term as referred to in paragraph (4). CHAPTER III AUTHORITY Article 11 (1) The Minister has the authority of property trade intermediary activity regulation. (2) The Minister shall delegate the authority of the issue of SIU- P4 to the Director General of PDN. (3) The Director General of PDN shall delegate the authority of issue SIU-P4 to the Director for Binus and PP. 11

12 CHAPTER IV PROPERTY TRADE INTERMEDIARY COMPANY Article 12 (1) The Company shall have at least 2 (two) experts. (2) [missing page] company and duly stamped. (2) (3) The arrangement of application for SIU-P4 and reregistration of P4-SIU can be made by the third party by indicating the power of attorney, duly stamped and signed by the company s owner, management, or person in charge. (4) The arrangement of application for SIU-P4 and reregistration of SIU-P4 as referred to in paragraph (1) shall be free of administration charge. Article 16 (1) the application for SIU-P4 as referred to in Article 15 paragraph (1) shall be equipped with the following documents: a. Photocopy of deed of notary public of company s establishment for company in form of PT and CV; b. Photocopy of deed of establishment of cooperatives and ratification of legal entity from the competent State for the company in form of cooperatives; c. Photocopy of deed of establishment of company for the company in form of firm and individual (if any); d. Photocopy of ratification of legal entity from the Ministry of Law and Human Rights for the company in form of PT; e. list of experts, at least 2 (two) people equipped with: 12

13 1. Statement as expert in the property trade intermediary sector and not working in the other similar company, on the paper bearing stamp; 2. Photocopy of professional certificate; 3. Curriculum vitae; and 4. Photocopy of Identity Card (KTP). f. Photocopy of ID card and photograph of the owner, management, or person in charge of the company namely 2 (two) pieces at size of 4x6 cm. (2) In case the submission of photocopy of documents as referred to in paragraph (3) The applicant shall indicate the original document for the validity examination that will be returned to the applicant after the examination. a. Within not later Than 3 (three) business days as of the receipt of application for SIU-P4: a. it is declared already correct and complete, the Director for Binus and PP shall issue SIU-P4 by using the form as per Annex II hereto; or b. it is declared incorrect and/or incomplete, the Director for Binus and PP shall make a denial furnished with the reasons of denial by using the form as per Annex III hereto. (4) The Company of which the application is denied as referred to in paragraph (3) item b may re-submit the application for SIU-P4 by filling out SPSIU-P4 as referred to in paragraph (1). Article17 (1) The application for re-registration of SIU-P4 as referred to in Article 15 paragraph (1) shall be equipped with the 13

14 document as follows: a. Original SIU-P4; b. Photocopy of company s balance sheet, and c. Photocopy of Company Registration Certificate (TDP). (2) Within not later than 3 (three) business days as of the receipt of application and document as referred to in paragraph (1), the Director Binus and PP shall issue SIU-P4 by using the form as per Annex II hereto; Article 18 (1) The owner, management, or person in charge of the company already having SIU-P4 that will open a branch office, shall report in writing to the Head of Agency responsible in the trade sector in the local district/municipal with carbon copy to the State issuing SIU-P4 and Head of Agency responsible in the trade sector in the province at the company s branch office domicile. (2) The written report as referred to in paragraph (1) shall be equipped with the documents as follows: a. photocopy of SIU-P4 already legalized by the competent State; b. Photocopy of document on opening of company s branch office; c. Photocopy of Identity Card (KTP) of the owner, management, or person in charge of the company s branch office; d. list of expert in the company s branch office; and e. Photocopy of Company Registration Certificate (TDP) of the head office. (3) Within not later than 3 (three) business days as of the receipt of report and requirement document as referred to in 14

