INDONESIA OTORITAS JASA KEUANGAN (OJK) THE FINANCIAL SERVICES AUTHORITY LAW NO. 21 OF 2011 State Gazette No. 111 of 2011; Supplement No. 5253 November 22, 2011 Translated by: Wishnu Basuki wbasuki@gmail.com Bitext UNDANG-UNDANG REPUBLIK INDONESIA NOMOR 21 TAHUN 2011 TENTANG OTORITAS J ASA KEUANGAN LAW OF THE REPUBLIC OF INDONESIA NUMBER 21 OF 2011 CONCERNING THE FINANCIAL SERVICES AUTHORITY Passed by the House of Representatives: October 27, 2011 Table of Contents Pasal/Article BAB I: KETENTUAN UMUM1CHAPTER I: GENERAL PROVISIONS BAB II: PEMBENTUKAN, STATUS, DAN TEMPAT KEDUDUKAN 23 CHAPTER II: ESTABLISHMENT, STATUS, AND DOMICILE BAB III: TUJ UAN, FUNGSI, TUGAS, DAN WEWENANG 49 CHAPTER III: OBJ ECTIVES, FUNCTIONS, DUTIES, AND POWERS BAB IV: DEWAN KOMISIONER 1025 CHAPTER IV: THE BOARD OF COMMISSIONERS Bagian Kesatu: Struktur Dewan Komisioner 10 Part One: Structure of the Board of Commissioners Bagian Kedua: Pengangkatan dan Pemberhentian 1117 Part Two: Appointment and Dismissal Bagian Ketiga: Pergantian Antarwaktu1819Part Three: Recall Bagian Keempat: Tugas dan Wewenang2021Part Four: Duties and Powers Bagian Kelima: Larangan2223Part Five: Prohibitions Bagian Keenam: Rapat dan Pengambilan Keputusan 24 Part Six: Meetings and Decision-Making Bagian Ketujuh: Lain-lain25Part Seven: Miscellaneous Provisions BAB V: ORGANISASI DAN KEPEGAWAIAN 2627 CHAPTER V: ORGANIZATIONS AND PERSONNEL BAB VI: PERLINDUNGAN KONSUMEN DAN MASYARAKAT 2831 CHAPTER VI: CONSUMER AND PUBLIC PROTECTION BAB VII: KODE ETIK DAN KERAHASIAAN INFORMASI 3233 CHAPTER VII: CODE OF ETHICS AND CONFIDENTIALITY OF INFORMATION Bagian Kesatu: Kode Etik32Part One: Code of Ethics Bagian Kedua: Kerahasiaan Informasi33Part Two: Confidentiality of Information BAB VIII: RENCANA KERJ A DAN ANGGARAN 3437 CHAPTER VIII: WORKING PLANS AND BUDGET BAB IX: PELAPORAN DAN AKUNTABILITAS 38 CHAPTER IX: REPORTING AND ACCOUNTABILITY BAB X: HUBUNGAN KELEMBAGAAN3948CHAPTER X: INSTITUTIONAL RELATIONSHIPS Bagian Kesatu: Koordinasi dan Kerja Sama3943Part One: Coordination and Cooperation Bagian Kedua: Protokol Koordinasi4446Part Two: Coordination Protocol Bagian Ketiga: Hubungan International4748Part Three: International Relations BAB XI: PENYIDIKAN4951CHAPTER XI: INVESTIGATION BAB XII: KETENTUAN PIDANA5254CHAPTER XII: PENAL PROVISIONS BAB XIII: KETENTUAN PERALIHAN5568CHAPTER XIII: TRANSITIONAL PROVISIONS BAB XIV: KETENTUAN PENUTUP6971CHAPTER XIV: CONCLUDING PROVISIONS Translated by: Wishnu Basuki wbasuki@gmail.com Updated: September 23, 2013 (As of December 8, 2011) 1 UNDANG-UNDANG REPUBLIK INDONESIA NOMOR 21 TAHUN 2011 TENTANG OTORITAS J ASA KEUANGAN LAW OF THE REPUBLIC OF INDONESIA NUMBER 21 OF 2011 CONCERNING THE FINANCIAL SERVICES AUTHORITY DENGAN RAHMAT TUHAN YANG MAHA ESA WITH THE BLESSING OF GOD ALMIGHTY PRESIDEN REPUBLIK INDONESIA, THE PRESIDENT OF THE REPUBLIC OF INDONESIA, Menimbang:Considering: a.bahwauntukmewujudkanperekonomian nasionalyangmamputumbuhsecara berkelanjutandanstabil,diperlukankegiatan didalamsektorjasakeuanganyang terselenggarasecarateratur,adil,transparan, danakuntabel,sertamampumewujudkan sistemkeuanganyangtumbuhsecara berkelanjutandanstabil,danmampu melindungikepentingankonsumendan masyarakat; a.thatintherealizationofthesustainableand stablegrowthofthenationaleconomy,it requiresthattheactivitiesofthefinancial services sector can be performed in organized, fair, transparent, and accountable manner, can realize the sustainable and stable growth of the financialsystemaswellascanprotectthe interests of consumers and the public; b.bahwaberdasarkanpertimbangan sebagaimanadimaksuddalamhurufa, diperlukanotoritasjasakeuanganyang memilikifungsi,tugas,danwewenang pengaturan dan pengawasan terhadap kegiatan di dalam sektor jasa keuangan secara terpadu, independen, dan akuntabel; b.thatinconsiderationofpoint(a),afinancial servicesauthorityhavingintegrated, independent,andaccountableregulatoryand supervisoryfunctions,dutiesandpowersover the activities of the financial services sector is indispensible; c.bahwaberdasarkanpertimbangan sebagaimanadimaksuddalamhurufadan hurufb,perlumembentukUndang-Undang tentang Otoritas J asa Keuangan; c.that in consideration of point (a) and point (b), it is necessary to make a Law concerning The Financial Services Authority; Mengingat:Bearing in Mind: 1.Pasal5ayat(1),Pasal20,danPasal33 Undang-UndangDasarNegaraRepublik Indonesia Tahun 1945; 1.Article 5 section (1), Article 20, and Article 33 ofthe1945ConstitutionoftheRepublicof Indonesia; 2.Undang-UndangNomor23Tahun1999 tentangBankIndonesia(LembaranNegara RepublikIndonesiaTahun1999Nomor66, TambahanLembaranNegaraRepublik IndonesiaNomor3843)sebagaimanatelah beberapa kali diubah terakhir dengan Undang-UndangNomor6Tahun2009tentang PenetapanPeraturanPemerintahPengganti Undang-UndangNomor2Tahun2008 2.LawNumber23of1999concerningBank Indonesia(StateGazetteoftheRepublicof Indonesia Number 66 of 1999, Supplement to StateGazetteoftheRepublicofIndonesia Number 3844), as several times amended, and mostrecentlyamendedbyLawNumber6of 2009concerningEnactmentofGovernment Regulation in Lieu of Law Number 2 of 2008 concerningtheSecondAmendmenttoLaw Translated by: Wishnu Basuki wbasuki@gmail.com 2 tentangPerubahanKeduaatasUndang-Undang Nomor 23 Tahun 1999 tentang Bank IndonesiaMenjadiUndang-Undang (Lembaran Negara Republik Indonesia Tahun 2009 Nomor 7, Tambahan Lembaran Negara Republik Indonesia Nomor 4962); Number 23 of 1999 concerning Bank Indonesia intoLaw(StateGazetteoftheRepublicof IndonesiaNumber7of2009,Supplementto StateGazetteoftheRepublicofIndonesia Number 4962); Dengan Persetujuan Bersama DEWAN PERWAKILAN RAKYAT REPUBLIK INDONESIA dan PRESIDEN REPUBLIK INDONESIA With the J oint Consent of THE HOUSE OF REPRESENTATIVES OF THE REPUBLIC OF INDONESIA and THE PRESIDENT OF THE REPUBLIC OF INDONESIA MEMUTUSKAN:HAS DECIDED: Menetapkan:UNDANG-UNDANG TENTANG OTORITAS J ASA KEUANGAN. To Enact:LAW CONCERNING THE FINANCIAL SERVICES AUTHORITY. PENJELASAN UMUMGENERAL ILUCIDATION Dalamrangkamewujudkanperekonomian nasionalyangmamputumbuhdenganstabildan berkelanjutan,menciptakankesempatankerjayang luasdanseimbangdisemuasektorperekonomian, sertamemberikankesejahteraansecaraadilkepada seluruhrakyatIndonesia,makaprogram pembangunanekonominasionalharusdilaksanakan secarakomprehensifdanmampumenggerakkan kegiatanperekonomiannasionalyangmemiliki jangkauan yang luas dan menyentuh ke seluruh sektor riildariperekonomianmasyarakatIndonesia.Programpembangunanekonominasionaljugaharus dilaksanakansecaratransparandanakuntabelyang berpedomanpadaprinsipdemokrasiekonomi sebagaimanadiamanatkanPancasiladanUndang-UndangDasarNegaraRepublikIndonesiaTahun 1945.Untukmencapaitujuantersebut,program pembangunanekonominasionalperludidukungoleh tata kelola pemerintahan yang baik yang secara terus menerusmelakukanreformasiterhadapsetiap komponendalamsistemperekonomiannasional.Salahsatukomponenpentingdalamsistem perekonomiannasionaldimaksudadalahsistem keuangandanseluruhkegiatanjasakeuanganyang menjalankanfungsiintermediasibagiberbagai kegiatan produktif di dalam perekonomian nasional. Torealizethestableandsustainablegrowthofthe nationaleconomy,tocreatewidejobopportunity equitablydistributedinalleconomicsectors,andto provide welfare to all of the Indonesian people in a fair manner,thenationaleconomicdevelopmentprogram mustbeimplementedcomprehensivelybysettingthe nationaleconomicactivityinmotiontoachieve extensively and touch on in its entirety the real sector of theeconomyoftheIndonesiansociety.Thenational economicdevelopmentprogrammustalsobe implementedinatransparentandaccountablemanner referringtotheeconomicdemocracyprincipleas mandated by the Pancasila and the 1945 Constitution of theRepublicofIndonesia.Toachievethosegoals,the nationaleconomicdevelopmentprogramrequires supportwithgoodgovernanceandimplements continuous reform of every single component within the nationaleconomysystem.Oneoftheimportant componentsinthenationaleconomysystemisthe financialsystemandtheentirefinancialservices activities that perform the functions of intermediation of variousproductiveactivitieswithinthenational economy. Fungsiintermediasiyangdiselenggarakanoleh berbagailembagajasakeuangan,dalam perkembangannyatelahmemberikankontribusiyang cukupsignifikandalampenyediaandanauntuk pembiayaanpembangunanekonominasional.Oleh karenaitu,Negarasenantiasamemberikanperhatian yangseriusterhadapperkembangankegiatansektor jasakeuangantersebut,denganmengupayakan Thefunctionsofintermediationperformedby numerousfinancialservicesinstitutionshaveintime contributedsignificantlyenoughtotheprovisionof fundstofinancethenationaleconomydevelopment.The State at all times therefore devotes serious attention tothedevelopmentsofthosefinancialservicessector activities by exercise of all reasonable efforts to outline theregulationandsupervisionoffinancialservices 3 terbentuknyakerangkaperaturandanpengawasan sektorjasakeuanganyangterintegrasidan komprehensif. sector in an integrated and comprehensive manner. Terjadinyaprosesglobalisasidalamsistem keuangan dan pesatnya kemajuan di bidang teknologi informasidaninovasifinansialtelahmenciptakan sistemkeuanganyangsangatkompleks,dinamisdan salingterkaitantar-subsektorkeuanganbaikdalam halprodukmaupunkelembagaan.Disampingitu, adanyalembagajasakeuanganyangmemiliki hubungankepemilikandiberbagaisubsektor keuangan(konglomerasi)telahmenambah kompleksitastransaksidaninteraksiantarlembaga keuangan di dalam sistem keuangan. Theoutbreakofglobalizationoffinancialsystem andrapidadvancesininformationtechnologyand financialinnovationshavecontributedtothecomplex anddynamicfinancialsystemthatisinterrelatedwith financialsubsectorsintermsofeitherproductsor entities.Inaddition,theexistenceoffinancialservices institutionswithownershipattributioninthewide varietyoffinancialsubsectors(conglomeration)has contributedtothecomplexityoftransactionsand interactionsamongstthefinancialinstitutionswithin the financial system. Banyaknya permasalahan lintas sektoral di sektor jasakeuangan,yangmeliputitindakanmoralhazard, belumoptimalnyaperlindungankonsumenjasa keuangan,danterganggunyastabilitassistem keuangansemakinmendorongdiperlukannya pembentukanlembagapengawasandisektorjasa keuangan yang terintegrasi. Themassofcross-sectoralproblemsinthe financialservicessector,includingmoralhazard behavior,lackofoptimalfinancialservicesconsumer protection,anddisruptionstothefinancialsystem stability, have progressively urged the need to establish an integrated financial services supervisory institution. Sehubungandenganhaltersebutdiatas,perlu dilakukanpenataankembalistruktur pengorganisasiandarilembaga-lembagayang melaksanakantugaspengaturandanpengawasandi sektorjasakeuanganyangmencakupsektor perbankan,pasarmodal,perasuransian,dana pensiun,lembagapembiayaandanlembagajasa keuanganlainnya.Penataandimaksuddilakukan agardapatdicapaimekanismekoordinasiyanglebih efektif di dalam menangani permasalahan yang timbul dalamsistemkeuangansehinggadapatlebih menjamintercapainyastabilitassistemkeuangan. Pengaturandanpengawasanterhadapkeseluruhan kegiatanjasakeuangantersebutharusdilakukan secara lebih terintegrasi. Fromtheforegoing,itisnecessarytoreorganize the structure of organization of institutions that perform