Charges by the Financial Services Authority (OJK)

As a newly established authority pursuant to Law No. 21 of 2011 on the OJK ("OJK Law"), the OJK requires proper financing to support its operations so that it can carry on its duties and functions independently and professionally, and in accordance with good corporate governance principles. One of the OJK's financing sources is from charges obtained from financial services institutions and/or individuals or entities engaging in financial services. On 12 February 2014, the OJK issued Government Regulation No. 11 of 2014 on Charges by the OJK, which is an implementing regulation of Article 37(6) of the OJK Law. Under this new regulation, financial services institutions and/or individuals or entities engaging in financial services (such as banking, capital markets, insurance and pension funds) must pay mandatory charges to the OJK. The types of charges under this regulation ("OJK Charges") include the following (amounts are provided in the regulation's attachment):