15 paragraph (1) and paragraph (2) completely and correctly, the Head of Agency responsible in the trade sector in the local district/municipal shall record in the register of opening of company s branch office and affix the signature as well as seal/stamp on the front page of photocopy of SIU-P4 of the company s head office. (4) Photocopy of SIU-P4 of head office already signed and sealed/stamped as referred to in paragraph (3) shall apply as SIU-P4 of the company s branch office. Article 19 (1) The company already having SIU-P4, if making change of company s data containing the change of company s name and address, owner, management, or person in charge, and/or expert, within not later than 3 (three) months as of the change, shall report the changes to the Director for Binus and PP by attaching the supporting data relating to the change and original SIU-P4. (2) If the change of data as referred to in paragraph (1) rendering the change of SIU-P4, the Director for Binus and PP shall issue SIU-P4 of change within not later than 3 (three) business days as of the receipt of the report on change by using the form as per Annex II hereto. Article 20 (1) The Company of which SIU-P4 is lost or damaged, shall submit the written application for replacement of SIU-P4 to the Director for Binus and PP by filling out SPSIU-P4 as per Annex I hereto and equipped with the documents as follows: a. statement on lost from the Police for lost SIU-P4; or b. original SIU-P4 for damaged SIU-P4. 15

16 (2) The Director for Binus and PP shall re-issue substitute SIU- P4 within not later than 3 (three) business days as of the receipt of application in complete and correctly, by using the form as per Annex II hereto. Article 21 Every company already obtaining SIU-P4 shall register its company in Company Register within not later than 3 (three) months as of the issue of SIU-P4. CHAPTER VII BUILDING AND SUPERVISION Article 22 (1) Dirjen PDN shall build and supervise as well as evaluate the implementation of property trade intermediary business activity. (2) The building as referred to in paragraph (1) shall be made through extension, consultation, facilitation, education, and training. (3) The supervision as referred to in paragraph (1) shall be made according to the technical direction of supervision implementation. (4) The evaluation as referred to in paragraph (1) shall be made based on the annual report on company s business activity and observation result to the company s location. CHAPTER VIII REPORTING Article 23 (1) Every company already having SIU-P4 shall submit the annual report on the company s activity to the Director for Binus and PP by using the form as per Annex IV hereto. 16

17 (2) The report as referred to in paragraph (1) shall be made within not later than March 31 of the subsequent year. (3) If requested by the Minister or State so appointed, the Company shall provide the report, data, and/or information about the implementation of company s activity, besides the report as referred to in paragraph (1). Article 24 (1) The owner, management, or person in charge of the company not carrying out its business activity shall submit a written report to the Director for Binus and PP within not later than 3 (three) months as of the termination date of business activity by attaching the supporting document and original SIU-P4. (2) The Director for Binus and PP shall issue the statement on termination of property trade intermediary business activity by using the form as per Annex V hereto. CHAPTER IX SANCTION Article 25 (1) The Company breaching the provisions as referred to in Article 9, Article 12, Article 13 item d, Article 14 paragraph (3) or paragraph (5), Article 18 paragraph (1), Article 19 paragraph (1), Article 23 paragraph (1) or paragraph (3), or Article 24 shall be subjected to administrative sanction in terms of a written warning by the State issuing SIU-P4. (2) The written warning as referred to in paragraph (1) shall be issued maximum 3 (three) times consecutively within stay of 2 (two) weeks as of the written warning date, by using the form as per Annex VI hereto. 17

18 Article 26 (1) The Company failing to comply with the provisions in the written warning as referred to in Article 25 paragraph (2), shall be subjected administrative sanction in terms of suspension of SIU-P4 within period of maximum 1 (one) month. (2) The suspension of SIU-P4 as referred to in paragraph (1) shall be made by the State issuing SIU-P4 by using the form as per Annex VII hereto. (3) SIU-P4 subjected to suspension as referred to in paragraph (1) can be reactivated, if the relevant company has fulfilled the provisions as referred to in the third written warning. Article 27 (1) If the company fails to fulfill the provisions in the written warning and the decision of suspension as referred to in Article 25 and Article 26, it shall be subjected to administrative sanction in terms of revocation of SIU-P4. (2) The revocation of SIU-P4 as referred to in paragraph (1) shall be made by the State issuing SIU-P4 by using the form as per Annex VIII hereto. Article 28 The company breaching the provisions as referred to in Article 8, Article 13 item a, item b, or item c, Article 14 paragraph (1), or Article 21 shall be subjected to sanction as set forth in the legislation. 18

19 CHAPTER X MISCELLANY Article 29 The technical direction of implementation hereof shall further be regulated by the Dirjen PDN. CHAPTER XI TRANSITIONAL PROVISIONS Article 30 (1) The Trade Business Permit (SIUP) used to carry out the business activity in the property trade intermediary sector before the stipulation hereof shall be declared remain effective until expiry of its validity term. (2) After expiry of the validity term of SIUP as referred to in paragraph (1), the company shall adjust to the provisions hereof. CHAPTER XII CLOSING Article 31 This Regulation of Minister shall become effective 1 (one) year as of the date of stipulation. For public cognizance, it is ordered to publicize this Regulation of Minister by publishing in the State Gazette of the Republic of Indonesia. 19

