CoW and CCoW Change of Investment Regulation

AuthorWilliam A. Sullivan/Christian Teo Purwono & Partners
ProfessionLicensed Foreign Advocate in Indonesia as well as a Solicitor of the Supreme Court of New South Wales
CoW and CCoW Change of
Investment Regulation
I. Executive Summary
1. Overview
1.1 The CoW and CCoW Change of Investment Regulation (hereinafter
referred to as MoEMRR 18/2009) was issued with legal effect from
August 19, 2009.
1.2 MoEMRR 18/2009 sets out procedures for changing or altering the
investment and/or shareholding structure of CoW/CCoW holders.
1.3 MoEMRR 18/2009 is intended to (i) provide a clear procedural path for
CoW/CCoW companies to follow in changing their investment or
shareholding structure and (ii) give MoEMR a major supervisory role
in overseeing those changes.
2. Approach
2.1 Permitted Changes: CoW/CCoW holders may change or alter their
investment or shareholding structure as follows:
i. Change investment and nancing source;
ii. Change legal status from PMA Company to become PMDN
Company or vice versa;
iii. Change AoA;
iv. Change BoC or BoD composition; or
v. Change shareholder composition.
2.2 Approval Process: Each of the changes identied in 2.1 above
requires prior approval from DGoMC on behalf of MoEMR.
2.3 In order to obtain the required approval from DGoMC, the CoW/
CCoW holders must, rst, submit to MoEMR cq DGoMC an application

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT