Legal Updates

Lontong 01/03/2022 0

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Legal Update

This regulation introduced several significant adjustments to the sector with regards to subjects such as native shareholding requirements. Indonesian Regulatory Framework for Real Estate Investment Funds In late 2015, the Indonesian Minister of Finance issued a regulation to encourage the growth of real property investment funding within the type of Collective Investment Contracts. The Development of Personal Data Protection in Indonesia After months of drafting and deliberation, Indonesia’s Ministry of Communication and Informatics (“MOCI”) in late 2016 issued a long-awaited regulation on the safety of non-public knowledge. Approvals Required for Changes in Shareholding and Board Members of Power and Geothermal Companies These contractual necessities imposed on IPPs by PLN related to retention of possession of shares in IPP firms. Aside from contractual restrictions associated with adjustments in shareholding, neither the PPAs nor the facility sector laws imposed another restrictions on company actions of IPP firms. Indonesia’s New Data Protection Rules Move Toward Passage After numerous information breaches underlined the urgency of comprehensive knowledge safety guidelines, Indonesia expects to pass a knowledge protection regulation in 2020, despite the continuing COVID-19 pandemic and related lockdowns.

Cooperation Between Rivals And Covid

The newly-issued Third Amendment introduces a provision that allows Regional-Owned Enterprises the identical treatment as State-Owned Enterprises. New Law Introduces Trademark Filing Procedure and Renewal Grace Period The new Trademark and Geographical Indication Law has recently been launched as Law No. 20 of 2016. BKPM Supports Indonesian Tax Amnesty Programs by Issuing a Facilitating Regulation On twenty eighth October 2016, the Head of the Capital Investment Coordinating Board issued Regulation No. eight of 2016 (“Regulation eight”), which instantly went into impact. Regulation 8 was issued to assist the tax amnesty programmes initiated by the Indonesian authorities. New Online Registration System Transforms Franchise Application Process The Ministry of Trade (“MOT”) has introduced a model new platform for the registration of a quantity of licenses including the franchise registration certificates. Indonesia Extends Cabotage Exemption The Indonesian Shipping Law and its implementing rules include Indonesia’s cabotage rules, requiring that home sea transportation be carried out by an Indonesian delivery firm using an Indonesian-flagged vessel and an Indonesian crew.

  • Food Export Regulations and Licenses in Indonesia Food export actions in Indonesia could be carried out by people, institutions and enterprise entities.
  • The new legislation will present protection to broader forms of trademark, in addition to make it more time and cost-efficient for trademark house owners to obtain registration licences in Indonesia.
  • Bank Indonesia Sets New Limits for the Provision of E-Money Bank Indonesia issued a regulation on e-money that stipulates a quantity of requirements and prohibitions that had been beforehand unregulated.
  • The Insurance Law mandates that the native shareholders in an insurance coverage company should be ultimately owned by Indonesian individuals.
  • Mandatory Disclosure of Beneficial Owners in Indonesia Following the enactment of Presidential Regulation No. thirteen of 2018, legal entities in Indonesia are now required to declare the id of useful homeowners and supply data on their useful possession.

Proposal to Revoke Five Business Permits in Indonesia On 16th March 2016, Indonesian President Joko Widodo announced a plan to simplify enterprise licensing in Indonesia by revoking 5 current enterprise permits issued at the regional level. Regulatory Developments within the Indonesian Banking Industry The Financial Services Authority has had regulatory authority over Indonesian banks, besides Bank Indonesia (“BI”), since 31st December 2013, as stipulated under Law No. 21 of 2011 concerning the Financial Services Authority. Indonesia’s international investment policy has been in the spotlight for the rationale that Government of Indonesia conveyed in 2014 its intention to terminate all of its current bilateral investment treaties. BPOM Simplifies Drug Registration Process On 4th August 2016, the Food and Drug Supervisory Agency enacted a new regulation which adjustments the registration process of medicine. The changes are reflected in Head of BPOM Regulation No. 17 of 2016 on the Second Amendment of Head of BPOM Regulation No. 3 of 2011. New Regulation Allows Appointment of ROEs for Construction Projects The Indonesian authorities recently issued Government Regulation No. fifty four of 2016 concerning the Third Amendment to Government Regulation No. 29 of 2000.

This sensible document only covers areas of the legislation that are part of BWI’s scope of labour assessment or are extra relevant for the garment and footwear business. It attracts closely from the consultation process between BWI and the Ministry of Manpower on the which means and applicability of the new rules as properly as a sequence of public dissemination classes done by the Ministry. Indonesian Franchising Rules and Regulations With a population of 250 million, Indonesia is a gorgeous nation for buyers involved within the distribution, retail and franchise sectors. Given this context, this legal update supplies an overview of the most recent adjustments to franchising regulations issued by the Ministry of Trade.

Power Businesses Supply Financial Aid As Wholesale Electrical Energy And Gasoline Costs Fall

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Once the article is received, it is forwarded to our two reviewers after eradicating names of authors and their affiliations. Reviewers send their comments in due course of time and these comments/ queries are forwarded to authors to make corrections or supply explanations. Once the reviewers are satisfied with corrections in manuscripts or explanations given by authors, authors are conveyed the decision of acceptance of article. If author/s refuses to make corrections as instructed by reviewers, manuscript is rejected for publication. Circular 24 solely permits international registrars to offer “.vn” area name registration service exterior Vietnam, whereas in previous laws they have been allowed to supply this service each in and out of doors Vietnam. You are encouraged to look via our online legal updates and publications by using the search operate beneath.

Indonesian Language Law from the Perspective of the Courts In 2013, the West Jakarta District Court issued a groundbreaking determination that captured the attention of the enterprise neighborhood in stipulating that the Indonesian language should be utilized in industrial agreements with Indonesian companies and businesses. An Eye on PPP in Indonesia With the intention to enhance the event of PPP tasks in Indonesia and to make PPP arrangements extra appealing to buyers, the Government just lately issued Presidential Regulation No. 38 of 2015 regarding Cooperation between the Government and Enterprises in Infrastructure Procurement. Regulation Curbs Power of Local Authorities in Indonesian Mining Sector The Indonesian authorities appears to be getting critical about stripping regents of the authority to problem mining licenses. The government took the first steps on this direction with Minister of Energy and Mineral Resources Regulation No. 27 of 2013. Indonesia, ASEAN and Investment – A Q&A With elevated curiosity in Indonesia and the approaching completion of the ASEAN Economic Community, international traders are on the lookout for a means to do business in Indonesia.