20 Stipulated in Jakarta Date : August 21, 2008 MINISTER OF TRADE OF THE REPUBLIC OF INDONESIA signed MARI ELKA PANGESTU Copy in conformity with the original Secretariat General Ministry of Trade of the Republic of Indonesia Head of Legal Bureau, signed WIDODO 20

21 ATTACHMENT TO REGULATION OF MINISTER OF TRADE OF THE REPUBLIC OF INDONESIA. Date : August 21, 2008 LIST OF APPENDICES Appendix I : Application for Property Trade Intermediary Company Business Permit (SPSIU-P4) Appendix II : Property Trade Intermediary Company Business Permit (SIU-P4) Appendix III : Decision on Denial of Application for Issue of SIU-P4 Appendix IV : Form of Report on Property Trade Intermediary Business Activity Appendix V : Statement on Termination of Property Trade Intermediary Company Appendix VI : Written Warning Appendix VII : Decision on Suspension of SIU-P4 Appendix VIII : Decision on Revocation of SIU-P4 MINISTER OF TRADE OF THE REPUBLIC OF INDONESIA signed MARI ELKA PANGESTU Copy corresponds with the original Secretariat General of the Ministry of Trade Head of Legal Bureau, signed WIDODO 21

22 Attachment I Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 APPLICATION FOR PROPERTY TRADE INTERMEDIARY COMPANY BUSINESS PERMIT (SPSIU-P4) To. Director for Business Development and Company Registration Directorate General of Domestic Trade Ministry of Trade of the Republic of Indonesia In Jakarta ILLED OUT BY OWNER/MANAGEMENT/PERSON IN CHARGE Filled out/typed in block letters I, the signatory, hereby submit the Application for Property Trade Intermediary Company Business Permit (SIU-P4) as provided for in the Regulation of Minister of Trade of the Republic of Indonesia Number /M-DAG/PER/ / Application for New SIU-P4 *) : 2. Application for Re-Registration of SIU-P4 *) : 3. Application for Replacement of SIU-P4 *) : I. Identity of Owner/Management/Person in Charge **) 1. Name : 2. Address : 3. Birth Place/Date : /.. 4. Phone/Fax Number : /.. 5. ID Card Number : 22

23 Attachment I Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 II. Company s Identity 1. Company : 2. Address : 3. Phone/Fax Number : /.. 4. Province : 5. District/City/Municipal : 6. Sub District: : 7. Village/Desa : 8. Zip Code: : III. Company s Legality Company In Form of Limited Liability Company/Cooperatives/CV/Firm/Individual **) 1. Deed of establishment a. Number & Date of Deed :... b. Number & Date of Ratification : Deed of Amendment a. Number & Date of Deed :... b. Number & Date of Ratification :... IV. Capital and Shares 1. Capital and Assets Value :... Company s Net (excluding land and building as business place) 2. Shares (especially for company in form of corporate body) Total Value and Number of Shares :... 23

24 Attachment I Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 V. Expert 1. a. Name... b. Certificate Number... c. Institution Issuing Certificate a. Name... b. Certificate Number... c. Institution Issuing Certificate... (and so forth) In witness whereof this Application for SIU-P4 is truly made and if in fact untrue or false data or information or remarks is found, we declared that we are prepared to be subjected to revocation of and claim for SIU-P4 already issued according to the legislation.. Name and Signature of Owner/Management/Person in Charge of Trading Company**) Company s seal and duly stamped. Notes: *) chose one **) delete as appropriate 24