theregulatoryandsupervisorydutiesinthefinancial servicessectorcoveringbanking,capitalmarkets, insurance, pensiun funds, finance institutions and other financialservicesinstitutions.Suchreorganizationis madetoenablereachingmoreeffectivemechanismof coordinationindealingwithanyarisingproblemsin thefinancialsystemtofurtherassuretheachievement ofthefinancialsystemstability.Suchregulationand supervisionoftheentirefinancialservicesactivities must be conducted in a more integrated manner. Selainpertimbangan-pertimbanganterdahulu, Undang-Undang Nomor 23 Tahun 1999 tentang Bank Indonesiasebagaimanatelahbeberapakalidiubah, terakhirdenganUndang-UndangNomor6Tahun 2009tentangPenetapanPeraturanPemerintah PenggantiUndang-UndangNomor2Tahun2008 tentangPerubahanKeduaatasUndang-Undang Nomor23Tahun1999tentangBankIndonesia MenjadiUndang-Undang,jugamengamanatkan pembentukanlembagapengawasansektorjasa keuanganyangmencakupperbankan,asuransi,dana pensiun,sekuritas,modalventuradanperusahaan pembiayaan,sertabadan-badanlainyang menyelenggarakanpengelolaandanamasyarakat.Lembagapengawasansektorjasakeuangantersebut diataspadahakikatnyamerupakanlembaga independendalammenjalankantugasnyadan kedudukannyaberadadiluarpemerintah.Lembaga iniberkewajibanmenyampaikanlaporankepada BadanPemeriksaKeuangandanDewanPerwakilan Rakyat. Inadditiontotheaboveconsiderations,Law Number23of1999concerningBankIndonesia,as severaltimesamended,andmostrecentlyamendedby LawNumber6of2009concerningEnactmentof GovernmentRegulationinLieuofLawNumber2of 2008concerningtheSecondAmendmenttoLaw Number23of1999concerningBankIndonesiainto Law,alsomandatestheestablishmentoffinancial servicessupervisoryinstitutionstoincludebanking, insurance, pension funds, securities, venture capital and finance companies as well as other bodies that manage publicfunds.Suchfinancialservicessupervisory institutionsareperseinstitutionstoperformtheir dutiesindependentlyandtheirpositionisnon-government.Theseinstitutionsmustsubmitreportsto theSupremeAuditBoardandtheHouseof Representatives. 4 Lembagapengawasansektorjasakeuangan dalamUndang-UndanginidisebutOtoritasJasa Keuangan.Undang-UndangtentangOtoritasJasa Keuanganpadadasarnyamemuatketentuantentang organisasi dan tata kelola (governance) dari lembaga yangmemilikiotoritaspengaturandanpengawasan terhadap sektor jasa keuangan.Sedangkan ketentuan mengenaijenis-jenisprodukjasakeuangan,cakupan danbatas-bataskegiatanlembagajasakeuangan, kualifikasidankriterialembagajasakeuangan, tingkatkesehatandanpengaturanprudensialserta ketentuantentangjasapenunjangsektorjasa keuangandanlainsebagainyayangmenyangkut transaksi jasa keuangan diatur dalam undang-undang sektoraltersendiri,yaituUndang-Undangtentang Perbankan,PasarModal,UsahaPerasuransian, DanaPensiun,danperaturanperundang-undangan lainyangterkaitdengansektorjasakeuangan lainnya.The financial services supervisory institution in this LawiscalledtheFinancialServicesAuthority.This LawconcerningtheFinancialServicesAuthority containsbasicallytheprovisionsontheorganization andgovernanceoftheinstitutionwithpowersto regulateandsupervisefinancialservicessector.Meanwhile,theprovisionsonthetypesoffinancial servicesproducts,thescopeandlimitsofactivitiesof thefinancialservicesinstitutions,qualificationsand criteriaofthefinancialservicesinstitutions,levelof soundnessandprudentialregulationaswellasthe provisionsonfinancialsupportservicessectorand othersthatinvolvefinancialservicestransactionsshall begovernedbyseparatelawsbysector,i.e.,theLaws concerningBanking,CapitalMarkets,Insurance, PensionFunds,andotherlawsandregulationsin connection with other financial services sector. OtoritasJasaKeuangandibentukdengantujuan agarkeseluruhankegiatanjasakeuangandidalam sektorjasakeuangandapatterselenggarasecara teratur, adil, transparan, dan akuntabel, serta mampu mewujudkansistemkeuanganyangtumbuhsecara berkelanjutandanstabil,danmampumelindungi kepentingankonsumendanmasyarakat.Dengan tujuanini,OJKdiharapkandapatmendukung kepentingansektorjasakeuangannasionalsehingga mampu meningkatkan daya saing nasional.Selain itu, OJKharusmampumenjagakepentingannasional, antaralain,meliputisumberdayamanusia, pengelolaan, pengendalian, dan kepemilikan di sektor jasakeuangan,dengantetapmempertimbangkan aspek positif globalisasi. The Financial Services Authority is established with theobjectivesthattheentireactivitiesofthefinancial serviceswithinthefinancialservicessectorcanbe performedinorganized,fair,transparent,and accountablemanner,canrealizethesustainableand stablegrowthofthefinancialsystemaswellascan protecttheinterestsofconsumersandthepublic.On theseobjectives,theFinancialServicesAuthorityis expected to enable support of the interest of the national financialservicessectortoenhancethenational competitiveness.Furthermore,theFinancialServices Authoritymustenablethesafeguardofthenational interestsincluding,interalia,humanresources, management,controls,andownershipinthefinancial servicessectorwithdueconsiderationofthepositive aspects of globalization. OtoritasJasaKeuangandibentukdandilandasi denganprinsip-prinsiptatakelolayangbaik,yang meliputiindependensi,akuntabilitas,pertanggung-jawaban, transparansi, dan kewajaran (fairness). The Financial Services Authority is established and basedonthegoodgovernanceprinciplesthatinclude independence,accountability,responsibility, transparency, and fairness. Secarakelembagaan,OtoritasJasaKeuangan beradadiluarPemerintah,yangdimaknaibahwa OtoritasJasaKeuangantidakmenjadibagiandari kekuasaanPemerintah.Namun,tidakmenutup kemungkinanadanyaunsur-unsurperwakilan PemerintahkarenapadahakikatnyaOtoritasJasa Keuanganmerupakanotoritasdisektorjasa keuanganyangmemilikirelasidanketerkaitanyang kuat dengan otoritas lain, dalam hal ini otoritas fiskal dan moneter. Oleh karena itu, lembaga ini melibatkan keterwakilan unsur-unsur dari kedua otoritas tersebut secaraEx-officio.KeberadaanEx-officioini dimaksudkandalamrangkakoordinasi,kerjasama, danharmonisasikebijakandibidangfiskal,moneter, dan sektor jasa keuangan. Keberadaan Ex-officio juga diperlukangunamemastikanterpeliharanya kepentingan nasional dalam rangka persaingan global dan kesepakatan internasional, kebutuhan koordinasi, Institutionally,theFinancialServicesAuthorityis non-government,meaningthattheFinancialServices Authority is not made a part of the Government powers.However,suchdoesnotprecludethepresenceofthe elementsoftherepresentativesoftheGovernmentas theFinancialServicesAuthorityisperseanauthority withinthefinancialservicessectorthathasclose relationandlinkagetootherauthorities,whichinthis casearefiscalandmonetaryauthorities.This institutionaccordinglyinvolvestherepresentationof the elements of both authorities Ex-officio.The existing Ex-officioaimstomaintaincoordination,cooperation, and harmonization in the fiscal, monetary and financial servicessectorpolicy.TheexistingEx-officioisalso necessarytoensurethemaintenanceofthenational interestinthescopeofglobalcompetitionand internationalunderstandings,theneedofcoordination, andinformationexchangeinordertosafeguardand 5 dan pertukaran informasi dalam rangka menjaga dan memelihara stabilitas sistem keuangan. maintain the stability of the financial system. Untukmewujudkankoordinasi,kerjasama,dan harmonisasikebijakanyangbaik,OtoritasJasa Keuanganharusmerupakanbagiandarisistem penyelenggaraanurusanpemerintahanyang berinteraksisecarabaikdenganlembaga-lembaga negaradanpemerintahanlainnyadalammencapai tujuandancita-citakemerdekaanIndonesiayang tercantum dalam konstitusi Negara Kesatuan Republik Indonesia. Torealizethepropercoordination,cooperation, and harmonization in the policy, the Financial Services Authoritymustbemadeapartofthegovernment administrationaffairssystemtointeractproperlywith otherstateandgovernmentinstitutionstoachievethe objectives and ideals of the Indonesian independence as stated in the constitution of the State of the Republic of Indonesia. IndependensiOtoritasJasaKeuangantercermin dalam kepemimpinan Otoritas Jasa Keuangan. Secara orangperseorangan,pimpinanOtoritasJasa Keuangan memiliki kepastian masa jabatan dan tidak dapatdiberhentikan,kecualimemenuhialasanyang secarategasdiaturdalamUndang-Undangini.Di sampingitu,untukmendapatkanpimpinanOtoritas JasaKeuanganyangtepat,Undang-Undangini mengaturmekanismeseleksiyangtransparan, akuntabel,danmelibatkanpartisipasipublikmelalui suatu panitia seleksi yang unsur-unsurnya terdiri atas Pemerintah,BankIndonesia,danmasyarakatsektor jasa keuangan. TheindependenceoftheFinancialServices Authorityisreflectedinthemanagementofthe FinancialServicesAuthority.Themanagementofthe FinancialServicesAuthorityshallservethedefinite termofofficeandnotbedismissed,unlesshaving reasons as expressly governed by this Law.Further, in ordertoenjoytheappropriatemanagementofthe FinancialServicesAuthority,thisLawgovernsthe mechanismofselection,whichistransparent, accountable and involving public participation through theselectioncommitteewiththeelementsbeing comprisedofthosefromtheGovernment,Bank Indonesia,andthecommunityofthefinancialservices sector. OtoritasJasaKeuanganmelaksanakantugasdan wewenangnyaberlandaskankepadaasas-asas sebagai berikut: TheFinancialServicesAuthorityshallperformits duties and powers based on the following principles: 1.asasindependensi,yakniindependendalam pengambilankeputusandanpelaksanaanfungsi, tugasdanwewenangOJK,dengantetapsesuai peraturan perundang-undangan yang berlaku; 1.theprincipleofindependence,istheprincipleof beingindependentinthedecision-makingandthe performanceofthefunctions,dutiesandpowersof the Financial Services Authority, in due accordance with the prevailing laws and regulations. 2.asaskepastianhukum,yakniasasdalamnegara hukumyangmengutamakanlandasanperaturan perundang-undangandankeadilandalamsetiap kebijakanpenyelenggaraanOtoritasJasa Keuangan. 2.theprincipleoflegalcertainty,istheprincipleon whichthestateundertheruleoflawsetsahigher valueineverypolicyofimplementationofthe FinancialServicesAuthorityonthebasisoflaws and regulations and justice. 3.asaskepentinganumum,yakniasasyang membeladanmelindungikepentingankonsumen danmasyarakatsertamemajukankesejahteraan umum. 3.theprincipleofpublicinterest,istheprincipleon which the interests of consumers and the public are servedandprotectedandpublicwelfareis promoted. 4.asasketerbukaan,yakniasasyangmembukadiri terhadaphakmasyarakatuntukmemperoleh informasiyangbenar,jujur,dantidak diskriminatiftentangpenyelenggaraanOtoritas JasaKeuangan,dengantetapmemperhatikan perlindunganatashakasasipribadidan golongan, serta rahasia negara, termasuk rahasia sebagaimanaditetapkandalamperaturan perundang-undangan; 4.theprincipleoftransparency,istheprincipleof receptivenesstothepublicrighttohaveaccessto true,honest,andnondiscriminatoryinformation concerningtheimplementationoftheFinancial ServicesAuthority,withdueregardtothe protectionofthefundamentalrightsofindividuals andgroups,aswellasthestatesecret,including the secret as stated by the laws and regulations; 5.asasprofesionalitas,yakniasasyang mengutamakan keahlian dalam pelaksanaan tugas danwewenangOtoritasJasaKeuangan,dengan tetapberlandaskanpadakodeetikdanketentuan 5.theprincipleofprofessionalism,istheprinciple thatsetsahighervalueonexpertiseinthe performanceofdutiesandpowersoftheFinancial Services Authority with due reference to the code of 6 peraturan perundang-undangan;ethics and the provisions of laws and regulations. 