Regulatory Developments in the Indonesian Banking Industry The Financial Services Authority has had regulatory authority over Indonesian banks, except Bank Indonesia (“BI”), since thirty first December 2013, as stipulated under Law No. 21 of 2011 regarding the Financial Services Authority. BI is Indonesia’s central bank and maintains jurisdiction over the monetary supply. Indonesia’s worldwide investment policy has been in the spotlight for the reason that 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 government first launched a solar power regulatory regime which required the federal government to publish solar power quota allocations for numerous parts 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 lately issued the long-awaited and anticipated Tax Amnesty Law (Law No. 11 of 2016).
Indonesian Omnibus Bill – Changes to Labor-Related Sectors The Indonesian House of Representatives just lately handed the Omnibus Bill on Job Creation (the “Omnibus Bill”). Indonesian Omnibus Bill – Changes to the Halal Products Law The Indonesian House of Representatives recently passed the Omnibus Bill on Job Creation (the “Omnibus Bill”). The acknowledged aim of the Omnibus Bill is to bolster investment and create jobs by streamlining laws and simplifying the licensing course of to improve the convenience of doing business in Indonesia. Indonesia’s Omnibus Law Puts Focus on Direct Use of Geothermal Resources The Indonesian Government enacted Law No. 11 of 2020 relating to 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 E-newsletter Problem No 02
By continuing to use this web site you agree to our use of our cookies until you could have disabled them. We set out and consider each legal proposal in the part on working together and supporting integration and innovation. The Government has put forward a further series of focused proposals to enhance social care, public health, and quality and safety. The authorities announced that it will be launching a call for proof to help monitor the general progress of negotiations between landlords and tenants for paying or writing off outstanding rents.
- The government took the primary steps in this direction with Minister of Energy and Mineral Resources Regulation No. 27 of 2013.
- The OJK should approve or reject the license software no later than 30 days after the complete software is acquired.
- Until the COVID-19 pandemic ceases to exist, the Government will doubtless implement restrictions on social elements of public lives and the impact of such restrictions to companies.
- The decision suggests that agents who suppose they are appearing for a party should take care to acquire the explicit consent of their principals, who might in any other case believe that they are being copied into emails purely “for data”.
- In exercising its discretion, the courtroom applied established tips and took observe specifically of the energy of the problem, the reasonableness of the claimant’s conduct in relation to suspected fraud, and the demands of overall equity and public coverage.
One of the primary themes of the Omnibus Law (Law No. 11 of 2020 on Job Creation) is effectivity. This theme can be seen, amongst others, in the streamlining of licenses and their application. In the telecommunications sector, the Omnibus Law amends the Telecommunications Law (Law No. 36 of 1999) and the Broadcasting Law (Law No. 32 of 2002), by introducing effectivity via sharing of radio frequency spectrum, transfer of radio frequency spectrum, and sharing of infrastructure. OJK issued Circular Letter No. 24/SEOJK.05/2017 grew to become effective on 1 July 2017.
Better Factories Cambodia Transparency Database Report, Tenth Cycle
This is a judgment that will provide a great deal of consolation to the sector, on condition that there are, little doubt, many charity trustees at current being forced to make troublesome financial decisions on behalf of their charities. The Official Receiver had sought to argue that the trustees / administrators have been answerable for monetary mismanagement, in that they had allowed the charity to function an unsustainable business mannequin. The primary objective of an software to disqualify directors, as made by the Official Receiver here, was recognized as being to protect the general public. The pandemic triggered many charities to locate and read their insurance insurance policies, particularly any enterprise interruption provisions. It had been thought, nevertheless, that commonplace property enterprise interruption insurance coverage policies had been most unlikely to have been triggered by the coronavirus disaster.