25 Attachment II Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 MINISTRY OF TRADE OF THE REPUBLIC OF INDONESIA DIRECTOR GENERAL OF DOMESTIC TRADE DIRECTORATE OF BUSINESS DEVELOPMENT and COMPANY REGISTRATION PROPERTY TRADE INTERMEDIARY BUSINESS PERMIT (SIU-P4) (Company Type).. Number Re-registration : Change : Substitution : Company : Owner/Management/Person : in Charge Address : Phone Number : Fax : THIS PERMIT IS EFEFCTIVE TO CARRY OUT PROPERTY TRADE INTERMEDIARY ACTIVITY IN ALL TERRITORIES OF THE REPUBLIC OF INDONESIA, AS LONG AS THE COMPANY STILL CARRIES OUT ITS BUSINESS, IT IS SHALL BE SUBJECTED TO RE- REGISTRATION EVERY 5 (FIVE) YEARS Issued in Jakarta on OFFICIAL ISSUING SIU-P4 25

26 Attachment II Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 GENERAL PROVISIONS A. GENERAL 1. The owner of SIU-P4 may carry out the activity in the property trade intermediary business sector in all Indonesian territories during the company run its business. 2. The property trade intermediary company in carrying out its business activity shall comply with the prevailing provisions and procedures as well as legislation. B. OBLIGATION 1. The Company shall submit the company s progress report by annually. 2. Report the change of company s data containing the change of company s name and address, owner/management/person in charge, and/or expert. 3. Report in writing if closing or terminating its business activity by returning the original SIU-P4. C. SANCTION The owner of SIU-P4 committing breach of this provision may be subjected to administrative sanction and/or criminal sanction according to the legislation. D. Appeal The owner of SIU-P4 is suggested to become the Member of Property Trade Intermediary Company Organization. 26

27 Annex III Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 MINISTRY OF TRADE OF THE REPUBLIC OF INDONESIA DIRECTOR GENERAL OF DOMESTIC TRADE DIRECTORATE OF BUSINESS DEVELOPMENT AND COMPANY REGISTRATION Number : /PDN/ / Jakarta, Encl : Re. Denial of Application for Property Trade Intermediary Company Business Permit (SIU-P4) To... In. Based on the result of examination of application for property trade intermediary company business permit dated, at the name of PT.., in fact it is not yet complete and correct, so it cannot be processed for the issue of Property Trade Intermediary Business Permit (SIU-P4). The insufficiencies are: Based on the matters above, we deny to issue SIU-P4 at the name of PT... in... Thank you for your attention. DIRECTOR FOR BUSINESS DEVELOPMENT AND COMPANY REGISTRATION, CC: 1. Dirjen PDN; 2. Irjen Depdag. 27

28 Annex IV Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 (COMPANY S HEAD LETTER) Number : Place, Date Encl. : Re. : Report on Company s Business Activity To. Director for Business Development and Company Registration Directorate General of Domestic Trade in - Jakarta 1. Name of Company : 2. Number and Date of SIU-P4 : 3. Address: : 4. Turnover a. Current Year: : b. Previous Year. : (Attach Company s Balance Sheet of the Latest Year) 5. Number of Expert : persons 6. Number of Workers (including owner/management/person in charge outside expert) a. S2/S3 :... persons b. S1 :... persons c. D3 :.. persons d. SMA or its equal :.. persons e. Other education :.. persons In witness whereof, this report is truly made. Owner/Management/Person in Charge of Company, 28

29 Annex V Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 MINISTRY OF TRADE OF THE REPUBLIC OF INDONESIA DIRECTOR GENERAL OF DOMESTIC TRADE DIRECTORATE OF BUSINESS DEVELOPMENT AND COMPANY REGISTRATION CERTIFICATE TERMINATION OF PROPERTY TRADE INTERMEDIARY COMPANY BUSINESS ACTIVITY Number: According to a letter from PT... Number... Date... Concerning..., explaining that PT has ceased the property intermediary trade business activity and has returned the original SIU-P4 Number... Date In this respect, then all responsibilities and obligations of the company relating to the property trade intermediary business activity with the relevant parties shall remain become the responsibility and obligation of the relevant company. In witness whereof, this certificate is issued for proper cognizance. DIRECTOR FOR BUSINESS DEVELOPMENT AND COMPANY REGISTRATION, CC: 1. Dirjen PDN; 2. Irjen Depdag. 29

