STRUCTURE AND MECHANISM OF CORPORATE GOVERNANCE

BOARD OF COMMISSIONERS MEETING

MEETING POLICY

Board of Commissioners decisions are made, among others, in the Board of Commissioners Meeting. Board of Commissioners meeting is regulated in the Articles of Association and the Board Manual.

1. Board of Commissioners meeting may be held at any time, if deemed necessary by one or more members of Board of Commissioners; and/or written request from Board of Directors;
2. Board of Commissioners meeting is an immediate and/or strategic meeting. These meetings may be held at the place of domicile or at the place of IPC’s business activities or elsewhere within the territory of the Republic of Indonesia;
3. Invitation to Board of Commissioners Meeting is made in writing by the President Commissioner (or a Member of Board of Commissioners appointed by President Commissioner) and delivered within a period of at least 3 (three) working days before the meeting is held, or in a shorter time if in urgent situation;
4. Board of Commissioners meetings are valid and have the right to make binding decisions if attended or represented by more than 1/2 (one half) of the total members of Board of Commissioners.The representation of Board of Commissioners members in a meeting can only be done by written proxy to other member of Board of Commissioners, which is given specifically for this purpose, and provided that 1 (one) member can only represent 1 (one) other member of Board of Commissioners;
5. Board of Commissioners meetings are chaired by the President Commissioner. In the event that the President Commissioner is absent or unable to attend, the meeting shall be chaired by another member of Board of Commissioners appointed by the President Commissioner;