Coal Prices for Domestic Power Producers in Indonesia With worldwide coal costs rising, the federal government has by enacted MEMR Decree No. 1395 K/30/MEM/2018 to control the supply of coal for home power producers. Bank Indonesia Sets New Limits for the Provision of E-Money Bank Indonesia issued a regulation on e-money that stipulates numerous necessities and prohibitions that have been previously unregulated. IDX Issues New Listing Rule The Indonesia Stock Exchange has issued a brand new itemizing rule for shares and equity-type securities. The new rule supplies new necessities for itemizing on the IDX and clarifies a number of gadgets that aren’t clearly regulated beneath the old rule. Indonesian Bankruptcy and PKPU Proceedings in a Time of COVID-19 The COVID-19 pandemic has triggered extra financial hurt to Indonesia than the subprime mortgage crisis in 2008. As part of efforts to verify the spread of the virus, the Indonesian government has carried out a policy of Large-Scale Social Restrictions (Pembatasan Sosial Berskala Besar or “PSBB”), requiring most businesses to cease or at least pare down actions.
There is no particular Government of Indonesia legislation or regulation that offers with e-commerce actions in any depth or detail. In Indonesia, New Licensing Rules for Imports and Exports The Government of Indonesia has lately issued a package of financial policies designed to remove irrelevant requirements and to decontrol and spur the growth of the Indonesian economy. Indonesia Introduces New Solar Power Regime In 2013, the Indonesian authorities first introduced a solar power regulatory regime which required the government to publish solar energy quota allocations for various components of Indonesia.
Launching of Electronic-Based Intellectual Property Services in Indonesia The Ministry of Law and Human Rights formally launched electronic- based mostly intellectual property companies on 29th December 2016. The electronic submitting system allows IP consultants to file applications at any time online with out being constrained by the restricted opening hours of the Intellectual Property Office. The OJK Issues New Circular Letter on Micro-insurance Products Circular Letter 9, while not in the type of an OJK regulation, now prescribes a detailed method and approach to the distribution and sale of micro-insurance merchandise.
Asic Provides Aid From Sure Regulatory Requirements In Gentle Of Covid
Guide to Benefits in Indonesia In 2011, the Indonesian authorities reformed its National Social Security System and handed Law No. 24 on the Social Security Organising Body to assist meet the basic needs of the country’s population. Companies in Indonesia are required to register workers within the Indonesian government’s employment social security programmes. New Regulation on Trademark Registration and Criteria on Well-Known Trademark Regulation 67 turned effective on 30th January 2017 and offers extra detailed provisions on trademark registration procedures standards to determine the similarity of goods/services in addition to standards on well-known emblems.
Indonesia Omnibus Law – Changes to the Company Law Indonesia’s intently watched omnibus jobs creation bill recently turned regulation. The stated goal of the Omnibus Law is to bolster investment and create jobs by streamlining rules and simplifying the licensing process to improve the ease of doing business in Indonesia. Indonesian Omnibus Bill – Changes to Labor-Related Sectors The Indonesian House of Representatives lately passed the Omnibus Bill on Job Creation (the “Omnibus Bill”).
Protection of Privacy in Indonesia Article 28 is considered the idea for more particular information privacy laws. However, there is not any specific regulation in Indonesia that regulates respect for personal and household life. As of the time of this writing, the most related laws for the protection of privacy are associated to private data safety. Foreign Investment in Indonesian Real Estate Indonesia’s Agrarian Law supplies that foreigners can solely acquire a proper to make use of title for land in the event that they reside in Indonesia. This update takes inventory of the present legal framework governing overseas funding in Indonesian actual property and supplies an outline of the expected challenges. Compliance Road Map for Companies in Indonesia Compliance is an important problem for international funding corporations doing enterprise in Indonesia.
