Legal Update

Legal Update

Indonesia Omnibus Law – Changes to the Company Law Indonesia’s intently watched omnibus jobs creation bill lately grew to become law. The stated goal of the Omnibus Law is to bolster funding and create jobs by streamlining regulations and simplifying the licensing process to improve the benefit of doing enterprise in Indonesia. Indonesian Omnibus Bill – Changes to Labor-Related Sectors The Indonesian House of Representatives lately handed the Omnibus Bill on Job Creation (the “Omnibus Bill”).

New OJK Rule on Public Accountants and Public Accountant Offices The issuance of this new rule has an impact on the engagement of exterior auditors by publicly-listed companies given that public corporations are one of the topics being regulated and supervised by OJK. Data Categorization for Electronic System Operators Providing Public Services The MOCI has issued a draft amendment to Government Regulation No. 82 of 2012 which requires digital system operators offering public providers to have onshore data facilities and catastrophe recovery centers. The New Tax Holiday Regulation of Indonesia New Minister of Finance regulation provides extra enticing company earnings tax discount facilities for investors. NIK New Development The DGCE regulation requires a company to process the IMTA and NPWP for foreign directors not residing in Indonesia. Franchise Agreements in Indonesia A franchise, beneath Indonesian regulations, is outlined as a special right owned by an individual or a legal entity to a novel enterprise system that has proven successful in selling goods and/or providers, and can be used by one other party based mostly on a Franchise Agreement.

Legal Update

Bank Indonesia Regulations on Foreign Exchange Transactions Bank Indonesia just lately issued a quantity of regulations related to international trade transactions by Indonesian banks. These rules update existing rules issued by BI with the aim of creating a healthy international trade market in Indonesia, as is defined in this transient abstract. Government Changes Divestment Requirements for Mining Companies in Indonesia Indonesia’s mining business stays in flux. On 14th October 2014, the Indonesian Government issued the third amendment to Government Regulation No. 23 of 2010 regarding the Implementation of Mineral and Coal Mining Business Activities and in doing so introduced revised divestment necessities. Guide to Background Checks in Indonesia Employers in Indonesia regularly perform background checks on candidates.

Enterprise Updates

Guide to Benefits in Indonesia In 2011, the Indonesian government reformed its National Social Security System and passed Law No. 24 on the Social Security Organising Body to help meet the basic wants of the country’s inhabitants. Companies in Indonesia are required to register employees in the Indonesian government’s employment social safety programmes. New Regulation on Trademark Registration and Criteria on Well-Known Trademark Regulation 67 became efficient on 30th January 2017 and provides more detailed provisions on trademark registration procedures standards to determine the similarity of goods/services in addition to criteria on well-known emblems.

  • The contents of Law Update aren’t meant to be a substitute for particular legal advice on any particular person matters.
  • The Halal Product Assurance Law needs around 20 implementing regulations which must be issued within two years after 17th October 2014.
  • Providing a further floor for revocation of domain names by way of administrative measures (i.e., a decision on administrative sanction by an inspectorate of data and communication).
  • The Singapore Exchange has lately carried out new guidelines that enable particular objective acquisition firms (“SPACs”) to record on the Mainboard of the Singapore Exchange Securities Trading Limited.

BKPM Stops Issuing Licenses On twenty first June, the federal 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 will 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 monetary establishments to have adequate liquidity in the face of uncertain occasions. New Developments in Indonesian Immigration Policy On September eleven, 2020, the Indonesian Government enacted a brand new regulation that introduces several 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 newest information in your sector.

Legal Update: Spring 2018

Indonesian Government Publishes 2017 Cost of Electricity Generation Figures The Government lately issued Decree No. 1772 K/20/MEM/2018 which illustrate the prices to PLN of procuring energy from the completely different systems/sub-systems all through Indonesia. Indonesia’s PLN Invites Hydropower Developers to Prequalify Indonesia’s state-owned energy utility PLN, has issued an invite to hydropower developers to submit functions to be included on the List of Selected Providers for Indonesian hydropower tasks with a capacity of above 10MW. New Regulation in Managing Oil and Gas Working Areas with Expiring PSCs The government has issued MEMR Regulation No. 23 of 2018, which states that a PSC Contractor does not mechanically have the best to a PSC extension. Procurement Arrangements in the Indonesian Construction and Projects Sector Under Indonesian Law No. 2 of 2017 (the “Construction Law”), procurement preparations in Indonesia are made via the execution of a building work contract between the project owner/employer and the service provider/contractor. Terminating an Employment Relationship in Indonesia Under Law No. 13 of 2003 relating to Labor (the “Labor Law”) and different prevailing labor legal guidelines and regulations, employment-at-will and termination upon easy notice are not recognized in Indonesia.

To learn extra about our providers and get the latest legal insights from across the Middle East and North Africa region, click on on the link below. This version of our Luxembourg Legal Update covers, amongst other topics, Bill N° 6398 on the modification of the Insurance Sector Law and the Grand Ducal Regulation of 14 December on the new mandatory procedure for the submitting of financial info with the Luxembourg register of commerce. This version of our Luxembourg Legal Update covers, amongst other subjects, the CSSF Annual Activity Report for 2014 and the Prospectus Law, and a case law on the limitation of legal responsibility clause for banks. This version covers, amongst other subjects, Reserved Alternative Investment Funds and the Law of 18 December 2015 amending certain provisions of the Companies Law, the Law on the Register of Commerce and Annual Accounts and the Luxembourg commercial code. This version covers, amongst other matters, the Law of eleven October 2016 on the reform of the parental depart, the Law of 23 July 2016 on the new type of simplified S.à.r.l.