Extractive Industry Income Transparency Regulation
Author | William A. Sullivan/Christian Teo Purwono & Partners |
Profession | Licensed Foreign Advocate in Indonesia as well as a Solicitor of the Supreme Court of New South Wales |
Pages | 167-171 |
CHAPTER 14
Extractive Industry Income
Transparency Regulation
I.Executive Summary
1. Overview
1.1 The EI Income Transparency Regulation (hereinafter referred to as
“PR 26/2010”) was issued with legal effect from April 23, 2010.
1.2 PR 26/2010 has been introduced by Indonesia as a result of the
Extractive Industry Transparency Initiative, a global initiative
announced at the World Summit on Sustainable Development in
Johannesburg, South Africa, in 2002.
2. Approach
2.1Objectives: The main objectives of PR 26/2010 are as follows:
a. To provide certainty and accountability in terms of the business
operations of companies engaged in Indonesia’s mining, oil, and
gas industries;
b. To reduce corruption in the Extractive Industries; and
c. To improve the investment climate for the Extractive Industries by
encouraging transparent management of natural resources.
2.2Transparency Committee: GoI will establish an Extractive Indus-
tries Transparency Working Committee, under the supervision of and
having direct responsibility to the President, for the purpose of
implementing PR 26/2010.
2.3 The primary role of the Transparency Committee is to ensure that
disclosure of State Income and Regional Income generated from
Extractive Industries is made in a transparent manner.
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