12 Mar, 2021

Legal Updates

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).

Legal Update

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 …

10 Mar, 2021

Dps Legal Updates

One of the primary themes of the Omnibus Law (Law No. 11 of 2020 on Job Creation) is efficiency. This theme may be seen, amongst others, in the streamlining of licenses and their software. 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 through sharing of radio frequency spectrum, switch of radio frequency spectrum, and sharing of infrastructure. OJK issued Circular Letter No. 24/SEOJK.05/2017 became effective on 1 July 2017.

  • The pandemic triggered many charities to locate and browse their insurance coverage insurance policies, in particular any enterprise interruption provisions.
  • From modifications in laws and case regulation to regulatory reforms, at Ashurst we’re capable of assist you on all legal developments.
  • Law No. 13 of 2003 regarding Employment permits a company to terminate workers when closing the corporate for effectivity reasons.
  • Published 24 instances per year, this newsletter retains you recent with new laws, regulations, and reported courtroom decisions in New York.
  • A new Bill on tax sanctions against EU blacklist international locations was submitted for session on 12 November 2020.

This is a judgment that may present a substantial amount …

9 Mar, 2021

Legal Updates Service

The Privy Council found that the contractor’s profit beneath the second contract was throughout the reasonable contemplation of the parties when the contracts were entered into and thus was not too remote. The choice offers a useful analysis of how established contractual principles apply on this context. Legal Updates On this page you will discover the newest environmental, vitality and healthy & safety legal updates for the UK. You are encouraged to look via our on-line legal updates and publications by using the search perform beneath.

Legal Update

New OJK Rules on Rights Issues and Prospectuses for Rights Issues On twenty second December 2015, the Indonesian Financial Services Authority (“OJK”) issued OJK Rule No.32/POJK.04/2015 and OJK Rule No.33/POJK.04/2015 which collectively launched several important modifications to rights issues in Indonesia. Indonesian Regulatory Framework for Real Estate Investment Funds In late 2015, the Indonesian Minister of Finance issued a regulation to encourage the growth of actual property investment funding within the type of Collective Investment Contracts. Regulatory Framework for Indonesian Airport Business Activities The regulation of airports is underneath the jurisdiction of the Ministry of Transportation . The most up-to-date primary regulation on airport enterprise actions is MOT Regulation No. sixty nine of 2013. …

6 Mar, 2021

Monthly Legal Updates

Background checks usually are not expressly regulated by Indonesian employment laws, and sure background checks are topic to the consent of the applicant in practice. Government to Issue Regulation to Re-order or Revoke IUPs For the previous 5 years, the Ministry of Energy and Mineral Resources has sought to tidy up historic anomalies in the issuance of mining business permits . Against this background, it has been lately floated within the media that the MEMR may soon problem a regulation to sort out problematic IUPs. Regulation 85 introduces the idea of Bonded Logistics Centres as one kind of Bonded Storage Places in Indonesia. Fiduciary Security Registration in Indonesia The Indonesian authorities has issued Government Regulation No. 21 of 2015 relating to Procedures to Register Fiduciary Security and Fees to Draw Up a Fiduciary Security Deed (“GR 21/2015”). Licensing of Insurance and Reinsurance Providers in Indonesia Insurance and reinsurance companies doing enterprise in Indonesia must be licensed by the Financial Services Authority .

  • Discrimination Law and Equality in Indonesia Indonesia doesn’t have an overarching anti-discrimination law; somewhat, a patchwork of laws and sector-specific regulations prohibit discrimination and encourage equality.
  • Because of the Coronavirus public well being disaster, there have been some
4 Mar, 2021

Legal Updates

The adjustments involve a serious shift of the duty for tax compliance from workers’ private service firms on to their end-user clients. Charity Legal Update offers you up to date news on the latest legal and coverage decisions affecting the charity sector. The blog posts are written by our group of specialist charity lawyers at prime 50 UK regulation firm, Mills & Reeve LLP. In our first actual property shopper update, we discussed adjustments to the spatial utilisation permit, building permits, amendments under the Housing Law and Apartment Law, and overseas ownership of apartment models. In this second update, we focus on other crucial adjustments to this sector, which embody land procurement for public functions, the establishment of the Land Bank, and strengthening of the Right to Manage title.

