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Firm: Makarim & Taira S.

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The New Regulation on E-Litigation
Makarim & Taira S., September 2019

The rapid development of technology in the modern era has required more effective and efficient case and court administration services. In addition, Article 2 (4) of Law Number 48 of 2009 on Judicial Powers requires the justice system to be simple, quick and low cost. For this reason, the Indonesian Supreme Court saw a need to reform the administrative and justice system in order to overcome the existing obstacles and challenges of administering the justice system...

BKPM Amends its regulation on the Procedures for License andInvestment Facilities: Divestment and Foreign Directors and Commissioners' Requirements
Makarim & Taira S., September 2019

The Investment Coordinating Board (Badan Koordinasi Penanaman Modal – “BKPM”) recently issued Regulation No. 5 of 2019 (“Reg No. 5/2019”) which came into effect on 29 July 2019. Reg No. 5/2019 amends BKPM Regulation No. 6 of 2018 on the Guidelines and Procedures for Licenses and Investment Facilities (“Reg No...

Halal Products Certification
Makarim & Taira S., August 2019

Overview Following the enactment of Law No. 33 of 2014 on Guarantees for Halal Products (“Law 33/2014”), its implementing regulation, Government Regulation No. 31 of 2019 (“GR 31/2019”), was recently issued and came into effect on 3 May 2019. In principle, Law 33/2014 requires that all products imported, distributed or traded in Indonesia be certified halal in accordance with Islamic principles...

Joko Widodo Re-elected: How Will it Affect Doing Business in Indonesia?
Makarim & Taira S., July 2019

The presidential election is over and the incumbent president of Indonesia, Joko Widodo,known familiarly as ‘Jokowi’, has officially been re-elected as the President of The Republic of Indonesia for the 2019-2024 term...

New Regulation on Foreign Construction Representative Offices and Construction Foreign Investment Companies
Makarim & Taira S., July 2019

On 13 June 2019, the Minister of Public Works and Public Housing (“MPW”) issued Regulation No. 09/PRT/M/2019 on Guidelines on Licensing Services for Foreign Construction Business Entities (“Reg No. 9/2019”) replacing:(i) MPW Regulation No. 10/PRT/M/2014 on Guidelines on Issuing Licenses to Representatives of Foreign Construction Service Corporate Bodies (“Reg No. 10/2014”); and (ii) MPW Regulation No...

Minister of Law and Human Rights Regulation on the Settlement of Disharmony Between Law and Regulations Through Mediation
Makarim & Taira S., May 2019

Overview On 12 February 2019, the Minister of Laws and Human Rights (“MOLHR”) issued Regulation No. 2 of 2019 on The Settlement of Disharmony between Laws and Regulations through Mediation (“MOLHR Reg 2/2019”), which came into effect on 14 February 2019. MOLHR Reg 2/019 replaces the previous regulation on the same subject, MOLHR Regulation No. 32 of 2017 on The Procedure for the Settlement of Disputes over Laws and Regulations through Non-Litigation...

Permanent Business Establishment in Indonesia
Makarim & Taira S., April 2019

The Government of the Republic of Indonesia recently issued Minister of Finance Regulation No. 35/PMK.03/2019 (“Regulation 35/2019”) on The Determination of a Permanent Business Establishment (BUT)...

BANI Legal Status Up in the Air
Makarim & Taira S., April 2019

The Indonesia National Board of Arbitration (BANI), otherwise known as the BANI Arbitration Centre, provides a range of services in relation to arbitration, mediation, binding opinions and otherforms of dispute resolution. In 2015 all of the original BANI founders passed away. On 8 September 2016 BANIPembaharuan(ie, the Renewed BANI) was created by way of Ministry of Law and Human Rights (MOLHR) Decision AHU-0064837.AH.01.07.TAHUN 2016 of 20 June 2016...

New Merger Control Rules Which Will Apply in Indonesia
Makarim & Taira S., March 2019

Although it is included in Indonesia’s annual national legislation program(Program Legislasi Nasional/Prolegnas)so far, the draft new Indonesian Competition Law which will replace Law No. 5 of 1999 on The Prohibition against Monopolistic Practices and Unfair Business Competition (the “Competition Law”), has not been passed...

Bank Indonesia Issues a New Regulation on the Reporting of Foreign Exchange Flow Activities
Makarim & Taira S., March 2019

Bank Indonesia (“BI”) recently issued Regulation No. 21/2/PBI/2019 on theReporting of Foreign Exchange Flow Activities (Kegiatan Lalu Lintas Devisa)(“Reg. 21/2”) on 7 January 2019, which came into effect on 1 March 2019. Reg. 21/2 partially revokes BI Regulation No...

Mandatory Deposit of Foreign Exchange Export Proceeds Deriving from Natural Resources
Makarim & Taira S., February 2019

On 10 January 2019, the Indonesian Government enacted GovernmentRegulation No. 1 of 2019 on Export Proceeds from the Exploitation,Management, and/or Processing of Natural Resources (“GR 1/2019”)...

New Regulation on Owners and Occupants Association
Makarim & Taira S., February 2019

On 14 September 2018 the Ministry of Public Works and Public Housing of the Republic of Indonesia introduced Regulation of the Ministry of Public Works and Public Housing of the Republic of Indonesia Number 23/PRT/M/2018 on the Owners and Occupants’ Association of Multistoried Dwelling Units (“Regulation 23”)...

