News andUpdates
News and Updates
November 28, 2019
KPPU Launches New Regulation on Post-Closing Notifications on Mergers, Consolidations, and Acquisitions (Including Asset Transfers)
Overview On October 2, 2019, the Business Competition Supervisory Commission (Komisi Pengawas Persaingan Usaha or “KPPU”) issued Regulation No. 3 of 2019 on Assessment of Mergers or…
November 20, 2019
Answers to Certain Questions Relating to Language of Agreements
References Law No. 24 of 2009 dated July 9, 2009 on National Flag, Language, and Coat of Arms, and Anthem (“Law 24”); and Presidential Regulation No. 63 of 2019 dated September 30, 2019 on Use…
November 11, 2019
Reporting Requirements for Corporations in the Implementation of Know-Your-Beneficial-Owner Principle
Following the enactment of Presidential Regulation No. 13 of 2018 dated March 5, 2018 on Implementation of Know-Your-Beneficial-Owner Principle by Corporations for the Prevention and Eradication of…
November 11, 2019
Law on Legislative Drafting Amended
On October 2, 2019, Law No. 15 of 2019 (“Law 15”) was issued to amend several provisions of Law No. 12 of 2011 dated August 12, 2011 on Legislative Drafting (“Law 12”). Law 15 addresses several…
November 11, 2019
Amendments to KPK Law Are Now Formally Effective
On September 17, 2019, the House of Representatives along with the Government passed the Corruption Eradication Commission (“KPK”) bill (the “KPK Bill”), which is a second revision to Law No. 30 of…
November 6, 2019
BPJS Premiums Increase by 100 Percent
On October 24, 2019, the Government officially increased the premium of the Healthcare and Social Security Agency (“BPJS Kesehatan”) under Presidential Decree No. 75 of 2019 on Amendments to…
October 31, 2019
New OJK Regulation on Anti-Money Laundering and Prevention of Terrorism Funding in Financial Services Sector
The Financial Services Authority (Otoritas Jasa Keuangan - “OJK”) issued OJK Regulation No. 23/POJK.01/2019 on September 30, 2019 (“POJK 23/2019”) to amend several provisions of the previous OJK…
October 21, 2019
BKPM to Launch Online Single Submission System (OSS) Version 1.1 on January 1, 2020
On October 17, 2019, the Capital Investment Coordinating Board (Badan Koordinasi Penanaman Modal or “BKPM”) issued BKPM Letter No. 5743/A.8/B.1/2019 (“Letter 5743”) on Implementation Plan of a New…
October 4, 2019
Minister of Trade Relaxes Franchise Regulation
On September 4, 2019, the Minister of Trade (the “MOT”) issued MOT Regulation No. 71 of 2019 on Franchise Implementation (“MOT Reg. 71/2019”). MOT Reg. 71/2019 revokes and replaces a number of…
September 18, 2019
Contributions for Oil Fuel Supply and Distribution, and Gas Transportation Through Pipelines
On July 8, 2019, the Government issued Government Regulation No 48 of 2019 on Amounts and Utilization of Contributions of Business Entities in the Business Activities of Fuel Oil Supply and Gas…