  • Employee Data Privacy in Indonesia The Indonesian Minister of Communication and Informatics relatively just lately issued MOCI Regulation No. 20 of 2016 concerning the Protection of Personal Data in Electronic Systems , which stipulates the protections afforded to personal knowledge saved in an digital system.
  • Following its issuance, builders reported the identical challenges in acquiring the necessary licenses.
  • The Indonesian Government Resumes Discussions on Over-The-Top Regulation The 2017 Draft OTT Regulation
24 Feb, 2021

Dps Legal Updates

Minister of Finance Eliminates Double Taxation on Real Estate Investment Trusts On tenth November 2015, the Minister of Finance issued Regulation No. 200/PMK.03/2015 on the Tax Treatment of Taxpayers and Taxable Entrepreneurs That Use a Certain Collective Investment Contracts Scheme for the Finance Sector. Under this regulation, the Minister of Finance offers a number of tax facilities to Real Estate Investment Funds. Foreign Investment Restrictions Restrictions on overseas shareholders in Indonesia are set out within the Negative Investment List contained in Presidential Regulation No. 39 of 2014 outlining the listing of business fields that are closed and enterprise fields which are open with necessities for investment.

Legal Update

Expanded Coverage and New Feed-in Tariff for Indonesia’s Waste to Energy Projects The authorities just lately issued Presidential Regulation No. 35 of 2018 on the acceleration of development of waste to energy initiatives. Bank Indonesia Sets New Limits for the Provision of E-Money Bank Indonesia issued a regulation on e-money that stipulates numerous requirements and prohibitions that had been beforehand unregulated. New Regulation in Managing Oil and Gas Working Areas with Expiring PSCs The authorities has issued MEMR Regulation No. 23 of 2018, which states that a PSC Contractor doesn’t automatically have the right …

22 Feb, 2021

Legal Updates Service

In Gwynt y Mor Ofto PLC v Gwynt y Mor Offshore Wind Farm Ltd and others the court followed this strategy, deciding that an indemnity should be construed narrowly for consistency’s sake, in order that it coated only the six days between signing and completion in a transaction. The decision doesn’t break new ground, however emphasises the need to review an settlement in its entirety, and not simply verify particular person sections before finalising the doc. The that means of ‘topic to contract’ is well understood, and there are numerous cases explaining it. But contracts are often topic to other things, such because the approval of a sure individual or body. In such cases, the effect of failure to acquire the relevant approval may be unclear.

Legal Update

OJK Regulation No. sixty seven/POJK.05/2016 requires insurance firms to report the appointment of a controller to the OJK, as required by the Insurance Law. The Development of Personal Data Protection in Indonesia After months of drafting and deliberation, Indonesia’s Ministry of Communication and Informatics (“MOCI”) in late 2016 issued an extended-awaited regulation on the safety of private information. Approvals Required for Changes in Shareholding and Board Members of Power and Geothermal Companies These contractual …

21 Feb, 2021

Monthly Legal Updates

For a abstract of the recent modifications to the immigration rules, head over to our sister blog hr regulation reside. Other adjustments embrace the introduction of a brand new graduate route, and minor changes to the Global Talent route. The Government also, in the Budget, launched a journey declaration kind for these wishing to journey abroad for legally permitted reasons – with a few of the permitted causes being work, schooling and volunteering. This change is welcome information for the social care sector, which has long campaigned for senior care employees to be added to the scarcity occupation list, to allow care providers to have the ability to recruit suitable candidates exterior of the UK. The response from the Government also confirms the Charity Commission “intends” to update its steerage on managing a charity’s funds to make clear the supply of charity property to creditors where a charity turns into bancrupt.

  • M/3/HK.04/III/2020 on worker/labour safety and enterprise continuity for the prevention and management of COVID-19, which supplies that employers must proceed paying full wages of employees who are working from residence unless an agreement between the two parties offers otherwise.
  • The Development of Personal Data Protection in Indonesia After months