6.asasintegritas,yakniasasyangberpegangteguh padanilai-nilaimoraldalamsetiaptindakandan keputusanyangdiambildalampenyelenggaraan Otoritas Jasa Keuangan. 6.theprincipleofintegrity,istheprinciplethatis committed to the moral value for every measure and decisionmadewithintheimplementationofthe Financial Services Authority. 7.asasakuntabilitas,yakniasasyangmenentukan bahwa setiap kegiatan dan hasil akhir dari setiap kegiatanpenyelenggaraanOtoritasJasa Keuanganharusdapatdipertanggungjawabkan kepada publik. 7.theprincipleofaccountability,istheprinciplethat dictatesthatanyactivityandresultofthe implementationoftheFinancialServicesAuthority must be accounted for publicly. Sejalandenganprinsip-prinsiptatakeloladan asas-asasdiatas,OtoritasJasaKeuanganharus memilikistrukturdenganprinsipcheckand balances.Halinidiwujudkandenganmelakukan pemisahanyangjelasantarafungsi,tugas,dan wewenangpengaturandanpengawasan.Fungsi, tugas,danwewenangpengaturansertapengawasan dilakukan oleh Dewan Komisioner melalui pembagian tugasyangjelasdemipencapaiantujuanOtoritas JasaKeuangan.TugasanggotaDewanKomisioner meliputibidangtugasterkaitkodeetik,pengawasan internal melalui mekanisme dewan audit, edukasi dan perlindungankonsumen,sertafungsi,tugas,dan wewenangpengawasanuntuksektorPerbankan, PasarModal,Perasuransian,DanaPensiun, LembagaPembiayaan,danLembagaJasaKeuangan Lainnya. Consistentwiththeabovegovernanceand principles,theFinancialServicesAuthoritymusthave structurewiththecheckandbalanceprinciple.To makeithappen,clearseparationoftheregulatoryand supervisoryfunctions,duties,andpowersmustbe made.Theregulatoryandsupervisoryfunctions, duties,andpowersshallbeperformedbytheBoardof Commissionersthroughcleardistributionoftasksto achievetheobjectivesoftheFinancialServices Authority.ThetasksofmembersoftheBoardof Commissionersshallincludetasksinconnectionwith thecodeofethics,internaloversightsbymeansofthe mechanism of the audit board, education and consumer protection,aswellasthesupervisoryfunctions,duties, and powers in the sectors of Banking, Capital Markets, Insurance,PensionFunds,FinanceInstitutions,and Other Financial Services Institutions. Berdasarkanlatarbelakangpemikirandanaspek tersebutmakadibentukUndang-Undangtentang Otoritas Jasa Keuangan. Basedontherationalesandaspectsaforeoutlined, there is made a Law concerning The Financial Services Authority. BAB I KETENTUAN UMUM Pasal 1 CHAPTER I GENERAL PROVISIONS Article 1 DalamUndang-Undanginiyangdimaksud dengan: In this Law: 1.OtoritasJ asaKeuangan,yangselanjutnya disingkatOJ K,adalahlembagayang independendanbebasdaricampurtangan pihaklain,yangmempunyaifungsi,tugas, danwewenangpengaturan,pengawasan, pemeriksaan,danpenyidikansebagaimana dimaksud dalam Undang-Undang ini. 1.The Financial Services Authority, hereinafter abbreviated to FSA, means an institution with independenceandfreedomfromany interferenceandwithfunctions,duties,and powerstoregulate,supervise,examine,and investigate as intended by this Law. 2.DewanKomisioneradalahpimpinan tertinggiOJ Kyangbersifatkolektifdan kolegial. 2.The Board of Commissioners means the top managementoftheFinancialServices Authority of collective and collegial nature. 3.KepalaEksekutifadalahanggotaDewan Komisioneryangbertugasmemimpin pelaksanaanpengawasankegiatanjasa keuangandanmelaporkanpelaksanaan tugasnya kepada Dewan Komisioner. 3.ChiefExecutivemeansamemberofthe Board of Commissioners with duties to lead the implementationofsupervisionoffinancial servicesactivitiesandreportsuch implementation of their duties to the Board of Commissioners. 7 4.LembagaJ asaKeuanganadalahlembaga yangmelaksanakankegiatandisektor Perbankan, Pasar Modal, Perasuransian, Dana Pensiun, Lembaga Pembiayaan, dan Lembaga J asa Keuangan Lainnya. 4.FinancialServicesInstitutionmeansan institutionengagedinthesectorsofBanking, CapitalMarkets,Insurance,PensionFunds, FinanceInstitutions,andOtherFinancial Services Institutions. 5.Perbankanadalahsegalasesuatuyang menyangkuttentangbank,mencakup kelembagaan,kegiatanusaha,sertacaradan prosesdalammelaksanakankegiatan usahanyasecarakonvensionaldansyariah sebagaimanadimaksuddalamUndang-UndangmengenaiperbankandanUndang-Undang mengenai perbankan syariah. 5.Bankingmeansanythingthatconstitutes banks, including entities, line of business, and methods and process under which the banking businessactivitiesareperformedina conventional and/or sharia basis as intended by LawconcerningbankingandLawconcerning sharia banking. 6.PasarModaladalahkegiatanyang bersangkutandenganPenawaranUmumdan perdaganganEfek,PerusahaanPublikyang berkaitandenganEfekyangditerbitkannya, sertalembagadanprofesiyangberkaitan denganEfeksebagaimanadimaksuddalam undang-undang mengenai pasar modal. 6.CapitalMarketsmeansactivitiesthat constitute Public Offers and Securities trading, Publicly-HeldCompaniesinconnectionwith Securitiestheyissue,andinstitutionsand professionalsassociatedwithSecuritiesas intended by the law concerning capital markets. 7.Perasuransianadalahusahaperasuransian yang bergerak di sektor usaha asuransi, yaitu usahajasakeuanganyangdengan menghimpundanamasyarakatmelalui pengumpulanpremiasuransimemberikan perlindungankepadaanggotamasyarakat pemakaijasaasuransiterhadaptimbulnya kerugiankarenasuatuperistiwayangtidak pasti atau terhadap hidup atau meninggalnya seseorang,usahareasuransi,danusaha penunjangusahaasuransiyang menyelenggarakanjasakeperantaraan, penilaian kerugian asuransi dan jasa aktuaria, sebagaimana dimaksud dalam undang-undang mengenai usaha perasuransian. 7.Insurancemeansinsurancebusinessthatis engagedintheinsurancebusinesssector,i.e., financialservicesbusinesswhichbypooling public funds through the collection of insurance premiumsprovidesprotectiontothepublic insurance users against the loss arising from an uncertaineventorfrom the life or death of a person,reinsurancebusiness,andinsurance supportbusinessthatprovidesbrokerage services,insurancelossadjustmentand actuarialservices,asintendedbythelaw concerning insurance business. 8.DanaPensiunadalahbadanhukumyang mengeloladanmenjalankanprogramyang menjanjikanmanfaatpensiunsebagaimana dimaksuddalamundang-undangmengenai dana pensiun. 8.PensionFundmeansalegalentitythat managesandimplementsaprogramthat promises retirement benefits as intended by the law concerning pension funds. 9.LembagaPembiayaanadalahbadanusaha yangmelakukankegiatanpembiayaandalam bentukpenyediaandanaataubarangmodal sebagaimanadimaksuddalamperaturan perundang-undanganmengenailembaga pembiayaan. 9.Finance Institution means an entity engaged infinanceactivitiesthroughtheprovisionof funds or capital goods as intended by the laws and regulation concerning finance institutions. 10. LembagaJ asaKeuanganLainnyaadalah pergadaian,lembagapenjaminan,lembaga pembiayaaneksporIndonesia,perusahaan pembiayaansekunderperumahan,dan lembaga yang menyelenggarakan pengelolaan 10. OtherFinancialServicesInstitutionsmeans pawnshops,depositinsuranceinstitutions,the Indonesiacreditexportagency,secondary mortgagecompanies,andinstitutionsthat providesmanagementofmandatorypublic 8 dana masyarakat yang bersifat wajib, meliputi penyelenggaraprogramjaminansosial, pensiun,dankesejahteraan,sebagaimana dimaksuddalamperaturanperundang-undanganmengenaipergadaian,penjaminan, lembagapembiayaaneksporIndonesia, perusahaan pembiayaan sekunder perumahan, danpengelolaandanamasyarakatyang bersifatwajib,sertalembagajasakeuangan lainyangdinyatakandiawasiolehOJ K berdasarkan peraturan perundang-undangan. funds, including social security, retirement and welfare programs, as intended by the laws and regulationsconcerningpawnshops,deposit insuranceinstitutions,theIndonesiacredit export agency, secondary mortgage companies and management of mandatory public funds, as wellasotherfinancialservicesinstitutionsas declaredtobesupervisedbytheFinancial ServicesAuthorityunderthelawsand regulations. 11. PeraturanOJ Kadalahperaturantertulis yangditetapkanolehDewanKomisioner, mengikatsecaraumumdandiundangkan dalam Lembaran Negara Republik Indonesia. 11. RegulationoftheFinancialServices Authoritymeansawrittenregulationthatis issuedbytheBoardofCommissioners, generally binding and promulgated in the State Gazette of the Republic of Indonesia. 12. PeraturanDewanKomisioneradalah peraturan tertulis yang ditetapkan oleh Dewan Komisionerdanmengikatdilingkungan internal OJ K. 12. RegulationoftheBoardofCommissioners means a written regulation that is issued by the Board of Commissioners and internally binding on the Financial Services Authority. 13. BankIndonesiaadalahBankSentral RepublikIndonesiasebagaimanadimaksud dalamUndang-UndangDasarNegara Republik Indonesia Tahun 1945. 13. BankIndonesiameanstheCentralBankof theRepublicofIndonesiaasintendedbythe 1945 Constitution of the Republic of Indonesia. 14. LembagaPenjaminSimpananadalah LembagaPenjaminSimpanansebagaimana dimaksuddalamUndang-Undangmengenai lembaga penjamin simpanan. 14. DepositInsuranceCorporationmeansthe DepositInsuranceCorporationasintendedby theLawconcerningthedepositinsurance corporation. 15. Konsumenadalahpihak-pihakyang menempatkandananyadan/atau memanfaatkanpelayananyangtersediadi Lembaga J asa Keuangan antara lain nasabah padaPerbankan,pemodaldiPasarModal, pemegangpolispadaPerasuransian,dan pesertapadaDanaPensiun,berdasarkan peraturanperundang-undangandisektorjasa keuangan. 15. Consumer means a party who sets up a fund and/or uses the benefit of services available in theFinancialServicesInstitutions,interalia, customersinBanking,investorsinCapital Markets,policyholdersinInsurance,and participantsofPensionFundsunderthelaws and regulation in the financial services sector. 16. PemerintahadalahpemerintahRepublik Indonesia. 16. Governmentmeansthegovernmentofthe Republic of Indonesia. 17. Gubernur Bank Indonesia adalah pemimpin merangkapanggotaDewanGubernurBank Indonesia. 17. GovernorofBankIndonesiameansthe managementwhoservesconcurrentlyas memberoftheBoardofGovernorsofBank Indonesia. 18. MenteriKeuanganadalahmenteriyang menyelenggarakanurusanpemerintahandi bidang keuangan. 18. Minister of Finance means the minister who administers the government affairs in the field of finance. 19. KetuaDewanKomisionerLembaga PenjaminSimpananadalahpemimpin merangkapanggotaDewanKomisioner Lembaga Penjamin Simpanan. 19. Chairman of the Board of Commissioners of theDepositoryInsuranceCorporationmeans themanagementwhoservesconcurrentlyas member of the Board of Commissioners of the 9 Depository Insurance Corporation. 20. Ex-officioadalahjabatanseseorangpada lembagatertentukarenatugasdan kewenangannya pada lembaga lain. 20. Ex-officio means an office of a person in a certain institution because of his/her duties and powers in another institution. 21. KomiteEtikadalahorganpendukung Dewan Komisioner yang bertugas mengawasi kepatuhanDewanKomisioner,pejabatdan pegawai OJ K terhadap kode etik. 21. Ethics Committee means a supporting organ of the Board of Commissioners with duties to supervisethecomplianceoftheBoardof Commissioners, officials and employees of the FinancialServicesAuthoritywiththecodeof ethics. 