Procedures to Appoint and Dismiss BUMN?s Commissioners and Supervisors

The Minister of State-Owned Enterprises (“Minister”) has issued Regulation No. PER-02/MBU/02/2015 on Requirements and Procedures for Appointing and Dismissing Board of Commissioners and Board of Supervisors of State-Owned Enterprises (“2015 Regulation”).

The 2015 Regulation redefines provisions to appoint members of board of commissioners or supervisors (“Commissioners” or “Supervisors”) of state-owned enterprises (Badan Usaha Milik Negara - “BUMN”), covering: requirements, candidacy procedures, and fit and proper test. The 2015 Regulation also stipulates the procedures and conditions for terminating Commissioners and Supervisors.