Government to Issue Regulation to Re-order or Revoke IUPs - December 2015

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Finance & Projects www.bakermckenzie.com Possible Remedies For further information please contact The assessment by the governor may affect the respective IUPs, by way of, amongst others: Luke Devine Foreign Legal Consultant +62 21 2960 8600 luke.devine@bakernet.com Norman Bissett Foreign Legal Consultant +62 21 2960 8678 norman.bissett@bakernet.com Muhammad Karnova Partner +62 21 2960 8699 muhammad.karnova@bakernet.com Jeremia Purba Associate +62 21 2960 8592 jeremia.purba@bakernet.com Hadiputranto, Hadinoto & Partners* The Indonesia Stock Exchange Building, Tower II, 21st Floor Sudirman Central Business District Jl. Jendral Sudirman Kav. 52-53 Jakarta 12190 Indonesia www.hhp.co.id a. adjustment of the IUP (for example, by revising the coordinates as necessary); b.

relinquishment of area, if only part of an IUP is affected; and c. revocation of IUP. As this assessment should sort the compliant IUPs from the non-compliant ones, we expect that the results of this assessment will be used by the MEMR to determine the status of these IUPs. Takeaways While it may be too late for some IUP companies to ensure that their IUPs have been properly issued, they should ensure that their reporting, financial and environmental obligations have been satisfied, and that they have been issued with a Clear and Clean certificate. *** We will continue to monitor this matter and will provide a further, more detailed analysis once the regulation has been passed. Milan Radman Principal +65 6434 2641 milan.radman@bakermckenzie.com Baker & McKenzie.Wong & Leow* 8 Marina Boulevard #05-01 Marina Bay Financial Centre Tower 1 Singapore 018981 www.bakermckenzie.com/Singapore *Hadiputranto, Hadinoto & Partners and Baker & McKenzie.Wong & Leow are member firms of Baker & McKenzie International. ©2015 Baker & McKenzie. All rights reserved. Baker & McKenzie International is a Swiss Verein with member law firms around the world.

In accordance with the common terminology used in professional service organizations, reference to a “partner” means a person who is a partner, or equivalent, in such a law firm. Similarly, reference to an “office” means an office of any such law firm. This may qualify as “Attorney Advertising” requiring notice in some jurisdictions. Prior results do not guarantee a similar outcome. 2 Government to Issue Regulation to Re-order or Revoke IUPs December 2015 .