[{"_1":2,"_114":-5,"_115":-5},"loaderData",{"_3":4,"_27":28,"_29":30},"root",{"_5":6,"_7":-5,"_8":9},"locale","id","session","ENV",{"_10":11,"_12":13,"_14":15,"_16":17,"_18":17,"_19":20,"_21":22,"_23":24,"_25":26},"APP_ENV","development","APP_URL","https://eunomia.veritask.ai","GA_MEASUREMENT_ID","G-X1BV3QBZEM","META_PIXEL_ID","","TIKTOK_PIXEL_IDS","CLARITY_PROJECT_ID","wna53wookm","AMPLITUDE_API_KEY","7e63bba8e40e975f05a764d0760dae98","MIDTRANS_CLIENT_KEY","Mid-client-Utk0Sjf97WJDzPZp","MIDTRANS_SNAP_URL","https://app.sandbox.midtrans.com/snap/snap.js","routes/$locale",{"_5":6},"routes/$locale.search-engine.regulation.$regulationId",{"_31":32,"_33":34},"regulationId","fe8ba9b3-2eaf-4074-9485-1f37ff73a9ca","regulationData",{"_35":32,"_36":37,"_111":112,"_113":-5},"regulation_id","overview",{"_38":39,"_40":41,"_42":43,"_44":45,"_46":47,"_48":-5,"_49":50,"_51":52,"_57":58,"_59":60,"_64":65,"_69":70,"_71":72,"_73":74,"_75":76,"_77":-5,"_78":-5,"_79":80,"_81":-5,"_82":83,"_84":85,"_86":87,"_88":89,"_90":91,"_92":93,"_94":95,"_96":97,"_98":99,"_100":101,"_102":103,"_104":105,"_106":107,"_108":-5,"_109":110},"title","Peraturan Otoritas Jasa Keuangan Nomor 15/POJK.04/2022 Tahun 2022 tentang Pemecahan Saham dan Penggabungan Saham Oleh Perusahaan Terbuka","short_title","Peraturan Otoritas Jasa Keuangan Nomor 15/POJK.04/2022 Tahun 2022","number","15/POJK.04/2022","year","2022","published_date","2022-08-18","effective_date","status_id","3611a577-44a0-41ad-986d-7457e14f52ff","status",{"_6":50,"_53":54,"_55":56},"name","Berlaku","description","Peraturan yang masih berlaku dan memiliki kekuatan hukum yang mengikat","type_id","cff30cb4-0074-4ba3-ac5f-ce2275fd2a31","type",{"_6":58,"_53":61,"_62":63},"Peraturan Otoritas Jasa Keuangan","short_name","Peraturan OJK","subjects",[66],{"_6":67,"_53":68,"_55":-5},"54d08c24-6ebe-45ac-aceb-ef774a10c175","Badan Usaha & Perdagangan","tags",[],"location","Pemerintah Pusat","place_of_enactment","Jakarta","theme","Pemecahan Saham dan Penggabungan Saham Oleh Perusahaan Terbuka","subject_matter","abstract","regulatory_relationship","

Peraturan Pendahulu

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Ikhtisar Kebijakan

Latar Belakang dan Tujuan: Peraturan ini diterbitkan untuk memberikan kepastian hukum dan perlindungan kepada pemegang saham serta mendukung terciptanya pasar modal yang teratur, wajar, dan efisien. Peraturan mengisi kekosongan regulasi terkait pemecahan saham dan penggabungan saham oleh perusahaan terbuka serta menetapkan rangka persetujuan, keterbukaan informasi, dan mekanisme pelaksanaan untuk melindungi kepentingan pemodal dan masyarakat.