22. DewanAuditadalahorganpendukung Dewan Komisioner yang bertugas melakukan evaluasiataspelaksanaantugasOJ Kserta menyusun standar audit dan manajemen risiko OJ K. 22. Audit Board means a supporting organ of the BoardofCommissionerswithdutiesto evaluatetheperformanceofdutiesofthe Financial Services Authority and to prepare the auditstandardandriskmanagementofthe Financial Services Authority. 23. Panitia Seleksi adalah panitia yang dibentuk olehPresidenyangbertugasuntukmemilih danmenetapkancalonanggotaDewan Komisioneruntukdisampaikankepada Presiden. 23. Selection Committee means a committee that is formed by the President with duties to select and determine candidate members of the Board ofCommissionersforpresentationtothe President. 24. SetiapOrangadalahorangperseorangan atau korporasi. 24. AnyPersonmeansanyindividualorany corporation. 25. ForumKoordinasiStabilitasSistem Keuanganadalahforumkoordinasiyang dibentukuntukmenjagastabilitassistem keuanganyanganggotanyaterdiriatas MenteriKeuanganselakuKoordinator merangkapanggota,GubernurBank Indonesiaselakuanggota,KetuaDewan KomisionerLembagaPenjaminSimpanan selaku anggota, dan Ketua Dewan Komisioner OJ K selaku anggota. 25. FinancialSystemStabilityCoordinating Forummeansacoordinatingforumthatis formedtosafeguardthefinancialsystem stabilitywithmembersincludingtheMinister of Finance in capacity as Coordinator, serving concurrently as member, the Governor of Bank Indonesia in capacity as member, the Chairman oftheBoardofCommissionersofthe DepositoryInsuranceCorporationincapacity as member, and the Chairman of the Financial Services Authority in capacity as member. Penjelasan Pasal 1: Cukup jelasElucidation of Article 1: Sufficiently clear BAB II PEMBENTUKAN, STATUS, DAN TEMPAT KEDUDUKAN Pasal 2 CHAPTER II ESTABLISHMENT, STATUS, AND DOMICILE Article 2 (1) Dengan Undang-Undang ini dibentuk OJ K.(1) ThereisestablishedbythisLawaFinancial Services Authority. (2) OJ K adalah lembaga yang independen dalam melaksanakan tugas dan wewenangnya, bebas dari campur tangan pihak lain, kecuali untuk hal-halyangsecarategasdiaturdalam Undang-Undang ini. (2) TheFinancialServicesAuthorityshallbean independent agency which in the performance ofitsdutiesandpowersisfreefromthe interferenceofanyotherparty,exceptfor mattersthatareexpresslygovernedbythis Law. Penjelasan Pasal 2: Cukup jelasElucidation of Article 2: Sufficiently clear 10 Pasal 3Article 3 (1) OJ KberkedudukandiibukotaNegara Kesatuan Republik Indonesia. (1) TheFinancialServicesAuthorityshallbe domiciledinthecapitalcityoftheUnitary State of the Republic of Indonesia. (2) OJ K dapat mempunyai kantor di dalam dan di luarwilayahNegaraKesatuanRepublik Indonesiayangdibentuksesuaidengan kebutuhan. (2) The Financial Services Authority may have as necessaryanoffice(s)withinandoutsidethe territory of the Unitary State of the Republic of Indonesia. Penjelasan Pasal 3: Cukup jelasElucidation of Article 3: Sufficiently clear BAB III TUJ UAN, FUNGSI, TUGAS, DAN WEWENANG Pasal 4 CHAPTER III OBJ ECTIVES, FUNCTIONS, DUTIES, AND POWERS Article 4 OJ Kdibentukdengantujuanagarkeseluruhan kegiatan di dalam sektor jasa keuangan: TheFinancialServicesAuthorityisestablished with the objectives that the entire activities of the financial services sector: Penjelasan Pasal 4: Dengan tujuan ini, OJK diharapkan dapat mendukung kepentingansektarjasakeuangannasionalsehingga mampu meningkatkan daya saing nasional. Selain itu, OJKharusmampumenjagakepentingannasional, antaralainmeliputisumberdayamanusia, pengelolaan, pengendalian, dan kepemilikan di sektor jasakeuangan,dengantetapmempertimbangkan aspek positif globalisasi. Elucidation of Article 4: On these objectives, the Financial Services Authority is expected to enable support of the interest of the national financialservicessectorthatcanenhancethenational competitiveness.Furthermore,theFinancialServices Authoritymustenablethesafeguardofthenational interestsincluding,interalia,humanresources, management,controls,andownershipinthefinancial servicessectorwithdueconsiderationofthepositive aspects of globalization. a.terselenggarasecarateratur,adil,transparan, dan akuntabel; a.canbeperformedinorganized,fair, transparent, and accountable manner; Penjelasan Pasal 4 (a): Cukup jelasElucidation of Article 4 (a): Sufficiently clear b.mampumewujudkansistemkeuanganyang tumbuh secara berkelanjutan dan stabil; dan b.can realize the sustainable and stable growth of the financial system; and Penjelasan Pasal 4 (b): Cukup jelasElucidation of Article 4 (b): Sufficiently clear c.mampumelindungikepentinganKonsumen dan masyarakat. c.can protect the interests of Consumers and the public. Penjelasan Pasal 4 (c): Yangdimaksuddenganmelindungikepentingan Konsumendanmasyarakattermasukperlindungan terhadappelanggarandankejahatandisektor keuangansepertimanipulasidanberbagaibentuk penggelapan dalam kegiatan jasa keuangan. Elucidation of Article 4 (c): To protect the interests of Consumers and the public includes the protection from any violation and criminal offensesinthefinancialsector,suchasmanipulation and various evasions in the financial services activities. Pasal 5Article 5 OJ Kberfungsimenyelenggarakansistem pengaturandanpengawasanyangterintegrasi terhadapkeseluruhankegiatandidalamsektor jasa keuangan. TheFinancialServicesAuthorityshallhavethe functionstoimplementtheintegratedregulatory and supervisory system for the entire activities of the financial services sector. 11 Penjelasan Pasal 5: Cukup jelasElucidation of Article 5: Sufficiently clear Pasal 6Article 6 (1) OJ Kmelaksanakantugaspengaturandan pengawasan terhadap: (1) The Financial Services Authority shall perform regulatory and supervisory duties over: a.kegiatanjasakeuangandisektor Perbankan; a.financial services activities in the Banking sector; b.kegiatanjasakeuangandisektorPasar Modal; dan b.financialservicesactivitiesintheCapital Market sector; and c.kegiatanjasakeuangandisektor Perasuransian,DanaPensiun,Lembaga Pembiayaan, dan Lembaga J asa Keuangan Lainnya. c.financial services activities in the sectors of Insurance,PensionFunds,Finance InstitutionsandOtherFinancialServices Institutions. Penjelasan Pasal 6: Cukup jelasElucidation of Article 6: Sufficiently clear Pasal 7Article 7 Untukmelaksanakantugaspengaturandan pengawasandisektorPerbankansebagaimana dimaksud dalam Pasal 6 huruf a, OJ K mempunyai wewenang: To perform the regulatory and supervisory duties in the Banking sector as intended by Article 6 point (a), the Financial Services Authority shall have the powers: a.pengaturandanpengawasanmengenai kelembagaan bank yang meliputi: a.toregulateandsupervisebankentitiesthat includes: 1.perizinanuntukpendirianbank, pembukaankantorbank,anggarandasar, rencana kerja, kepemilikan, kepengurusan dansumberdayamanusia,merger, konsolidasidanakuisisibank,serta pencabutan izin usaha bank; dan 1.licensingforestablishmentofbanks, openingbanks,thearticlesofassociation, working plans, ownership, management and humanresources,bankmergers, consolidationsandacquisitions,aswellas revocation of bank licenses; and 2.kegiatanusahabank,antaralainsumber dana,penyediaandana,produkhibridasi, dan aktivitas di bidang jasa; 2.theactivitiesofbankbusiness,interalia, fundsources,provisionoffunds, hybridization products, and activities in the field of services; b.pengaturandanpengawasanmengenai kesehatan bank yang meliputi: b.to regulate and supervise bank soundness that includes: 1.likuiditas,rentabilitas,solvabilitas, kualitasaset,rasiokecukupanmodal minimum,batasmaksimumpemberian kredit, rasio pinjaman terhadap simpanan, dan pencadangan bank; 1.liquidity,rentability,solvability,asset quality,minimumcapitaladequacyratio, legallendinglimits,loan-to-depositratio, and bank reserves; 2.laporanbankyangterkaitdengan kesehatan dan kinerja bank; 2.bankreportsconcerningbanksoundness and performance; 3.sistem informasi debitur;3.debtor information system; 4.pengujian kredit (credit testing); dan 4.credit testing; and 5.standar akuntansi bank;5.bank accounting standards; c.pengaturandanpengawasanmengenaiaspek kehati-hatian bank, meliputi: c.to regulate and supervise prudential aspects that include: 12 1.manajemen risiko;1.risk management; 2.tata kelola bank;2.bank governance; 3.prinsipmengenalnasabahdananti pencucian uang; dan 3.knowyourcustomerandanti-money laundering principles; and 4.pencegahanpembiayaanterorismedan kejahatan perbankan; dan 4.preventionofterrorismfinancingand banking criminal offenses; and d.pemeriksaan bank.d.bank examination. Penjelasan Pasal 7: Pengaturan dan pengawasan mengenai kelembagaan, kesehatan, aspek kehati-hatian, dan pemeriksaan bank merupakanlingkuppengaturandanpengawasan microprudentialyangmenjaditugasdanwewenang OJK.Adapunlingkuppengaturandanpengawasan macroprudential,yaknipengaturandanpengawasan selainhalyangdiaturdalampasalini,merupakan tugasdanwewenangBankIndonesia. Dalamrangka pengaturandanpengawasanmacroprudential,OJK membantu Bank Indonesia untuk melakukan himbauan moral (moral suasion) kepada Perbankan. Elucidation of Article7: Regulationandsupervisionofentities,soundness, prudentialaspectsandbankexaminationshallbe withinthescopeofmicroprudentialregulationand supervisionwhichconstitutethedutiesandpowersof theFinancialServicesAuthority.Thescopeof microprudentialregulationandsupervision,i.e.,the regulationandsupervisionotherthangovernedbythis article,shallbethedutiesandpowersofBank Indonesia.Intermsofthemicroprudentialregulation andsupervision,theFinancialServicesAuthorityshall assistBankIndonesiainexertingmoralsuasionupon Banking. Pasal 8Article 8 Untukmelaksanakantugaspengaturan sebagaimanadimaksuddalamPasal6,OJ K mempunyai wewenang: Toperformtheregulatorydutiesasintendedby Article6,theFinancialServicesAuthorityshall have the powers to: a.menetapkanperaturanpelaksanaanUndang-Undang ini; a.issue ancillary regulations to this Law; Penjelasan Pasal 8 (a): Cukup jelasElucidation of Article 8 (a): Sufficiently clear b.menetapkan peraturan perundang-undangan di sektor jasa keuangan; b.issuelawsandregulationsinthefinancial services sector; Penjelasan Pasal 8 (b): Yangdimaksuddenganperaturanperundang-undangan di sektor jasa keuangan adalah peraturan perundang-undanganmengenaiLembagaJasa Keuangandanpihakyangmelakukankegiatandi sektor jasa keuangan. Elucidation of Article 8 (b): Laws and regulations in the financial services sector meansthelawsandregulationsconcerningFinancial ServicesInstitutionsandpartiesengagedinthe financial services sector activities; c.menetapkan peraturan dan keputusan OJ K;c.issue regulations and decisions of the Financial Services Authority; Penjelasan Pasal 8 (c): Cukup jelasElucidation of Article 8 (c): Sufficiently clear d.menetapkanperaturanmengenaipengawasan di sektor jasa keuangan; d.issue regulations concerning supervision in the financial services sector; Penjelasan Pasal 8 (d): Cukup jelasElucidation of Article 8 (d): Sufficiently clear e.menetapkan kebijakan mengenai pelaksanaan tugas OJ K; e.issue policy on the implementation of the duties of the Financial Services Authority; Penjelasan Pasal 8 (e): Cukup jelasElucidation of Article 8 (e): Sufficiently clear f.menetapkanperaturanmengenaitatacara penetapan perintah tertulis terhadap Lembaga J asa Keuangan dan pihak tertentu; f.issueregulationsconcerningproceduresfor