Legal Update

Regulatory Developments within the Indonesian Banking Industry The Financial Services Authority has had regulatory authority over Indonesian banks, besides Bank Indonesia (“BI”), since 31st December 2013, as stipulated under Law No. 21 of 2011 concerning the Financial Services Authority. BI is Indonesia’s central financial institution and maintains jurisdiction over the monetary provide. Indonesia’s international investment policy has been in the spotlight because the Government of Indonesia conveyed in 2014 its intention to terminate all of its present bilateral investment treaties. Indonesia Introduces New Solar Power Regime In 2013, the Indonesian authorities first introduced a solar energy regulatory regime which required the government to publish solar energy quota allocations for numerous components of Indonesia. However, the Indonesian Supreme Court struck down this 2013 framework as being inconsistent. What You Need to Know about Indonesia’s New Tax Amnesty Law The Indonesian Government recently issued the long-awaited and anticipated Tax Amnesty Law (Law No. eleven of 2016).

Information Security Management Training Develop your skills to implement and audit your information security administration system to minimize your organization’s danger. Environmental Management Training Learn to mitigate and improve your environmental impression with environmental administration system programs – NQA and CQI and IRCA approved. Information Resilience and Risk Management Manage and mitigate the chance related to data and information. Annex SL Annex SL is the usual that defines the brand new excessive level construction for all ISO administration systems requirements. Construction The global development trade is one of the most profitable — and aggressive. Certification to any of a number of ISO standards is among the best investments a contractor could make.

Legal Update: Statutory Maternity Leave Extended To 14 Weeks With Effect From 11 December 2020

In Nautica Marine Ltd v Trafigura Trading LLC (‘The Leonidas’) the High Court thought-about the question in relation to negotiation of a voyage constitution, where the “suppliers’ approval” was required. The court docket determined this was a “pre-condition” of the contract, somewhat than a “performance situation”, a situation which doesn’t prevent a binding contract from coming into existence and which might have impliedly obliged one of the parties to take cheap steps to acquire the approval. The court docket based mostly its determination on a number of factors, including the approval being depending on the industrial judgment of one of many potential events. Uncertainty relating to the id of the related suppliers was additionally an element in the court docket’s reasoning.

  • The UK government has introduced new rules underneath which they’ll rule that an asylum declare is inadmissible.
  • Under the Priority Investment List the permitted and restricted sectors have been simplified.
  • You are encouraged to look via our online legal updates and publications by utilizing the search function beneath.
  • Associations Sanctions Act | Tax Criminal Law | Deloitte Legal Germany In German legal legislation, a turning level is looming.

No. eight/M-DAG/PER/2/2017, with the aim of simplifying the licensing course of for corporations. New Government Regulation on Foreign Ownership within the Insurance Sector The government issued new Government Regulation No. 14 of 2018 on Foreign Ownership Limitation in Insurance which supersedes and replaces previous authorities regulation within the insurance coverage sector. Franchise Agreements in Indonesia A franchise, beneath Indonesian regulations, is defined as a particular right owned by a person or a legal entity to a unique enterprise system that has confirmed successful in selling goods and/or providers, and can be utilized by another party primarily based on a Franchise Agreement. Protection of Privacy in Indonesia Article 28 is taken into account the idea for more particular data privateness legislation. However, there isn’t any particular law in Indonesia that regulates respect for personal and household life. As of the time of this writing, essentially the most related laws for the safety of privateness are related to non-public knowledge protection.

Texas Leasing & Property Administration Legal Update

Indonesian Omnibus Bill – Changes to Labor-Related Sectors The Indonesian House of Representatives just lately passed the Omnibus Bill on Job Creation (the “Omnibus Bill”). Indonesian Omnibus Bill – Changes to the Halal Products Law The Indonesian House of Representatives lately handed the Omnibus Bill on Job Creation (the “Omnibus Bill”). The stated goal of the Omnibus Bill is to bolster funding and create jobs by streamlining rules and simplifying the licensing course of to improve the ease of doing enterprise in Indonesia. Indonesia’s Omnibus Law Puts Focus on Direct Use of Geothermal Resources The Indonesian Government enacted Law No. 11 of 2020 concerning Jobs Creation (the “Omnibus Law”) on November 2, 2020. Indonesia Omnibus Bill – Potential Changes to the Immigration Law The Indonesian House of Representatives just lately handed the Omnibus Bill on Job Creation (the “Omnibus Bill”). Indonesia Omnibus Law – Changes to the Shipping Law Hint at Smoother Sailing for Business ) Indonesian President Joko Widodo lately signed Law No. eleven of 2020 on Jobs Creation (the “Omnibus Law”).

Legal Update

Similar to the previous rule, the following events must file a share ownership report back to OJK. Development of Oil and Natural Gas in Indonesia Indonesia’s oil and gasoline sector is ruled by Law No. 22 of 2001 relating to Oil and Gas. The oil and gas sector includes of upstream and downstream actions, that are separately regulated and organised.