Ketentuan Substansial:

Ruang lingkup: mengatur pemecahan dan penggabungan saham yang wajib mencakup seluruh saham dalam klasifikasi saham yang sama oleh Perusahaan Terbuka (Pasal 2).
Persetujuan: pelaksanaan wajib memperoleh persetujuan RUPS dan, jika saham tercatat, persetujuan prinsip Bursa Efek sebelum pengumuman RUPS (Pasal 3–5).
Pertimbangan Bursa Efek: persetujuan prinsip memperhatikan likuiditas, harga, fundamental keuangan, rasio pemecahan/penggabungan, saham beredar publik, dan pengawasan perdagangan; Bursa Efek dapat meminta laporan penilaian dan/atau pertimbangan OJK (Pasal 6).
Penilaian: Perusahaan terbuka tidak tercatat wajib menyertakan laporan penilaian oleh Penilai; ketentuan ini juga dapat berlaku untuk emiten tercatat dalam kondisi tertentu (Pasal 9–11).
Larangan dan pembatasan waktu: pembatasan pelaksanaan dalam jangka waktu tertentu setelah IPO atau penambahan modal; pembatasan penambahan modal tanpa HMETD dalam 12 bulan setelah pemecahan/penggabungan, dengan pengecualian untuk lembaga jasa keuangan tertentu dan restrukturisasi (Pasal 12–14).
Saham tidak memenuhi satuan perdagangan: mekanisme pembelian oleh pihak penunjuk dan/atau penerbitan saham tambahan setelah penggabungan untuk memenuhi satuan perdagangan; tenggat waktu pelaksanaan dan tata cara (Pasal 15–18).
Keterbukaan informasi: kewajiban pengumuman saat pengumuman RUPS dan sebelum pelaksanaan, serta konten minimal pengungkapan termasuk rasio, jumlah saham, alasan, dampak terhadap efek ekuitas selain saham, dan tanggung jawab direksi (Pasal 19–21, 24).
Prosedur pelaksanaan: batas waktu pelaksanaan setelah RUPS, ketentuan khusus terkait penambahan modal, dan jadwal pelaksanaan pengumuman (Pasal 22–24).
Penyesuaian efek bersifat ekuitas selain saham: kewajiban menyesuaikan jumlah/ harga pelaksanaan/ jumlah saham hasil pelaksanaan sesuai rasio pemecahan/penggabungan (Pasal 36–37).

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Ketentuan Peralihan

Peraturan Otoritas Jasa Keuangan ini mulai berlaku setelah 6 (enam) bulan terhitung sejak tanggal diundangkan (Pasal 41).
Bursa Efek wajib menerbitkan ketentuan terkait permohonan persetujuan Bursa Efek atas pemecahan dan penggabungan saham bagi Perusahaan Terbuka yang sahamnya tercatat paling lama 3 (tiga) bulan sejak Peraturan Otoritas Jasa Keuangan ini mulai berlaku (Pasal 8).

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Ringkasan Sanksi

Pelanggaran terhadap ketentuan tertentu (tercantum pasal-pasal spesifik dalam Bab VII) dikenai sanksi administratif oleh Otoritas Jasa Keuangan (Pasal 38 ayat (1)–(4)).
Jenis sanksi administratif meliputi peringatan tertulis, denda, pembatasan atau pembekuan kegiatan usaha, pencabutan izin, pembatalan persetujuan, dan/atau pembatalan pendaftaran; denda dapat dikenakan sendiri atau bersama sanksi lain (Pasal 38 ayat (4)–(6)).
Otoritas Jasa Keuangan dapat melakukan tindakan tertentu tambahan (mis. penundaan RUPS) dan mengumumkan pengenaan sanksi kepada masyarakat (Pasal 39–40).

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\n STATE GAZETTE OF THE REPUBLIC OF INDONESIA No. 17/OJK, 2022 \n \n REGULATION OF THE FINANCIAL SERVICES AUTHORITY OF THE REPUBLIC OF INDONESIA \n NUMBER 15/POJK.04/2022 \n CONCERNING \n STOCK SPLIT AND STOCK CONSOLIDATION BY A PUBLIC COMPANY\n
	\n BY THE GRACE OF GOD ALMIGHTY\n
	\n BOARD OF COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY,\n
Considering:	\n \n that to realize the creation of a capital market activity that is orderly, fair, and efficient and to protect the interests of investors and the public, regulation of all activities in the capital market sector is required; \n that there is not yet a specific regulation regarding stock split and stock consolidation by a public company; \n that to provide legal certainty and protection to shareholders and the public, regulation regarding stock split and stock consolidation by a public company is necessary; \n that based on the considerations as referred to in letters a, b, and c, it is necessary to stipulate a Regulation of the Financial Services

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