issuingwrittenordersagainstFinancial Services Institutions and certain parties; 13 Penjelasan Pasal 8 (f): Yangdimaksuddenganperintahtertulisadalah perintahsecaratertulisuntukmelaksanakanatau tidak melaksanakan kegiatan tertentu guna memenuhi ketentuanperaturanperundang-undangandisektor jasakeuangandan/ataumencegahdanmengurangi kerugianKonsumen,masyarakat,dansektorjasa keuangan. Elucidation of Article 8 (f): Writtenordermeansawrittenordertoperformor not to perform certain activities in compliance with the provisionsoflawsandregulationsinthefinancial services sector and/or to prevent and reduce the loss of Consumers,thepublic,andthefinancialservices sector. Perintahtertulisdiberikanantaralainuntuk menggantipengurusataupihaktertentudiLembaga JasaKeuangan,menghentikan,membatasi,atau memperbaikikegiatanusahaatautransaksi, menghentikanataumengubahperjanjianantara LembagaJasaKeuangandenganpihaklainyang diduga merugikan Konsumen, masyarakat, dan sektor jasakeuangan,sertamenyampaikaninformasi, dokumen, dan/atau laporan tertentu kepada OJK.A written order shall be issued to, inter alia, replace the management or certain parties in the Financial Services Institutions,tocease,limit,orimprovethebusiness activitiesortransactions,toterminateoramend agreements between Financial Services Institutions and otherpartiessuspectedofharmingtheConsumers,the public,andthefinancialservicessector,aswellasto submitcertaininformation,documents,and/orreports to the Financial Services Authority. g.menetapkanperaturanmengenaitatacara penetapanpengelolastatuterpadaLembaga J asa Keuangan; g.issueregulationsconcerningproceduresfor determinationofstatutorymanagersin Financial Services Institutions; Penjelasan Pasal 8 (g): Yangdimaksuddenganpengelolastatuteradalah orangperseoranganataubadanhukumyang ditetapkanOJKuntukmelaksanakankewenangan OJK. Elucidation of Article 8 (g): Statutorymanagermeansanindividualorlegal entitythatisconfirmedbytheFinancialServices AuthoritytoexercisethepowersoftheFinancial Services Authority. PengelolastatutermelaksanakankewenanganOJK, antaralain,untukmemenuhiketentuanperaturan perundang-undangandisektorjasakeuangan, mencegahdanmengurangikerugianKonsumen, masyarakat,dansektorjasakeuangan,dan/atau pemberantasankejahatankeuanganyangdilakukan pihak tertentu di sektor jasa keuangan. Astatutorymanagershallexercisethepowersofthe Financial Services Authority, to, inter alia, comply with theprovisionsoflawsandregulationsinthefinancial servicessector,topreventandreducethelossof Consumers,thepublic,andthefinancialservices sector,and/ortoeradicatefinancialcriminaloffenses thatarecommittedbycertainpartiesinthefinancial services sector.Langkahyangdilakukanpengelolastatuterantara lainmelaluipenyelamatankelangsunganusaha LembagaJasaKeuangantertentu,pengambilalihan seluruhwewenangdanfungsimanajemenLembaga JasaKeuanganolehpengelolastatuter,pembatalan ataupengakhiranperjanjian,sertapengalihan portofoliokekayaanatauusahadariLembagaJasa Keuangan. Measures to be taken by the statutory manager shall be, interalia,thesafeguardoftheongoingbusinessof certainFinancialServicesInstitutions,takeoverofall ofthepowersandfunctionsofthemanagementof FinancialServicesInstitutionsbythestatutory manager,cancellationorterminationofagreements, transferofassetorbusinessportfolioofFinancial Services Institutions.h.menetapkanstrukturorganisasidan infrastruktur,sertamengelola,memelihara, danmenatausahakankekayaandan kewajiban; dan h.establishthestructureoforganizationand infrastructure, as well as manage, maintain, and administer the assets and liabilities; and Penjelasan Pasal 8 (h): Cukup jelasElucidation of Article 8 (h): Sufficiently clear i.menetapkanperaturanmengenaitatacara pengenaansanksisesuaidenganketentuan peraturanperundang-undangandisektorjasa keuangan. i.issueregulationsconcerningproceduresfor imposition of sanctions under the provisions of lawsandregulationsinfinancialservices sector. Penjelasan Pasal 8 (i): Cukup jelasElucidation of Article 8 (i): Sufficiently clear Pasal 9Article 9 14 Untukmelaksanakantugaspengawasan sebagaimanadimaksuddalamPasal6,OJ K mempunyai wewenang: To perform the supervisory duties as intended by Article6,theFinancialServicesAuthorityshall have the powers to: a.menetapkankebijakanoperasional pengawasan terhadap kegiatan jasa keuangan; a.establishoperatingpoliciesconcerning supervision of financial services activities; Penjelasan Pasal 9 (a): Cukup jelasElucidation of Article 9 (a): Sufficiently clear b.mengawasipelaksanaantugaspengawasan yang dilaksanakan oleh Kepala Eksekutif. b.supervisetheimplementationofthe supervisorydutiesperformedbytheChief Executive. Penjelasan Pasal 9 (b): PengawasanDewanKomisionerterhadap pelaksanaantugasKepalaEksekutifditujukanuntuk mengevaluasidanmemperbaikikinerjadariKepala Eksekutif.Pengawasantersebuttidakdimaksudkan untukmemberikewenangankepadaDewan Komisioneruntukmengintervensiatauturutcampur terhadappelaksanaantugasdanwewenangsetiap Kepala Eksekutif. Elucidation of Article 9 (b): Supervision by the Board of Commissioners against the implementation of the duties of the Chief Executive aims toevaluateandimprovetheperformanceoftheChief Executive.No supervision is intended to confer powers upontheBoardofCommissionerstointerveneor interfereintheimplementationofanydutyandpower of the Chief Executive. c.melakukanpengawasan,pemeriksaan, penyidikan,perlindunganKonsumen,dan tindakanlainterhadapLembagaJ asa Keuangan,pelaku,dan/ataupenunjang kegiatanjasakeuangansebagaimana dimaksuddalamperaturanperundang-undangan di sektor jasa keuangan; c.makesupervision,examination,investigation, Consumerprotection,andotheractsof FinancialServicesInstitutions,financial servicesprovidersand/orsupportingbusiness as intended by the laws and regulations in the financial services sector; Penjelasan Pasal 9 (c): Cukup jelasElucidation of Article 9 (c): Sufficiently clear d.memberikan perintah tertulis kepada Lembaga J asa Keuangan dan/atau pihak tertentu; d.issuewrittenorderstoFinancialServices Institutions and/or certain parties; Penjelasan Pasal 9 (d): Cukup jelasElucidation of Article 9 (d): Sufficiently clear e.melakukan penunjukan pengelola statuter;e.appoint statutory managers; Penjelasan Pasal 9 (e): Cukup jelasElucidation of Article 9 (e): Sufficiently clear f.menetapkan penggunaan pengelola statuter;f.determinetheengagementofstatutory managers; Penjelasan Pasal 9 (f): Cukup jelasElucidation of Article 9 (f): Sufficiently clear g.menetapkansanksiadministratifterhadap pihakyangmelakukanpelanggaranterhadap peraturanperundang-undangandisektorjasa keuangan; dan g.imposeadministrativesanctionsonparties having committed a violation of the laws and regulations in the financial services sector; and Penjelasan Pasal 9 (g): Cukup jelasElucidation of Article 9 (g): Sufficiently clear h.memberikan dan/atau mencabut: h.issue and/or revoke: 1.izin usaha;1.business licenses; 2.izin orang perseorangan;2.individual licenses; 3.efektifnya pernyataan pendaftaran; 3.effective date of registration statements; 4.surat tanda terdaftar;4.certificates of registration; 5.persetujuan melakukan kegiatan usaha;5.business approvals; 6.pengesahan;6.validation; 15 7.persetujuanataupenetapanpembubaran; dan 7.approvals or orders for dissolution; and 8.penetapan lain,8.other orders, sebagaimanadimaksuddalamperaturan perundang-undangan di sektor jasa keuangan. as intended by the laws and regulations in the financial services sector. Penjelasan Pasal 9 (h): Cukup jelasElucidation of Article 9 (h): Sufficiently clear BAB IV DEWAN KOMISIONER Bagian Kesatu Struktur Dewan Komisioner Pasal 10 CHAPTER IV THE BOARD OF COMMISSIONERS Part One Structure of the Board of Commissioners Article 10 (1) OJ K dipimpin oleh Dewan Komisioner.(1) TheFinancialServicesAuthorityshallbe managed by the Board of Commissioners. Penjelasan Pasal 10 Ayat (1): DewanKomisionermerupakanpimpinantertinggi OJK.Dalam rangka pelaksanaan kerja sama dengan otoritas lembaga pengawas lembaga jasa keuangan di negaralainsertaorganisasiinternasionaldan lembagainternasionallainnyadisektorjasa keuangan,anggotaDewanKomisionerbertindak sebagai pejabat yang mewakili negara. Elucidation of Article 10 Section (1): TheBoardofCommissionersshallbethetop managementoftheFinancialServicesAuthority.A member of the Board of Commissioners shall act as the officialthatrepresentsthestateinthescopeof cooperationwiththefinancialservicessupervisory authorities/institutionsofothercountriesaswellas otherinternationalorganizationsandinternational institutions in the financial services sector. (2) DewanKomisionersebagaimanadimaksud pada ayat (1) bersifat kolektif dan kolegial. (2) TheBoardofCommissionersasintendedby section (1) shall be of collective and collegial nature. Penjelasan Pasal 10 (2): Yangdimaksuddenganbersifatkolektifadalah bahwasetiappengambilankeputusanDewan Komisionerdiputuskansecarabersama-samaoleh anggota Dewan Komisioner. Elucidation of Article 10 (2): Ofcollectivenaturemeansthatanydecisionbythe BoardofCommissionersshallbecollectivelymadeby the members of the Board of Commissioners. Yangdimaksuddenganbersifatkolegialadalah bahwasetiappengambilankeputusanDewan Komisionerberdasarkanmusyawarahuntukmufakat denganberasaskankesetaraandankekeluargaandi antara anggota Dewan Komisioner. Of collegial nature means that any decision made by theBoardofCommissionersshallbeonthebasisof deliberation to reach a consensus with the equality and familyprinciplesamongstthemembersoftheBoardof Commissioners. (3) Dewan Komisioner mempunyai 9 (sembilan) oranganggotayangditetapkandengan Keputusan Presiden. (3) TheBoardofCommissionersshallbe comprisedofnine(9)membersasconfirmed by Decision of the President. Penjelasan Pasal 10 (3): Cukup jelasElucidation of Article 10 (3): Sufficiently clear (4) SusunanDewanKomisionersebagaimana dimaksud pada ayat (3) terdiri atas: (4) ThecompositionoftheBoardof Commissioners as intended by section (3) shall include: a.seorang Ketua merangkap anggota;a.aChairman,servingconcurrentlyas member; Penjelasan Pasal 10 (4) (a): Cukup jelasElucidation of Article 10 (4) (a): Sufficiently clear b.seorangWaki1KetuasebagaiKetua Komite Etik merangkap anggota; b.aViceChairman,astheChairmanofthe EthicsCommittee,servingconcurrentlyas member; 16 Penjelasan Pasal 10 (4) (b): Cukup jelasElucidation of Article 10 (4) (b): Sufficiently clear c.seorangKepalaEksekutifPengawas Perbankan merangkap anggota; c.a Chief Executive of Banking Supervision, serving concurrently as member; Penjelasan 10 (4) (c): KepalaEksekutifPengawasPerbankanmemimpin tugaspengawasanterhadapkegiatanjasakeuangan di sektor Perbankan. Elucidation of Article 10 (4) (c): TheChiefExecutiveofBankingSupervisionshall managethesupervisorydutiesagainstfinancial services activities in the Banking sector. d.seorang Kepala Eksekutif Pengawas Pasar Modal merangkap anggota; d.aChiefExecutiveofCapitalMarket Supervision,servingconcurrentlyas member; Penjelasan Pasal 10 (4) (d): KepalaEksekutifPengawasPasarModalmemimpin tugaspengawasanterhadapkegiatanjasakeuangan di sektor Pasar Modal. Elucidation of Article 10 (4) (d): TheChiefExecutiveofCapitalMarketSupervision shallmanagethesupervisorydutiesagainstfinancial services activities in the Capital Market sector. e.seorangKepalaEksekutifPengawas