The New Incentive for Whistleblowers for Revealing Crimes of Corruption?
Makarim & Taira S., January 2019

To date, the Indonesian government and institutions have largely remained entrenched in an endemic culture of corruption. Despite major victories before the court by the Corruption Eradication Commission (“KPK”) in recent years, crimes of corruption (especially bribery and gratification) remain a major problem at every level of government institution...

Indonesian Equity Crowdfunding Regulation
Makarim & Taira S., January 2019

The Financial Services Authority (“OJK”) recently issued OJK Regulation No 37/POJK 04/2018 on equity crowdfunding services.  This will allow offers of shares for sale by an issuer directly to investors through an open information technology system (“POJK37/2018”). POJK 37/2018 applies to offers of shares through a Crowdfunding ServicesProvider’s system...

Indonesian Equity Crowdfunding Regulation
Makarim & Taira S., January 2019

The Financial Services Authority issued OJK Regulation No. 37/ POJK 04/2018, on 31 December 2018 on equity crowdfunding services (the “Crowdfunding Services”) which allow offers of shares for sale by an issuer directly to investors through an open information technology system (“POJK 37/2018”). POJK 37/2018 applies to offers of shares through a Crowdfunding Services Provider’s system...

Merger Reportability Analysis
Makarim & Taira S., October 2018

Under Government Regulation Number 57 and Indonesian Competition Authority (KPPU) Guidelines Number 02 , the criteria for determining whether a foreign merger (the definition includes a share acquisition) conducted outside Indonesia is reportable under the current Indonesian merger control rule (please note that the current merger control rule are the following: The Asset and/or revenue thresholds The value thresholds for a reportable transaction are: a...

Five Issues Commonly Encountered In Commercial Building Leases In Indonesia
Makarim & Taira S., October 2018

With an estimated economic growth of 5.1% – 5.2% for 20181, economicactivities in Indonesia are expected to show a strong improvement. One ofthe indications of strong economic activities is the growing need for officespace for businesses. It is expected that office space in Jakarta will increaseby another 1.5 million square meters in 2018 – 20202 from 6 million squaremeters at the end of 20173...

Regulatory Sandbox of OJK
Makarim & Taira S., August 2018

Earlier this year, the OJK issued a new regulation on financial digitalinnovation in financial services (“POJK 13/POJK.02/2018”). This is aregulatory sandbox version of the OJK (please see our Advisory on theregulatory sandbox of Bank Indonesia issued in 2017). Definitions According to POJK 13/POJK...

MEMR Regulations Simplified to Improve Business and Investment Growth
Makarim & Taira S., August 2018

Earlier this year, the Ministry of Energy and Mineral resources ("MEMR") issued Press Release No. 00022/04/SJI/2018 to continue arranging dozens of overlapping regulations and permits ("Simplification"). So far, 90 regulations and 96 certifications/recommendation/permits ("Regulations") have started since 22 January 2018...

Updates on Force Majeure Provisions Under the Power Purchase Agreements
Makarim & Taira S., August 2018

  Earlier this year, the Minister of Energy and Mineral Resources (the “MEMR”) issued Regulation Number 10 of 2018 on The Second Amendment to Minister of Energy and Mineral Resources Regulation Number 10 of 2017 on the Principles of Power Purchase Agreements (“MEMR Reg 10/2018”) which came into effect on 13 February 2018...

Bank Indonesia's National Payment Gateway Introduced
Makarim & Taira S., August 2018

The regulation on the national payment gateway has finally been issued. Bank Indonesia (“BI”), through its regulation No. 19/8/PBI/2017 (“PBI 19/8”) aims to establish national payment system interoperability by implementing switching interconnectivity. The following is a general overview of PBI 19/8...

New Regulation on Capital Investment Licensing and Facilities
Makarim & Taira S., August 2018

In order to implement Government Regulation No. 24 of 2018 which introduced an online system for processing and issuing certain business licenses (known as the Online Single Submission “OSS” system), earlier this year, the Investment Coordinating Board (“BKPM”) issued 2 new regulations on investment, ie BKPM Regulation No. 6 of 2018 on the Guidelines and Procedure for Capital Investment Licensing and Facilities (“Regulation 6/2018”) and Regulation No...

New Rules for Application Based Public Transportation
Makarim & Taira S., September 2016

The Minister of Transportation has issued Minister of Transportation Regulation No. PM 32 of 2016 on the Organization of Non-Fixed-Route Public-Transportation Services. This regulation addresses the ongoing dispute between the existing transportation companies and application-based transportation services...

New Rules for Application Based Public Transportation
Makarim & Taira S., June 2016

The Minister of Transportation has issued Minister of Transportation Regulation No. PM 32 of 2016 on the Organization of Non-Fixed-Route Public-Transportation Services. This regulation addresses the ongoing dispute between the existing transportation companies and application-based transportation services...

2016 Negative List Revision Released
Makarim & Taira S., June 2016

The Indonesian Government has released the long-awaited revision to the Negative List (DNI).  The revised regulation (Presidential Regulation No. 44/2016) was promulgated on 18 May 2016 and circulated to the public on 24 May.  The DNI regulates the sectors which are closed, open, or conditionally open to investment. The DNI revision is keenly awaited as it stipulates, amongst other matters, restrictions on foreign participation in various business activities in Indonesia...

 

 

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