Legal Update #5

New OJK Rule on Public Accountants and Public Accountant Offices The issuance of this new rule has an influence on the engagement of exterior auditors by publicly-listed firms provided that public corporations are one of many topics being regulated and supervised by OJK. The OJK Issues New Circular Letter on Micro-insurance coverage Products Circular Letter 9, while not in the form of an OJK regulation, now prescribes an in depth method and approach to the distribution and sale of micro-insurance coverage products. Bankruptcy Law and Suspension of Debt Payments in Indonesia In 2016, the Supreme Court issued Circular Letter No. 2 of 2016 regarding Enhancement of Efficiency and Transparency in Handling Bankruptcy and PKPU Cases in Court. ESDM Regulation forty two and Oil and Gas Companies On 14th July 2017, the Minister of Energy and Mineral Resources published Regulation No. forty two of 2017 (Reg. forty two). The share transfer/change in management and change of director provisions of Reg.

Legal Update

It is aimed to manage a more streamlined and environment friendly enterprise licensing process, and in some instances, even removing the licensing requirement for sure businesses. The session process for the forthcoming Danish Investment Screening Act has begun. The bill additionally grants the Danish Business Authority the authority to display non-reported investments falling throughout the scope of the Act for as much as 5 years after their completion.

Singapore High Courtroom Sets Apart Part Of An Icc Arbitration Award For Breach Of Natural Justice And Extra Of Jurisdiction

Update on Import Regulations for Indonesia Indonesia’s Ministry of Trade recently issued new regulations that have an effect on the foundations for importing beverages, cosmetics, electronics, used capital goods and horticultural products. Among these embrace MOT Regulation No. 87/2015 concerning Provisions on the Import of Certain Products. The Halal Product Assurance Law wants round 20 implementing laws which must be issued within two years after 17th October 2014. The Halal certification obligation under the Halal Product Assurance Law will turn into necessary 5 years after 17th October 2014. BKPM Supports Indonesian Tax Amnesty Programs by Issuing a Facilitating Regulation On twenty eighth October 2016, the Head of the Capital Investment Coordinating Board issued Regulation No. 8 of 2016 (“Regulation 8”), which immediately went into impact.

Foreign Investment in Indonesian Real Estate Indonesia’s Agrarian Law offers that foreigners can only purchase a proper to make use of title for land if they reside in Indonesia. This update takes inventory of the current legal framework governing foreign funding in Indonesian real property and provides an summary of the expected challenges. A Closer Look at Indonesia’s Condominium Law Indonesia enacted a new Condominium Law in 2011 which replaced Law No. 16 of 1985 but has not yet been formally implemented.

Minimum Got Shareholding Rules Printed

Nonetheless, considerations in direction of international investments are rising, significantly if foreign buyers are being influenced or supported by third-country governments. Several sectors, including public services, whose necessity has been distressingly proven by the global pandemic, in addition to high-tech industries, are subject to those concerns. Therefore, the provisions associated to foreign direct investments have been additional tightened in 2020. This development also continues in 2021 with a large enlargement of the catalogue of crucial sectors. Therefore, we will additional update you on further growth of employment law because of the influence of the COVID-19 pandemic.

  • Governments are responding with interest rate cuts and quantitative easing programmes on a scale not seen for the reason that 2008 monetary crisis.
  • Persons receiving data on this website shouldn’t act upon the data provided without in search of skilled legal counsel.
  • Update on Import Regulations for Indonesia Indonesia’s Ministry of Trade recently issued new rules that have an effect on the foundations for importing drinks, cosmetics, electronics, used capital goods and horticultural merchandise.
  • Our international industry groups work collectively to share knowledge and expertise so that we are able to present our clients with insightful, progressive commercial advice.
  • Littler Mendelson is part of the international legal follow Littler Global which operates worldwide via a number of separate legal entities.
  • PSBB is a measure taken by central and provincial government to briefly limit a variety of common social and public activities inside a metropolis or province – just like a semi-lockdown situation.

Register to access unique content material, signal up to obtain our updates and personalise your expertise on Real property professionals who take the 2021 Legal Update course will be taught key ideas related to contracts, finance and conflicts of curiosity. You will understand how actual property ownership, due diligence, assignments and human rights lodging have an effect on the skilled services you present to shoppers. Updated every year, this course ensures you stay current with the newest legal and regulatory developments, as well as finest apply reminders. Indonesian Language Law from the Perspective of the Courts In 2013, the West Jakarta District Court issued a groundbreaking determination that captured the attention of the enterprise group in stipulating that the Indonesian language have to be used in industrial agreements with Indonesian companies and agencies. Regulation Curbs Power of Local Authorities in Indonesian Mining Sector The Indonesian government appears to be getting severe about stripping regents of the authority to concern mining licenses.

Course revenues support the development of additional instructional assets and programs to reinforce real property professionals’ data and assist them to adjust to regulatory necessities. Once your registration has been processed, you will obtain a confirmation email with details on tips on how to access the web part of the course. This web site is solely supposed to supply common data and doesn’t provide any recommendation or create any relationship, whether legally binding or in any other case. Rajah & Tann Asia and its member companies don’t settle for, and totally disclaim, responsibility for any loss or injury which may end result from accessing or counting on this web site. Member firms are independently constituted and controlled in accordance with related native legal necessities.