The Head of Capital Investment Coordinating Board (‘BKPM’) recently amended Regulation No. 13 of 2009 on Guidelines to Control Capital Investment Implementation, issuing Regulation No. 7 of 2010 (“the Amendment”).
The Amendment extends Article 27 of the 2009 regulation, regarding ‘Capital Investment Activity Reports’ or ‘LKPM’: specifically, the obligation of all capital investment companies to appoint an individual responsible for periodically submitting the Activity Reports to the BKPM.
In short, the LKPM is a progress report on the status and development(s) of a capital investment project in Indonesia. All capital investors and investment companies are obliged to submit them on a regular, periodic basis to the BKPM.
Article 27 of Head of [BKPM] Regulation No. 13 of 2009, however, merely required that, if the capital investment project itself was outside the physical location of the central office of the capital investment company, then the central office must appoint an individual from the branch office at the project location to be responsible for the LKPM.
The lingering technocratic question remained: ‘what about if the project is in the same location as the central office?’
The Amendment clarifies that regardless of the location of the capital investment project, the office directly supervising a given capital investment project must appoint an individual to submit the LKPM to the BKPM.
Meanwhile, the person appointed for that position must be notified to the BKPM by submitting a form provided in Attachment IIIB of the Amendment. The notification may be through mail, fax, or email to [email protected].
The Amendment has been in force since 31 March 2010.
The Head of Capital Investment Coordinating Board (‘BKPM’) recently amended Regulation No. 13 of 2009 on Guidelines to Control Capital Investment Implementation, issuing Regulation No. 7 of 2010 (“the Amendment”).
The Amendment extends Article 27 of the 2009 regulation, regarding ‘Capital Investment Activity Reports’ or ‘LKPM’: specifically, the obligation of all capital investment companies to appoint an individual responsible for periodically submitting the Activity Reports to the BKPM.
In short, the LKPM is a progress report on the status and development(s) of a capital investment project in Indonesia. All capital investors and investment companies are obliged to submit them on a regular, periodic basis to the BKPM.
Article 27 of Head of [BKPM] Regulation No. 13 of 2009, however, merely required that, if the capital investment project itself was outside the physical location of the central office of the capital investment company, then the central office must appoint an individual from the branch office at the project location to be responsible for the LKPM.
The lingering technocratic question remained: ‘what about if the project is in the same location as the central office?’
The Amendment clarifies that regardless of the location of the capital investment project, the office directly supervising a given capital investment project must appoint an individual to submit the LKPM to the BKPM.
Meanwhile, the person appointed for that position must be notified to the BKPM by submitting a form provided in Attachment IIIB of the Amendment. The notification may be through mail, fax, or email to [email protected].
The Amendment has been in force since 31 March 2010.
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