Mandatory Use of Rupiah in Indonesia Indonesia’s central financial institution, Bank Indonesia, lately issued BI Regulation No. 17/3/PBI/2015 regarding the Mandatory Use of the Rupiah within the Republic of Indonesia, which restricts the use of overseas currency in domestic transactions performed within Indonesian territory. New Regulation Prohibits Manufacturers from Importing Industrial/Finished Goods As part of the federal government’s financial deregulation package deal issued on ninth September 2015, the Ministry of Trade has issued one other new regulation on imports. This new regulation removes the provision which allowed holders of Producer Importer Identification Numbers to import certain industrial/finished items.
- Caisa Aamuliadiga, or pleasant often known as Diga, earned his Bachelor of Law from Universitas Andalas in 2016 and Master of Law from Universitas Indonesia in 2021.
- While we support the safety of privateness on the Internet, SCLS expressly disclaims any and all liability for the actions of third parties, including with out limitation actions referring to the use and/or disclosure of data by third events.
- Indonesia’s FinTech Office and New FinTech Regulation Bank Indonesia lately launched a FinTech Office on 14th November 2016.
- Prior to joining INTEGRITY Law Firm, Diga worked as an investigator at the Deputy for Law Enforcement, Commission on Business Competition Supervisory .
- This legal update supplies an summary of legal guidelines on public mergers and acquisitions in Indonesia, masking the first means of acquiring control of a public company.
- Is an experienced banker who beforehand labored as a Corporate Account Manager in a national banking establishment.
Protection of Privacy in Indonesia Article 28 is taken into account the basis for extra specific information privateness laws. However, there isn’t a particular regulation in Indonesia that regulates respect for personal and household life. As of the time of this writing, the most relevant laws for the protection of privacy are related to private knowledge safety. [newline]Our specialist employment lawyers talk about the most recent legal developments and employment points.
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Indonesian Omnibus Bill – Changes to Labor-Related Sectors The Indonesian House of Representatives recently handed the Omnibus Bill on Job Creation (the “Omnibus Bill”). Indonesian Omnibus Bill – Changes to the Halal Products Law The Indonesian House of Representatives lately handed the Omnibus Bill on Job Creation (the “Omnibus Bill”). The said purpose of the Omnibus Bill is to bolster investment and create jobs by streamlining laws and simplifying the licensing course of to enhance the convenience of doing business in Indonesia. Indonesia’s Omnibus Law Puts Focus on Direct Use of Geothermal Resources The Indonesian Government enacted Law No. 11 of 2020 regarding Jobs Creation (the “Omnibus Law”) on November 2, 2020. Indonesia Omnibus Bill – Potential Changes to the Immigration Law The Indonesian House of Representatives lately handed the Omnibus Bill on Job Creation (the “Omnibus Bill”). Indonesia Omnibus Law – Changes to the Shipping Law Hint at Smoother Sailing for Business ) Indonesian President Joko Widodo just lately signed Law No. eleven of 2020 on Jobs Creation (the “Omnibus Law”).
New Regulation on Divestment Minister of Energy and Mineral Resources (“MEMR”) Regulation No. 9 of 2017 additional regulates the divestment course of for the downstream mining trade in particular to the value at which the government will choose up shares. The regulation replaces MEMR regulation No. 27 of 2013 to the extent of the divestment provisions. New OJK Rule on Public Accountants and Public Accountant Offices The issuance of this new rule has an influence on the engagement of external auditors by publicly-listed firms provided that public firms are one of many subjects being regulated and supervised by OJK. Indonesia Extends Cabotage Exemption The Indonesian Shipping Law and its implementing laws comprise Indonesia’s cabotage rules, requiring that home sea transportation be carried out by an Indonesian shipping company utilizing an Indonesian-flagged vessel and an Indonesian crew.
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In this episode Charles Pigott explains what has occurred to the Government’s key proposals for employment regulation reform announced in December 2019, and what different plans for legal adjustments are in the pipeline. This version of our Luxembourg Legal Update covers, amongst different topics, the CSSF Annual Activity Report for 2014 and the Prospectus Law, and a case law on the limitation of liability clause for banks. This version covers, amongst different topics, the newest developments referring to the result of the 23 June 2016 referendum within the UK.
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New Negative Investment List Introduces Changes to Health Investment in Indonesia The Indonesian Government has released the long-awaited New Negative Investment List, issued beneath Presidential Regulation No. 39 of 2014. Among the major modifications from earlier laws is an increase in maximum international ownership ranges in a number of key industries, including the well being sector. OJK Revokes Stimulus Package for Insurance Companies and Pension Funds On 31st August 2015, the Financial Services Authority issued a number of circular letters as a stimulus policy bundle to minimise the detrimental effects of unstable international monetary situations on the insurance coverage and pension fund business sector. Data Protection in Indonesia There are various laws that relate to data privacy in a variety of particular areas though there is no comprehensive information safety regulation in Indonesia. Indonesian legal scholars typically refer to Article 28 of the 1945 Constitution as the idea for extra particular knowledge privateness laws. Government to Approve Corporate Actions within the Indonesian Energy Sector The Indonesian Minister of Energy and Mineral Resources (“MEMR”) has issued MEMR Regulation No. forty two of 2017 which aims to improve the supervision of business entities in the energy and mineral resources sector partly by closing regulatory gaps.
This legal update supplies an outline of legal guidelines on public mergers and acquisitions in Indonesia, overlaying the primary technique of acquiring management of a public firm. In this version, you’ve distinctive entry to nice insights and skilled commentary on a variety of pertinent healthcare regulatory developments. You will discover a topical mix of articles; for instance, our attorneys talk about vaccines and returning to work in the course of the pandemic. They take you thru a quantity of different areas, including stem cell research in Bahrain, scientific analysis laws in Egypt, and Saudi medical device and pharmaceutical legal guidelines. Indonesian Financial Services Authority in Review This legal update seems at a variety of the regulatory adjustments which were launched for the rationale that Financial Services Authority took over supervision of the capital markets, non-bank financial institutions and banking sectors prior to 2014.
The authorities took the first steps on this path with Minister of Energy and Mineral Resources Regulation No. 27 of 2013. Indonesia, ASEAN and Investment – A Q&A With increased interest in Indonesia and the upcoming completion of the ASEAN Economic Community, foreign investors are looking for a way to do enterprise in Indonesia. SSEK discusses the revised Negative Investment List, the influence of the ASEAN Free Trade Area on Indonesia and Bilateral Investment Treaties.