Perasuransian,DanaPensiun,Lembaga Pembiayaan, dan Lembaga J asa Keuangan Lainnya merangkap anggota; e.aChiefExecutiveofInsurance,Pension Fund,FinanceInstitution,andOther FinancialServicesInstitutionSupervision, serving concurrently as member; Penjelasan Pasal 10 (4) (e): KepalaEksekutifPengawasPerasuransian,Dana Pensiun,LembagaPembiayaandanLembagaJasa KeuanganLainnyamemimpintugaspengawasan terhadapkegiatanjasakeuangandisektor Perasuransian, Dana Pensiun, Lembaga Pembiayaan. dan Lembaga Jasa Keuangan Lainnya. Elucidation of Article 10 (4) (e): TheChiefExecutiveofInsurance,PensionFund, FinanceInstitution,andOtherFinancialServices InstitutionSupervisionshallmanagethesupervisory duties against financial services activities in the sectors ofInsurance,PensionFund,FinanceInstitution,and Other Financial Services Institution. f.seorangKetuaDewanAuditmerangkap anggota; f.aChairmanoftheAuditBoard,serving concurrently as member; Penjelasan Pasal 10 (4) (f): Cukup jelasElucidation of Article 10 (4) (f): Sufficiently clear g.seoranganggotayangmembidangi edukasi dan perlindungan Konsumen; g.amemberinchargeofeducationand Consumer protection; Penjelasan Pasal 10 (4) (g): Cukup jelasElucidation of Article 10 (4) (g): Sufficiently clear h.seoranganggotaEx-officiodariBank Indonesiayangmerupakananggota Dewan Gubernur Bank Indonesia; dan h.anEx-officiomemberofBankIndonesia who is a member of the Board of Governors of Bank Indonesia; and Penjelasan Pasal 10 (4) (h): Cukup jelasElucidation of Article 10 (4) (h): Sufficiently clear i.seoranganggotaEx-officiodari KementerianKeuanganyangmerupakan pejabatsetingkateselonIKementerian Keuangan. i.anEx-officiomemberoftheMinistryof Financewhoisanofficialofcomparable ranktotheechelonIoftheMinistryof Finance. Penjelasan Pasal 10 (4) (i): Cukup jelasElucidation of Article 10 (4) (i): Sufficiently clear (5) AnggotaDewanKomisionersebagaimana dimaksudpadaayat(4)memilikihaksuara yang sama. (5) A members of the Board of Commissioners as intended by section (4) shall enjoy equal voting rights. Penjelasan Pasal 10 (5): Setiap anggota Dewan Komisioner memiliki hak untuk memberikanpendapatdalamsetiapproses pengambilankeputusanDewanKomisioner,dan memilikihaksuarapadasaatkeputusanditetapkan berdasarkan suara terbanyak. Elucidation of Article 10 (5): Any member of the Board of Commissioners shall have therighttoexpressopinionsinanydecision-making processbytheBoard ofCommissionersandshallhave voting rights for any decision made by majority vote. 17 Bagian Kedua Pengangkatan dan Pemberhentian Pasal 11 Part Two Appointment and Dismissal Article 11 (1) AnggotaDewanKomisionersebagaimana dimaksuddalamPasall0ayat(4)hurufa sampaidenganhurufgdipiliholehDewan Perwakilan Rakyat berdasarkan calon anggota yang diusulkan oleh Presiden. (1) MembersoftheBoardofCommissionersas intendedbyArticlel0section(4)point(a) through point (g) shall be elected by the House ofRepresentativesuponthenominationof candidate members by the President. Penjelasan Pasal 11 (1): DalampenyampaiancalonanggotaDewan KomisionerkepadaDewanPerwakilanRakyat, Presidenmenyampaikannama-namacalonDewan Komisioner. Elucidation of Article 11 (1): TopresentthecandidatemembersoftheBoardof CommissionerstotheHouseofRepresentatives,the Presidentshallpresentthenamesofthecandidate membersoftheBoardofCommissionerstotheHouse of Representatives. YangdimaksuddenganDewanPerwakilanRakyat adalahalatkelengkapanDewanPerwakilanRakyat yang membidangi keuangan dan perbankan.TheHouseofRepresentativesmeansthe instrumentalityoftheHouseofRepresentativesin charge of finance and banking. (2) Pemilihandanpenentuancalonanggota DewanKomisioneruntukdiusulkankepada Presiden sebagaimana dimaksud pada ayat (1) dilaksanakanolehPanitiaSeleksiyang dibentuk dengan Keputusan Presiden: (2) Theselectionanddeterminationofcandidate membersoftheBoardofCommissionersfor nominationtothePresidentasintendedby section(1)shallbemadebytheSelection CommitteethatisformedbyDecisionofthe President: a.palingsingkat6(enam)bulansebelum berakhirnya masa jabatan anggota Dewan Komisioner; atau a.within six (6) months prior to the expiration of the term of office of the member of the Board of Commissioners; or b.palinglama2(dua)bulansejaktanggal kekosonganjabatanataupenetapan pemberhentiananggotaDewan Komisionerkarenaalasansebagaimana dimaksud dalam Pasal 17 ayat (1) huruf a, huruf b, huruf d, huruf e, huruf f, huruf g, huruf h, huruf i, dan/atau huruf j. b.within two (2) months of the vacancy of the positionortheorderofdismissalofthe memberoftheBoardofCommissioners duetoreasonsasintendedbyArticle17 section(1)point(a),point(b),point(d), point(e),point(f),point(g),point(h), point (i), and/or point (j). Penjelasan Pasal 11 (2): Cukup jelasElucidation of Article 11 (2): Sufficiently clear (3) PanitiaSeleksisebagaimanadimaksudpada ayat(2)beranggotakan9(sembilan)orang yangterdiriatasunsurPemerintah,Bank Indonesia, dan masyarakat. (3) TheSelectionCommitteeasintendedby section(2)shallhavenine(9)members includingtheelementsfromtheGovernment, Bank Indonesia, and the public. Penjelasan Pasal 11 (3): Yangdimaksuddenganunsurmasyarakatadalah akademisidisektorjasakeuangan,masyarakat industriPerbankan,industriPasarModal,dan/atau IndustriKeuanganNon-Bankyangmeliputi Perasuransian, Dana Pensiun, Lembaga Pembiayaan, dan Lembaga Jasa Keuangan Lainnya. Elucidation of Article 11 (3): The elements from the public means academics in the financeservicessector,communitiesofBanking industry,CapitalMarketindustry,and/orNon-Bank FinancialIndustrythatincludeInsurance,Pension Funds,FinanceInstitutions,andOtherFinancial Services Institutions. (4) PanitiaSeleksimengumumkanpenerimaan calonanggotaDewanKomisioner sebagaimana dimaksud pada ayat (1) kepada masyarakatpalinglama5(lima)harikerja (4) TheSelectionCommitteeshallannouncethe enrollment of candidate members of the Board of Commissioners as intended by section (1) to the public within five (5) working days of the 18 setelahditetapkannyaPanitiaSeleksi sebagaimana dimaksud pada ayat (2).formationoftheSelectionCommitteeas intended by section (2). Penjelasan Pasal 11 (4): Di samping mengumumkan penerimaan calon anggota Dewan Komisioner, Panitia Seleksi secara aktif dapat mencari calon-calon yang memenuhi persyaratan dan keterwakilansesuaidengankeahliannyadarisektor jasa keuangan yang diawasi OJK. Elucidation of Article 11 (4): Inadditiontoannouncingtheenrollmentofcandidate membersoftheBoardofCommissioners,theSelection Committeemayactivelyseekqualifiedand representativecandidateswithfinanceservicessector expertiseassupervisedbytheFinancialServices Authority. (5) Pendaftaran calon dilakukan dalam waktu 12 (dua belas) hari kerja secara terus menerus.(5) Theenrollmentofcandidatesshallbemade within twelve (12) consecutive working days. Penjelasan Pasal 11 (5): PendaftarancalonanggotaDewanKomisioner memperhatikansyarat-syaratsebagaimanadimaksud dalam Undang-Undang ini. Elucidation of Article 11 (5): TheenrollmentofcandidatemembersoftheBoardof Commissionersshallobservetherequirementsas intended by this Law. (6) PanitiaSeleksimelakukanseleksi administratifterhadapcalonanggotaDewan Komisioner sebagaimana dimaksud pada ayat (5). (6) TheSelectionCommitteeshallhold administrativeselectionofthecandidate membersoftheBoardofCommissionersas intended by section (5). Penjelasan Pasal 11 (6): Yang dimaksud dengan seleksi administratif adalah seleksiterhadapcalonanggotaDewanKomisioner sesuaidenganpersyaratansebagaimanadimaksud dalam Undang-Undang ini. Elucidation of Article 11 (6): Administrativeselectionmeansselectionofthe candidatemembersoftheBoardofCommissioners pursuant to the requirements as intended by this Law. (7) PanitiaSeleksimengumumkannamacalon yangtelahlulusseleksiadministratifuntuk mendapatkan masukan dari masyarakat paling lama5(lima)harikerjasejakberakhirnya waktupendaftarancalonsebagaimana dimaksud pada ayat (5). (7) TheSelectionCommitteeshallannouncethe namesofcandidatesthatpassthe administrative selection for public inputs within (5) working days of the expiration of candidate enrollment period as intended by section (5). Penjelasan Pasal 11 (7): Cukup jelasElucidation of Article 11 (7): Sufficiently clear (8) Masukansebagaimanadimaksudpadaayat (7) disampaikan kepada Panitia Seleksi dalam waktu 12 (dua belas) hari kerja terhitung sejak tanggal diumumkan. (8) Inputs as intended by section (7) shall be given to the Selection Committee within twelve (12) working days of the date of announcement. Penjelasan Pasal 11 (8): Cukup jelasElucidation of Article 11 (8): Sufficiently clear (9) PanitiaSeleksimelakukanpenilaiandan pemilihan serta menyampaikan calon anggota Dewan Komisioner kepada Presiden sebanyak 3(tiga)orangcalonuntuksetiapanggota DewanKomisioneryangdibutuhkan,paling lama 12 (dua belas) hari kerja terhitung sejak berakhirnyajangkawaktusebagaimana dimaksud pada ayat (8). (9) The Selection Committee shall make evaluation andselectionandpresentthree(3)candidate members of the Board of Commissioners to the Presidentforeachrequisitememberofthe BoardofCommissionerswithintwelve(12) working days of the expiration of the period as intended by section (8). Penjelasan Pasal 11 (9): Yangdimaksuddengan3(tiga)orangcalonuntuk setiapanggotaDewanKomisioneradalahbahwa dalampengajuancalon,PanitiaSeleksi menyampaikan3(tiga)orangcalonuntuksetiap anggotaDewanKomisionerdengankualifikasi keahliandanpengalamanyangproporsionaldalam Elucidation of Article 11 (9): Three (3) candidates for each member of the Board of Commissionersmeansthatinthenominationofthe candidates,theSelectionCommitteeshallnominate three(3)candidatesforeachmemberoftheBoardof Commissioners with the qualification of expertise being inproportiontotheexperienceinfinancialservices 19 industrijasakeuangan.Untuk7(tujuh)orang anggota Dewan Komisioner yang dibutuhkan, Panitia SeleksimengajukankepadaPresidensebanyak21 (duapuluhsatu)orangcalonanggotaDewan Komisioner. industry.TheSelectionCommitteeshallnominateto thePresidenttwenty-one(21)candidatesoftheBoard ofCommissionersforseven(7)requisitemembersof the Board of Commissioners. Pasal 12Article 12 (1) Presidenmemilihdanmenyampaikancalon anggota Dewan Komisioner sebanyak 2 (dua) orangcalonuntuksetiapanggotaDewan KomisioneryangdibutuhkankepadaDewan PerwakilanRakyat,palinglama12(dua belas)harikerjaterhitungsejaktanggal diterimanyanamacalonanggotaDewan Komisioner dari Panitia Seleksi sebagaimana dimaksud dalam Pasal 11 ayat (9). (1) The President shall select and present two (2) candidates of the Board of Commissioners for eachrequisitememberoftheBoardof Commissioners to the House of Representatives within twelve (12) working days of the date the names of the candidate members of the Board ofCommissionersarereceivedfromthe Selection Committee as intended by Article 11 section (9). Penjelasan Pasal 12 (1): Untuk7(tujuh)oranganggotaDewanKomisioner yangdibutuhkan,Presidenmengajukankepada Dewan Perwakilan Rakyat sebanyak 14 (empat belas) orang calon anggota Dewan Komisioner. Elucidation of Article 12 (1): Forseven(7)requisitemembersoftheBoardof Commissioners,thePresidentshallpresentfourteen (14) candidate members of the Board of Commissioners to the House of Representatives. (2) DaricalonanggotaDewanKomisioner