In accordance to the Regulation of the Financial Services Authority (OJK) and the General Meeting of Shareholders on 25 May 2016, and in order to improve the functions and roles of the Board of Commissioners, it is necessary to agree on the division of duties and authorities of the members of the Board of Commissioners while still prioritizing the principles of cooperation, task unity and function as stated in the Decree of the Board of Commissioners No. 3 / VE / DEKOM / I / 2017 concerning the Division of Duties and Authorities of Members of the Board of Commissioners.
Board of Commissioners Duties and Responsibilities
- Duties and Authorities of the Board of Commissioners as stipulated in the Articles of Association of the Company and their amendments.
- To provide ratification on the direction of policies, business strategies of the Company’s Business Plan, both short-term plans (annual work programs), mid-term and long-term, which must be reported to the Financial Services Authority (OJK).
- Supervise the implementation and achievement of the Business Plan.
- Providing written decisions/approvals for proposed transactions that exceed the Board of Directors’ authority.
- Organizing internal meetings of the Board of Commissioners, at least 6 (six) times a year, in accordance with the provisions of Good Corporate Governance.
- Attending joint meetings with the Board of Directors in the framework of guidance and supervision, which include meetings of the Company’s Performance Reports, Annual Work Meetings, Board of Commissioners Meetings, Directors and Subsidiaries Directors’ Meetings, Field Meetings between Directors and Division Heads and Executive Committee Meetings.