REPORTING AND DISCLOSING INFORMATION

Article 85

Securities Exchanges, Clearing Guarantee Institutions, a Central Securities Depository, Investment Funds, Securities Companies, Investment Advisors, Securities Administration Agencies, Custodian banks, Trust-Agents and other Persons that are licensed by, approved by, or registered with BAPEPAM, must submit reports to BAPEPAM[192].

Article 86

1. An Issuer whose Registration Statement has become effective, or a Public Company, is required to[193]:

   a)	publish periodic reports and submit such reports to BAPEPAM[194]; and
   b)	make public Material Information regarding events that may affect the price of Securities, not later than two working days after the event, while reporting such information to BAPEPAM[195].

2. BAPEPAM may exempt Issuers and Public Companies from the reporting requirements[196] referred to in item (1).

Article 87

1. Directors and commissioners of Issuers and Public Companies must report to BAPEPAM, their ownership of the shares of such Companies and each change of such ownership[197].
2. Every Person owning five percent or more of the shares of an Issuer or Public Company must report such ownership to BAPEPAM, as well as each change in ownership.
3. Reports mentioned in items (1) and (2) must be submitted not later than ten days after the acquisition or sale of the shares[198].

Article 88

Further requirements and procedures with respect to the reports specified in Articles 85, 86, and 87 shall be determined by BAPEPAM[199].

Article 89

1. All information that must be submitted to BAPEPAM by virtue of this Law and its implementing regulations shall be available to the public[200].
2. Exceptions from the requirement of item (1) can only be made by BAPEPAM[201].