sebagaimanadimaksudpadaayat(1), Presiden mengajukan sebanyak 2 (dua) orang calonanggotaDewanKomisioneruntuk dipiliholehDewanPerwakilanRakyat sebagai Ketua Dewan Komisioner. (2) Out of the candidate members of the Board of Commissioners as intended by section (1), the Presidentshallpresenttwo(2)candidate membersoftheBoardofCommissionersfor electionastheChairmanoftheBoardof CommissionerstotheHouseof Representatives. Penjelasan Pasal 12 (2): Ketentuaninihanyaberlakuapabilaterdapat kebutuhanuntukmengisijabatanKetuaDewan Komisioner. Elucidation of Article 12 (2): Thisprovisionshallonlyapplyintheeventofneedto fillthepositionoftheChairmanoftheBoardof Commissioners. (3) Calon anggota Dewan Komisioner yang tidak terpilihmenjadiKetuaDewanKomisioner sebagaimanadimaksudpadaayat(2) diikutsertakanuntukdipilihsebagaianggota DewanKomisionerolehDewanPerwakilan Rakyat. (3) ThecandidatememberoftheBoardof Commissioners who is unelected Chairman of theBoardofCommissionersasintendedby section (2) shall be sent for election as member of the Board of Commissioners by the House of Representatives. Penjelasan Pasal 12 (3): Ketentuaninihanyaberlakuapabilaterdapat kebutuhanuntukmengisijabatanKetuaDewan Komisioner dan paling sedikit 1 (satu) orang anggota Dewan Komisioner. Elucidation of Article 12 (3): Thisprovisionshallonlyapplyintheeventofneedto fillthepositionoftheChairmanoftheBoardof Commissionersandatleastone(1)memberofthe Board of Commissioners. (4) DewanPerwakilanRakyatmemilihcalon anggotaDewanKomisionersesuaidengan jumlahanggotaDewanKomisioneryang dibutuhkan,palinglama45(empatpuluh lima) hari kerja sejak diterimanya nama-nama calonanggotaDewanKomisionerdari Presidensebagaimanadimaksudpadaayat (1). (4) TheHouseofRepresentativesshallelectthe candidatemembersoftheBoardof Commissionersaccordingtotherequisite numberofmembersoftheBoardof Commissioners, within forty-five (45) working daysofthereceiptofthenamesofthe candidatemembersoftheBoardof Commissioners from the President as intended by section (1). 20 Penjelasan Pasal 12 (4): DalamrangkamemilihcalonanggotaDewan Komisioner,DewanPerwakilanRakyatdapat memintacalonanggotaDewanKomisioneruntuk melakukanpresentasidalamsidangDewan PerwakilanRakyatmenyangkutvisi,pengalaman, keahlianataukemampuan,sertahal-halyang berkaitandenganmoraldanakhlakanggotaDewan Komisioner. Elucidation of Article 12 (4): In the election of the candidate members of the Board of Commissioners,theHouseofRepresentativesmaycall uponthecandidatemembersoftheBoardof Commissionerstogiveapresentationatthesessionof theHouseofRepresentativesaddressingthevision, experience, expertise or capability, as well as maters in connectionwithmoralsandcharacterofthemembers of the Board of Commissioners. Yangdimaksuddengan45(empatpuluhlima)hari kerja tidak termasuk masa reses. Forty-five (45) working days does not include recess. (5) CalonanggotaDewanKomisionerterpilih disampaikanDewanPerwakilanRakyat kepadaPresidenpalinglama5(lima)hari kerja sejak selesainya proses pemilihan calon anggotaDewanKomisionersebagaimana dimaksud pada ayat (4). (5) Themember-electsoftheBoardof Commissioners shall be presented by the House of Representatives to the President within five (5)workingdaysupontheconclusionofthe electionofmembersoftheBoardof Commissioners as intended by section (4). Penjelasan Pasal 12 (5): Yangdimaksuddenganselesainyaprosespemilihan calonanggotaDewanKomisioneradalahsejak ditetapkannyadirapatparipumaDewanPerwakilan Rakyat. Elucidation of Article 12 (5): Theconclusionoftheelectionofmembersofthe BoardofCommissionersmeansupontheconclusion asstatedattheplenarysessionoftheHouseof Representatives. (6) Presidenmengangkatdanmenetapkancalon terpilihsebagaianggotaDewanKomisioner palinglama30(tigapuluh)harikerja terhitungsejaktanggalditerimanyanama calon anggota Dewan Komisioner terpilih dari Dewan Perwakilan Rakyat. (6) ThePresidentshallappointandconfirmthe member-electsasmembersoftheBoardof Commissioners within thirty (30) working days of the date the names of the member-elects of the Board of Commissioners are received from the House of Representatives. Penjelasan Pasal 12 (6): Cukup jelasElucidation of Article 12 (6): Sufficiently clear Pasal 13Article 13 (1) AnggotaDewanKomisionersebagaimana dimaksuddalamPasal10ayat(4)hurufh diangkat dan ditetapkan Presiden berdasarkan usulan Gubernur Bank Indonesia. (1) MembersoftheBoardofCommissionersas intendedbyArticle10section(4)point(h) shall be appointed upon the nomination by the Governor of Bank Indonesia. (2) AnggotaDewanKomisionersebagaimana dimaksuddalamPasal10ayat(4)hurufi diangkat dan ditetapkan Presiden berdasarkan usulan Menteri Keuangan. (2) MembersoftheBoardofCommissionersas intended by Article 10 section (4) point (i) shall beappointedandconfirmedbythePresident uponthenominationbytheMinisterof Finance. Penjelasan Pasal 13: Cukup jelasElucidation of Article 13: Sufficiently clear Pasal 14Article 14 (1) Ketua,WakilKetua,dananggotaDewan Komisionerdiangkatdanditetapkandengan Keputusan Presiden. (1) TheChairman,ViceChairman,andmembers oftheBoardofCommissionersshallbe appointedandconfirmedbyDecisionofthe President. (2) PembagiantugasdiantaraanggotaDewan Komisionersebagaimanadimaksuddalam Pasal 10 ayat (4) huruf b sampai dengan huruf (2) Distribution of duties amongst the members of theBoardofCommissionersasintendedby Article10section(4)point(b)throughpoint 21 gdiputuskanberdasarkanrapatDewan Komisioner dan ditetapkan dengan Keputusan Dewan Komisioner. (g) shall be determined upon the meeting of the BoardofCommissionersandstatedby Decision of the Board of Commissioners. (3) AnggotaDewanKomisionersebagaimana dimaksuddalamPasal10ayat(4)hurufa sampaidenganhurufgdiangkatuntukmasa jabatan5(lima)tahundandapatdiangkat kembali untuk 1 (satu) kali masa jabatan. (3) The members of the Board of Commissioners as intended by Article 10 section (4) point (a) through point (g) shall be appointed for a five (5)-year term of office and may be reappointed 1 (one) time for the term of office. Penjelasan Pasal 14: Cukup jelasElucidation of Article 14: Sufficiently clear Pasal 15Article 15 SyaratcalonAnggotaDewanKomisioner sebagaimanadimaksuddalamPasal10ayat(4) hurufasampaidenganhurufgadalahsebagai berikut: Thequalificationsforacandidatememberofthe Board of Commissioners as intended by Article 10 section (4) point (a) through point (g) shall be as follows: a.warga negara Indonesia;a.an Indonesian national; Penjelasan Pasal 15 (a): Cukup jelasElucidation of Article 15 (a): Sufficiently clear b.memilikiakhlak,moral,danintegritasyang baik; b.has good character, moral and integrity; Penjelasan Pasal 15 (b): Yangdimaksuddenganmemilikiakhlak,moral,dan integritas yang baik, antara lain tidak pernah masuk dalam daftar orang tercela. Elucidation of Article 15 (b): Havegoodcharacter,moralandintegritymeans, inter alia, he/she is not blacklisted. c.cakap melakukan perbuatan hukum;c.has full legal capacity; Penjelasan Pasal 15 (c): Cukup jelasElucidation of Article 15 (c): Sufficiently clear d.tidakpernahdinyatakanpailitatautidak pernahmenjadipengurusperusahaanyang menyebabkan perusahaan tersebut pailit; d.has never been declared bankrupt or never been themanagementofthecompanycausingthe company to be declared bankrupt; Penjelasan Pasal 15 (d): Cukup jelasElucidation of Article 15 (d): Sufficiently clear e.sehat jasmani;e.is physically sound; Penjelasan Pasal 15 (e): AnggotaDewanKomisionertidakterkendalaoleh kondisijasmaniyangsecarapermanenmenyebabkan yang bersangkutan tidak dapat menjalankan tugasnya dengan baik. Elucidation of Article 15 (e): NomemberoftheBoardofCommissionersshallbe impairedbyphysicalconditionthatpermanently renderstherelevantmemberunabletoperformhis/her duties properly. f.berusiapalingtinggi65(enampuluhlima) tahun pada saat ditetapkan; f.isnotovertheageofsixty-five(65)yearsat the time of confirmation; Penjelasan Pasal 15 (f): Cukup jelasElucidation of Article 15 (f): Sufficiently clear g.mempunyaipengalamanataukeahliandi sector jasa keuangan; dan g.hasexperienceorexpertiseinthefinance services sector; and Penjelasan Pasal 15 (g): Yang dimaksud dengan mempunyai pengalaman atau keahliandisektorjasakeuanganadalahseseorang yangmemilikipengalaman,keilmuan,ataukeahlian yang memadai di sektor jasa keuangan. Elucidation of Article 15 (g): Haveexperienceorexpertiseinthefieldoffinance servicesmeanstheindividualhasappropriate experience,scholarship,orexpertiseinthefinancial services sector. h.tidakpernahdijatuhipidanapenjara berdasarkanputusanpengadilanyangtelah mempunyaikekuatanhukumtetapkarena h.hasneverbeenconvictedandsentencedto imprisonmentbyafinalandbindingcourt decisionforthecommissionofacriminal 22 melakukantindakpidanayangdiancam dengan hukuman 5 (lima) tahun atau lebih. offenseliabletoimprisonmentforatermof five (5) years or more; Penjelasan Pasal 15 (h): Cukup jelasElucidation of Article 15 (h): Sufficiently clear Pasal 16Article 16 (1) Ketua,WakilKetua,dananggotaDewan Komisionersebelummemangkujabatannya wajibmengucapkansumpahataujanji menurutagamaataukepercayaannyadi hadapan Mahkamah Agung. (1) TheChairman,ViceChairman,andmembers oftheBoardofCommissionersmustpriorto assumingtheirofficeswearanoathor affirmation in accordance with their religion or belief before the Supreme Court. (2) Bunyilafalsumpahataujanjisebagaimana dimaksudpadaayat(1)adalahsebagai berikut: (2) An oath or affirmation as intended by section (1) shall read as follows: Saya bersumpah/berjanji bahwa saya, untuk menjadiKetua/WakilKetua/anggotaDewan KomisionerOJKlangsungatautidak langsungdengannamadandalihapapun tidakmemberikanataumenjanjikanuntuk memberikan sesuatu kepada siapapun. I do solemnly swear/affirm that in order to be aChairman/ViceChairman/memberofthe BoardofCommissionersoftheFinancial ServicesAuthorityIdirectlyorindirectly,in whatevernameandforwhateverreasons,will not give or promise to give anything to anyone whomsoever. Saya bersumpah/berjanji bahwa saya, dalam melakukanatautidakmelakukansesuatu dalamjabatanini,tidakakanmenerima langsungatautidaklangsungdarisiapapun sesuatujanjiataupemberiandalambentuk apapun. I do solemnly swear/affirm that in order to do orrefrainfromdoinganythingwhatsoeverin thisoffice,Iwillnotacceptdirectlyor indirectlyanypromisesorpresentsfrom anyone whomsoever. Sayabersumpah/berjanjibahwasayaakan melaksanakantugasdankewajibansebagai Ketua/WakilKetua/anggotaDewan KomisionerOJKKeuangandengansebaik-baiknyadandenganpenuhrasatanggung jawabberdasarkanperaturanperundang-undanganyangberkenaandengantugasdan kewajiban tersebut. I do solemnly swear/affirm that I will perform dutiesandobligationsasChairman/Vice Chairman/memberoftheBoardof CommissionersoftheFinancialServices Authorityproperlyandwithfullresponsibility underthelawsandregulationsconcerningthe duties and obligations. Sayabersumpah/berjanjibahwasayaakan setiakepadaNegaraKesatuanRepublik IndonesiadanUndang-UndangDasar Negara Republik Indonesia tahun 1945. Idosolemnlyswear/affirmthatIwillbear allegiancetotheUnitaryStateoftheRepublic ofIndonesiaandthe1945Constitutionofthe Republic of Indonesia. Penjelasan Pasal 16: Cukup jelasElucidation of Article 16: Sufficiently clear Pasal 17Article 17 (1) AnggotaDewanKomisionertidakdapat diberhentikansebelummasajabatannya berakhir,kecualiapabilamemenuhialasan