New Ministry of Employment Regulation on Religious Festivity Allowance On 8th March 2016 the Minister of Employment issued Regulation No. 6 of 2016 on Religious Festivity Allowance for Employees in Companies. Indonesia’s Economic Stimulus Packages Between September 2015 and March 2016, the Indonesian central government launched 11 financial stimulus packages, which taken collectively are often recognized as Jokowi’s Economic Package . New Body Set Up to Resolve Disputes in Indonesia’s Construction Sector The Indonesian Centre for Arbitration and Alternative Dispute Resolution for Construction in late 2015 held its first seminar to announce its existence as a dispute decision physique in the field of development in Indonesia. Indonesia Foreign Investment – The 2016 Negative List The government has enacted a new Negative Investment List under Presidential Regulation No. 44 of 2016, which turned effective on 18 May 2016 and revokes the previous Negative Investment List stipulated underneath Presidential Regulation No. 39 of 2014. What You Need to Know about Indonesia’s New Tax Amnesty Law The Indonesian Government just lately issued the long-awaited and anticipated Tax Amnesty Law (Law No. 11 of 2016).
- As a consequence, the BKPM will temporarily droop the processing and issuing of licenses and can transition to a nationwide Online Single Submission system.
- Schools might want to adjust to the requirements of the PAPDC or potentially face financial consequences.
- Indonesia’s New Data Protection Rules Move Toward Passage After a number of information breaches underlined the urgency of comprehensive data protection guidelines, Indonesia expects to pass a knowledge safety regulation in 2020, despite the ongoing COVID-19 pandemic and related lockdowns.
- Foreign Investment Restrictions Restrictions on overseas shareholders in Indonesia are set out in the Negative Investment List contained in Presidential Regulation No. 39 of 2014 outlining the record of enterprise fields that are closed and enterprise fields which would possibly be open with requirements for investment.
BKPM Stops Issuing Licenses On 21st June, the government issued Regulation No. 24 of 2018 on Electronic Integrated Business Licensing Services. As a consequence, the BKPM will quickly droop the processing and issuing of licenses and can transition to a nationwide Online Single Submission system. Indonesia’s OJK Issues Regulation on Quick Restructuring for Troubled Banks in Wake of COVID-19 The COVID-19 world pandemic has taken a toll on the Indonesian economy, underlining the necessity for financial institutions to have adequate liquidity in the face of uncertain occasions. New Developments in Indonesian Immigration Policy On September 11, 2020, the Indonesian Government enacted a model new regulation that introduces a number of changes to the immigration regime that have an effect on foreigners, Indonesians and the procurement of travel paperwork. Sign up for the GBG Indonesia Quarterly Business Intelligence Report for the latest information on your sector.
Insurance Coverage
Real Estate Disputes in Indonesia There is no arbitration facility or course of particularly designed to accommodate actual estate issues under Indonesian law. Disputes related to actual estate are handled in an identical manner as some other dispute in Indonesia. Enactment of the New Trademark and Geographical Indication Law Indonesia lately enacted the new Trademark and Geographical Indication Law which is ready to exchange Law No. 15 of 2001. The new law will present safety to broader types of trademark, in addition to make it more time and cost-efficient for trademark house owners to acquire registration licences in Indonesia.
Public Reporting Points List
Employee Data Privacy in Indonesia The Indonesian Minister of Communication and Informatics relatively just lately issued MOCI Regulation No. 20 of 2016 relating to the Protection of Personal Data in Electronic Systems , which stipulates the protections afforded to private knowledge stored in an digital system. Background Checks Under Indonesian Employment Law Employers in Indonesia regularly perform background checks on applicants. The contents of Law Update usually are not supposed to be an alternative selection to particular legal advice on any particular person issues. No part of this publication could also be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or different digital or mechanical strategies, with out the prior written permission of the publisher, aside from individual use and other non-commercial uses permitted by copyright regulation. This version of our Luxembourg Legal Update covers, amongst different matters, the Law 17 December 2010 on Undertakings for Collective Investments and the new judicial procedures regarding public contracts. This edition of our Luxembourg Legal Update covers, amongst different matters, the Law of 28 October 2011 on the implementation of the credit rating company regulation, the Law of 2 September 2011 on enterprise licenses and the Law of 28 October 2011 on remuneration insurance policies within the Financial Sector.