- As mandated by provisions originally set out under Regulation of the Government No. 64 of 2021 and in a bid to implement Law No. 11 of 2020 on Job Creation, the president has issued Regulation of the President No. 113 of 2021 on the Structure and Operations of the Land Bank Agency ("Regulation 113/2021").
- According to Regulation 113/2021, the Land Bank Agency should be domiciled in the capital city of Indonesia and may also have representative offices throughout Indonesia. Further provisions regarding the establishment of said representative offices will be set out under a forthcoming Regulation of the Head of the Land Bank’s Implementing Body.
- The structure of the Land Bank includes a committee, supervisory body and implementing body. The committee comprises the Minister of Agrarian Affairs and Spatial Planning/National Land Agency, the Minister of Finance, and the Minister of Public Works and Public Housing, as well as various other ministers and agency heads, as appointed by the president. Meanwhile, the supervisory body comprises a maximum of seven members, specifically four professional members and three government members who are selected by the president based on recommendations made by the committee. Meanwhile, the implementing body comprises a head and deputy.
- The government may grant priority rights to the Land Bank as the first buyer in relation to purchases of land originating from legal entities/communities so that the Land Bank can carry out its duties and authorities in order to ensure the availability of land under the framework of a just economy. Furthermore, the Land Bank Agency may use the name, “Bank Tanah Indonesia” or “The Indonesia Land Bank Authority”.
- Regulation 113/2021 has been in force since 27 December 2021.
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