sebagai berikut: (1) NomemberoftheBoardofCommissioners shallbedismissedpriortotheexpirationof his/hertermofoffice,unlessthefollowing reasons are given: a.meninggal dunia;a.he/she dies; Penjelasan Pasal 17 (1) (a): Cukup jelasElucidation of Article 17 (1) (a): Sufficiently clear b.mengundurkan diri;b.he/she resigns; 23 Penjelasan Pasal 17 (1) (b): Pengunduran diri anggota Dewan Komisioner berlaku efektifsejaktanggalpengundurandiritersebut disetujui oleh Presiden. Elucidation of Article 17 (1) (b): ResignationofamemberoftheBoardof Commissionersshalltakeeffectfromthedatethe resignation is approved by the President. c.masa jabatannya telah berakhir dan tidak diangkat kembali; c.his/hertermofofficehasexpiredand he/she is not reappointed; Penjelasan Pasal 17 (1) (c): Cukup jelasElucidation of Article 17 (1) (c): Sufficiently clear d.berhalangantetapsehinggatidakdapat melaksanakantugasataudiperkirakan secaramedistidakdapatmelaksanakan tugas lebih dari 6 (enam) bulan berturut-turut; d.he/sheispermanentlyincapacitatedfrom performing duties or in accordance with the medicalassumptionisunabletoperform dutiesformorethansix(6)consecutive months; Penjelasan Pasal 17 (1) (d): Yangdimaksuddenganberhalangantetapadalah cacatfisikdan/ataucacatmentalyangtidak memungkinkanyangbersangkutanmelaksanakan tugasnyadenganbaik.Pemberhentiananggota DewanKomisionerkarenacacatfisikdan/ataucacat mental ditetapkan dengan Keputusan Presiden. Elucidation of Article 17 (1) (d): Permanentlyincapacitatedmeansphysical disabilitiesand/ormentaldisabilitiesthatpreclude him/her from proper performance of his/her duties.The dismissalofmembersoftheBoardofCommissioners duetophysicaldisabilitiesand/ormentaldisabilities shall be stated by Decision of the President. Yangdimaksuddengandiperkirakansecaramedis adalahperkiraansecaramedisyangdibuktikan denganketerangantertulisdaridokteryang menerangkanbahwaanggotaDewanKomisioner yangbersangkutantidakdapatmelaksanakantugas lebih dari 6 (enam) bulan berturut-turut. Medicalassumptionmeansamedicalassumption thatis documentedbydoctorswrittenstatementtothe effectthattherelevantmemberoftheBoardof Commissionersisunabletoperformdutiesformore than six (6) consecutive months. e.tidakmenjalankantugasnyasebagai anggotaDewanKomisionerlebihdari3 (tiga)bulanberturut-turuttanpaalasan yang dapat dipertanggungjawabkan; e.he/shefailstoperformhis/herdutiesas member of the Board of Commissioners for morethanthree(3)consecutivemonths without good cause; Penjelasan Pasal 17 (1) (e): Yangdimaksuddengantanpaalasanyangdapat dipertanggungjawabkan adalah tidak adanya alasan yangkuatyangmenyebabkananggotaDewan Komisioner diberhentikan. Alasanyangdapatdipertanggungjawabkan,antara lain,sakityangdibuktikandengansuratketerangan dokteryangditunjukDewanKomisioner,penugasan diluarkegiatanOJKolehPresiden,ataukegiatan lain demi kepentingan negara. Elucidation of Article 17 (1) (e): Withoutgoodcausemeansnoferventreason renderingthememberoftheBoardofCommissioners to be dismissed. Goodcauseshallinclude,interalia,illnessas documentedbyawrittenstatementofthedoctor designated by the Board of Commissioners, assignment bythePresidentotherthanactivitiesoftheFinancial Services Authority, or other activities within the interest of the State. f.tidaklagimenjadianggotaDewan GubernurBankIndonesiabagianggota Ex-officioDewanKomisioneryang berasal dari Bank Indonesia sebagaimana dimaksud dalam Pasal 10 ayat (4) huruf h; f.he/sheisnolongerthememberofthe Board of Governors of Bank Indonesia, for anEx-officiomemberoftheBoardof CommissionersfromBankIndonesiaas intended by Article 10 section (4) point (h); Penjelasan Pasal 17 (1) (f): Cukup jelasElucidation of Article 17 (1) (f): Sufficiently clear g.tidak lagi menjadi pejabat setingkat eselon 1padaKementerianKeuanganbagi anggotaEx-officioDewanKomisioner yang berasal dari Kementerian Keuangan sebagaimanadimaksuddalamPasal10 ayat (4) huruf i; g.he/sheisnolongertheofficialof comparableranktotheechelonIofthe MinistryofFinance,foranEx-officio memberoftheBoardofCommissioners from the Ministry of Finance as intended by Article 10 section (4) point (i); 24 Penjelasan Pasal 17 (1) (g): Cukup jelasElucidation of Article 17 (1) (g): Sufficiently clear h.memilikihubungankeluargasampai derajatkeduadan/atausemendadengan anggota Dewan Komisioner lain dan tidak ada satupun yang mengundurkan diri dari jabatannya; h.he/sheisnotrelatedbyconsanguinity and/or affinity of the second degree to any othermemberoftheBoardof Commissionersandnonehasresigned his/her commissionership; Penjelasan Pasal 17 (1) (h): Yangdimaksuddengansemendaadalahpertalian kekeluargaankarenaperkawinan,yaitupertalian antarasalahseorangdarisuamiisteridankeluarga sedarah dari pihak lain. Elucidation of Article 17 (1) (h): Affinitymeansfamilyrelationshipbymarriage,i.e. theconnectionexistingbetweenonespouseandthe blood relatives of the other spouse. i.melanggar kode etik; ataui.he/she violates the code of ethics; or Penjelasan Pasal 17 (1) (i): Pelanggarankodeetikdalamketentuaniniadalah pelanggaranyangdikategorikanpelanggaranberat dandilaporkanolehDewanKomisionerkepada Dewan Perwakilan Rakyat. Elucidation of Article 17 (1) (i): A violation of the code of ethics in this provision means aviolationthatisclassifiedasagrossviolationand reportedbytheBoardofCommissionerstotheHouse of Representatives. j.tidaklagimemenuhisalahsatusyarat sebagaimanadimaksuddalamPasal15 danmelanggarlarangansebagaimana dimaksud dalam Pasal 22. j.he/shenolongermeetsanyofthe qualifications as intended by Article 15 and has violated the prohibitions as intended by Article 22. Penjelasan Pasal 17 (1) (j): Cukup jelasElucidation of Article 17 (1) (j): Sufficiently clear (2) Pemberhentiansebagaimanadimaksudpada ayat(1)diusulkanolehDewanKomisioner kepadaPresidenuntukmendapatkan penetapan. (2) The dismissal as intended by section (1) shall beproposedtothePresidentbytheBoardof Commissioners for confirmation. Penjelasan Pasal 17 (2): Cukup jelasElucidation of Article 17 (2): Sufficiently clear Bagian Ketiga Penggantian Antarwaktu Pasal l8 Part Three Recall Article l8 (1) DalamhalanggotaDewanKomisioner sebagaimanadimaksuddalamPasal10ayat (4)hurufasampaidenganhurufg, diberhentikankarenaalasansebagaimana dimaksuddalamPasal17ayat(1)hurufa, hurufb,hurufd,hurufe,huruff,hurufg hurufh,hurufi,dan/atauhurufj, dilaksanakanpenggantiananggotaDewan Komisionerantarwaktusesuaidengantata carapemilihananggotaDewanKomisioner sebagaimanadiaturdalamUndang-Undang ini. (1) WhereamemberoftheBoardof CommissionersasintendedbyArticle10 section(4)point(a)throughpoint(g),is dismissed due to reasons as intended by Article 17section(1)point(a),point(b),point(d), point (e), point (f), point (g) point (h), point (i), and/orpoint(j),thememberoftheBoardof Commissioners shall be recalled in accordance with the procedures for election of members of theBoardofCommissionersasgovernedby this Law. Penjelasan Pasal 18 (1): Cukup jelasElucidation of Article 18 (1): Sufficiently clear (2) AnggotaDewanKomisionerpengganti diangkat untuk menggantikan jabatan anggota DewanKomisioneryangdiberhentikan sebagaimanadimaksudpadaayat(1)dan melanjutkan sisa masa jabatan anggota Dewan Komisioner yang digantikan.(2) ThereplacementmemberoftheBoardof Commissionersshallbeappointedinplaceof thedismissedmemberoftheBoardof Commissioners as intended by section (1) and shall continue the remaining term of the office ofthereplacedmemberoftheBoardof 25 Commissioners. Penjelasan Pasal 18 (2): Cukup jelasElucidation of Article 18 (2): Sufficiently clear (3) PenggantiananggotaDewanKomisioner sebagaimanadimaksudpadaayat(1)tidak dilakukanapabilasisamasajabatananggota DewanKomisioneryangdiberhentikan kurang dari 1 (satu) tahun. (3) NorecallofamemberoftheBoardof Commissioners as intended by section (1) shall be made if the remaining term of office of the dismissedmemberoftheBoardof Commissioners is less than one (1) year. Penjelasan Pasal 18 (3): Yangdimaksuddengansisamasajabatananggota DewanKomisioneryangdiberhentikankurangdari1 (satu)tahunadalahsisamasajabatanterhitung sejaktanggalpenetapanpemberhentiananggota Dewan Komisioner. Elucidation of Article 18 (3): The remaining term of office of the recalled member of theBoardofCommissionersislessthanone(1)year meanstheremainingtermofofficethatcommences from the date the dismissal of the member of the Board of Commissioners is stated. Pasal 19Article 19 (1) DalamhalKetuaDewanKomisioner diberhentikankarenaalasansebagaimana dimaksuddalamPasal17ayat(1),Wakil KetuaDewanKomisionerbertindaksebagai pejabatsementarauntukmelaksanakantugas danwewenangKetuaDewanKomisioner sampaidenganditetapkannyaKetuaDewan Komisioner yang baru.(1) WheretheChairmanoftheBoardof Commissioners is dismissed due to reasons as intendedbyArticle17section(1),theVice Chairman of the Board of Commissioners shall act as official ad interim to perform the duties and exercise the powers of the Chairman of the Board of Commissioners until a new Chairman of the Board of Commissioners is confirmed. Penjelasan Pasal 19 (1): WakilKetuayangbertindaksebagaipejabat sementaraKetuaDewanKomisionermemiliki kewenangansebagaiKetuadanWakilKetuaDewan Komisioner, tetapi hanya memiliki 1 (satu) hak suara. Elucidation of Article 19 (1): TheViceChairmanactingasofficialadinterimin placeoftheChairmanoftheBoardofCommissioners shallhavethepowersastheChairmanandtheVice ChairmanoftheBoardofCommissioners,buthaving only one (1) voting right. (2) DalamhalWakilKetuaDewanKomisioner diberhentikankarenaalasansebagaimana dimaksuddalamPasal17ayat(1),Ketua Dewan Komisioner bertindak sebagai pejabat sementarauntukmelaksanakantugasdan wewenangWakilKetuaDewanKomisioner sampaidenganditetapkannyaWakilKetua Dewan Komisioner yang baru. (2) WheretheViceChairmanoftheBoardof Commissioners is dismissed due to reasons as intendedbyArticle17section(1),the Chairman of the Board of Commissioners shall act as official ad interim to perform the duties and powers of the Vice Chairman of the Board of Commissioners until a new Vice Chairman of the Board of Commissioners is confirmed. Penjelasan Pasal 19 (2): Ketuayangbertindaksebagaipejabatsementara Wakil Ketua Dewan Komisioner memiliki kewenangan sebagaiKetuadanWakilKetuaDewanKomisioner, tetapi hanya memiliki 1 (satu) hak suara. Elucidation of Article 19 (2): TheChairmanactingasofficialadinteriminplaceof the Vice Chairman of the Board of Commissioners shall havethepowersastheChairmanandtheVice ChairmanoftheBoardofCommissioners,buthaving only one (1) voting right. (3) DalamhalKetuadanWakilKetuaDewan Komisionerdiberhentikankarenaalasan sebagaimanadimaksuddalamPasal17ayat (1),berdasarkankesepakatanDewan Komisioner,salahsatuanggotaDewan Komisionersebagaimanadimaksuddalam Pasal 10 ayat (4) huruf c sampai dengan huruf gbertindaksebagaipejabatsementarauntuk melaksanakantugasdanwewenangKetua (3) Where the Chairman and the Vice Chairman of the Board of Commissioners are dismissed due to reasons as intended by Article 17 section (1), upontheagreementoftheBoardof Commissioners,anyofthemembersofthe Board of Commissioners as intended by Article 10 section (4) point (c) through point (g) shall act as official ad interim to perform the duties andpowersoftheChairmanand/ortheVice 26 dan/atauWakilKetu