CHAPTER 1 GENERAL PROVISIONS
Article 1 In this Government Regulation, what is meant by :
1. Public Corporation, hereinafter referred to as PERUM, is a State-owned
corporation as stipulated in Law No. 91969, the entire capital of which is owned by the State, in the form of State assets which are separated and not
divided into shares. 2.
Minister of Finance is the Minister representing the government in every participation of State assets, which shall be separated for inclusion in
PERUMN. 3.
Board of Directors is PERUM’s organ, responsible for PERUM’s management in the interests and objectives of PERUM and representing PERUM in or out
of court. 4.
Supervisory Board is PERUM’s organ which supervises and advises the Board of Directors in carrying out PERUM’s operational management.
5. Minister is the Minister whose scope of duties and authority embraces
PERUM’s field of business. Article 2
1. PERUM’s purposes and objectives are to run business aiming at public
interests in the form of providing goods andor services of good quality and concurrently seeking profits by virtue of corporate management principles.
2. To support the financing of operations in the context of obtaining its purpose
and objectives as intended in paragraph 1, with the Finance Minister’s approval, PERUM can perform certain business activities relevant to its
business field andor take part in capital participation in other business corporations.
3. The certain business activities meant in paragraph 2 shall be arranged by the
Minister of Finance. Article 3
1 The Finance Minister shall administer every administration of State capital
participation in PERUM. 2
The Finance Minister shall stipulate policy for developing PERUM’s business, and delegates authority for daily implementation of his policy to the Minister.
3 The policy intended in paragraph 2 shall be stipulated in accordance with the
purpose and objectives of the PERUM’s concerned. 4
For developing the PERUM as indicated in paragraph 3, the Finance Minister and the Minister can meet at anytime as deemed necessary.
5 The administering of State capital participation as meant in paragraph 1 and
the policy for developing business as meant in paragraph 2 shall be exerted by the Director General for the Development of State-Owned Corporations.
Article 4
The Finance Minister andor the Minister areis responsible for all the consequences of legal actions taken by PERUM and for PERUM’s losses which
exceed the value of the State assets separated and put into PERUM, unless : a.
The Finance Minister andor the Minister with ill will directly or indirectly taketakes advantages from PERUM in theirhis own personal interests
exclusively. b.
The Finance Minister andor the Minister areis involved in illegal actions taken by PERUM; or
c. The Finance Minister andor the Minister areis directly or indirectly
makemakes use of PERUM’s assets against the law.
Article 5 PERUM shall be domiciled in the territory of the Republic of Indonesia which
shall be stipulated in the Articles of Association. Article 6
PERUM shall be established for a period of time stipulated in the Articles of Association.
CHAPTER II ESTABLISHMENT AND ARTICLES OF ASSOCIATION
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