Category: Newsflash

  • NewsflashNovember 5, 2014

    New Law on Halal Product Assurance

    The House of Representatives has enacted Law No. 33 of 2014 on Halal Product Assurance (“Halal Law”), which regulates the materials, processing, and certification of halal products, as well as international cooperation with foreign halal certification agencies. Previously, halal certification was not set under any law and was implemented by the Indonesian Islamic Clergy Council Read more…

  • NewsflashNovember 4, 2014

    New Obligation for Borrowers of Offshore Loans

    On October 28, 2014, Bank Indonesia issued Regulation No. 16/20/PBI/2014 on Implementation of the Prudential Principle in the Management of Offshore Loans for Non-Bank Corporations (“Regulation”). This Regulation reflects the Government’s concern about offshore borrowing and its impact on the financial health of borrowers, particularly with respect to currency risk, liquidity risk and overleverage risk. The Regulation may Read more…

  • NewsflashOctober 27, 2014

    Impact of the New Insurance Law on Insurance Supporting Businesses

    As discussed in our recent newsflash, the new Law on Insurance (“New Insurance Law”) passed by the House of Representatives on September 23, 2014, will bring about major changes for the insurance sector. A number of regulations are expected to be issued to implement provisions of the New Insurance Law and to accommodate the shift of Read more…

  • NewsflashOctober 17, 2014

    New Comprehensive Umbrella Law for the Insurance Sector

    One of the most anticipated draft laws circulating in recent years was finally passed by the House of  Representatives (“House”) on September 23, 2014. The Bill on Insurance will replace the current o bsolete legislation governing the insurance sector – Law No. 2 of 1992 on Insurance Companies (“1992 Law”) – when it becomes a law Read more…

  • NewsflashOctober 15, 2014

    BI Regulates Foreign Exchange Export Proceeds and Loans

    Bank Indonesia (“BI”) has updated Bank Indonesia Regulation No. 14/25/PBI/2012 regarding Receipt of Foreign Exchange Export Proceeds and Withdrawal of Foreign Exchange External Loans with the issuance of PBI No. 16/10/PBI/2014 dated May 14, 2014 (the “PBI”). The PBI governs the supervision of export proceeds in the form of foreign exchange and the withdrawal of foreign exchange loans Read more…

  • NewsflashOctober 13, 2014

    Constitutional Court Decides Employee Wages Get Priority over Secured Creditors in Bankruptcy / Liquidation

    Continuing the ongoing series of judicial reviews against the Labor Law,¹ the Constitutional Court rendered Decision No. 67/PUU-XI/2013 on September 11, 2014, with the result that payment of wages now receives top priority during bankruptcy or liquidation of an employer—even over satisfaction of secured creditors. The Decision revises Labor Law provisions that initially stipulated that Read more…

  • NewsflashOctober 2, 2014

    New Plantation Law – No Foreign Shareholding Limit, Yet

    On the night of Monday, September 29, 2014, the House of Representatives and the Government approved a draft bill on plantations, which will revoke Law No. 18 of 2004 on Plantations when it is signed by the president and given a number (becoming the “New Plantation Law”). In addition to laying a new general legal framework Read more…

  • NewsflashSeptember 30, 2014

    Entering the New Era of E-Money

    In a globalized era, there is nothing more convenient than electronic payment when it comes to choosing among available payment options. A form of electronic payment currently gaining momentum is electronic money, commonly known as e-money. To facilitate this momentum, Bank Indonesia (“BI”) issued Regulation No. 16/8/PBI/2014 of 2014 (“Amendment”) to amend Regulation No. 11/12/PBI/2009 of Read more…

  • NewsflashSeptember 19, 2014

    MOT and MEMR Regulate Coal Export

    On July 15, 2014, the Minister of Trade (“MOT”) issued Regulation Number 39/M-DAG/PER/7/2014 on Provisions on Export of Coal and Coal Products (“MOT Regulation”), which comes into force on October 1, 2014.1 One of the purposes of this regulation is to prevent overexploitation and ensure the domestic supply of coal and coal products, including anthracite, bituminous, subbituminous, lignite, coking Read more…

  • Newsflash

    New Presidential Regulation on Utilization of Foreign Workers and Training for Indonesian Workers

    For almost 20 years, Presidential Decree No. 75 of 1995 on Foreign Worker Utilization (“PD 75/1995”)  governed the status and procedures for employing foreign workers in Indonesia. In July 2014, Presidential Regulation No. 72 of 2014 on Foreign Worker Utilization and Implementation of Education and Training of  Indonesian Workers as Associates for Foreign Workers (“PR 72/2014”) Read more…


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