30 Annex VI Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 MINISTRY OF TRADE OF THE REPUBLIC OF INDONESIA DIRECTOR GENERAL OF DOMESTIC TRADE DIRECTORATE OF BUSINESS DEVELOPMENT AND COMPANY REGISTRATION Number : Place, Date Encl. : Re. : ( ) th Warning on Implementing To. Provisions on Property Trade... intermediary Company Business... Activity (SIU-P4) in -... According to the Property Trade Intermediary Company Business Permit (SIU-P4) Number... Dated... at the name of PT, regarding the captioned subject and after the research and examination, in fact your Company fails to fulfill the provisions as provided for in the Regulation of the Minister of Trade of the Republic of Indonesia Number.../M- DAG/PER/../2008 among others: In this respect, within not later than 2 (two) weeks as of this Warning Letter, you should have been fulfilled the prevailing provisions on SIU-P4 and report the same to us in the first chance. Thank you for your attention. OFFICIAL ISSUING SIU-P4, Cc: 1. Dirjen PDN; 2. Irjen Depdag. 30

31 Annex VII Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 MINISTRY OF TRADE OF THE REPUBLIC OF INDONESIA DIRECTOR GENERAL OF DOMESTIC TRADE DIRECTORATE OF BUSINESS DEVELOPMENT AND COMPANY REGISTRATION DECISION OF DIRECTOR FOR BUSINESS DEVELOPMENT AND COMPANY REGISTRATION NUMBER: CONCERNING SUSPENSION OF PROPERTY TRADE INTERMEDIARY COMPANY BUSINESS PERMIT DIRECTOR FOR BUSINESS DEVELOPMENT AND COMPANY REGISTRATION, Considering : a. whereas according to the result research and examination the implementation of property trade intermediary business activity as contained in SIU-P4 Number. dated.. at the name of PT.., having its domicile at., in fact fails to fulfill the terms and conditions already stipulated, therefore the relevant SIU-P4 should be suspended; b. whereas in this respect, it is necessary to stipulate the Decision of Director For Business Development And Company Registration; In View of : Regulation of Minister of Trade of the Republic of Indonesia Number /M-DAG/PER/ /2008 concerning Property Trade Intermediary Company; Taking account into : 1. First Written Warning;

32 DECIDES To Stipulate : FIRST : To suspend SIU-P4 Number.. dated.. at the name of PT, located at... SECOND : During the suspension of SIU-P4 as referred to in the First Dictum, the relevant company shall not carry out the property trade intermediary service business activity as of the stipulation date of SIU-P4. THIRD : This Decision shall become effective as of the stipulation date. Stipulated in Jakarta Date : DIRECTOR FOR BUSINESS DEVELOPMENT AND COMPANY REGISTRATION, Copy of this Decision of Director For Business Development and Company Registration to: 1. Dirjen PDN; 2. Irjen Depdag. 32

33 Annex VIII Regulation of the Minister of Trade of the Republic of Indonesia Dated : August 21, 2008 MINISTRY OF TRADE OF THE REPUBLIC OF INDONESIA DIRECTOR GENERAL OF DOMESTIC TRADE DIRECTORATE OF BUSINESS DEVELOPMENT AND COMPANY REGISTRATION DECISION OF DIRECTOR FOR BUSINESS DEVELOPMENT AND COMPANY REGISTRATION NUMBER: CONCERNING REVOCATION OF PROPERTY TRADE INTERMEDIARY COMPANY BUSINESS PERMIT Considering : a. whereas according to the result of research and examination the implementation of property trade intermediary business activity as contained in SIU-P4 Number.. dated. at the name of PT., having its domicile at, in fact fails to fulfill the terms and conditions already stipulated, therefore the relevant SIU-P4 should be revoked; b. whereas in this respect, it is necessary to stipulate the Decision of Director For Business Development And Company Registration; In View of : Taking account into : 1. Regulation of Minister of Trade of the Republic of Indonesia Number /M-DAG/PER/../2008 concerning Property Trade Intermediary Company; 2.. Taking account into : Third Written Warning 3. Decision of Director For Business Development And 33

34 Company Registration Number... regarding Suspension of SIU-P4; DECIDES To Stipulate : FIRST To revoke SIU-P4 Number dated at the name of PT., located at. SECOND : During the revocation of SIU-P4 as referred to in the First Dictum, the relevant company shall not carry out the property trade intermediary service business activity. THIRD : This Decision shall become effective as of the stipulation date. Stipulated in Jakarta Date : DIRECTOR FOR BUSINESS DEVELOPMENT AND COMPANY REGISTRATION, Copy of this Decision of Director For Business Development and Company Registration to: 1. Dirjen PDN; 2. Irjen Depdag. 34