Reporting Requirements on Share Ownership in Public Companies

Introduction  The Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) recently issued OJK Rule No. 11/POJK.04/2017 on Share Ownership Reporting in Public Companies (“New OJK Rule”) on 14 March 2017. This New OJK Rule revokes and replaces OJK Rule No. 60/POJK.04/2015 on Disclosure of Information of Certain Shareholders (“Previous OJK Rule”). Compared to the…

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Choosing Indonesia As the Seat of Arbitration – A Way To Simplify the Enforcement of Arbitral Awards in Indonesia

By Immanuel A. Indrawan – Partner (Commercial Dispute Resolution)   In Indonesia, enforcement of arbitral awards requires the leave of the court. The enforcement process is conducted in the same manner as enforcement of court judgments, in accordance with the civil procedural rules. Particularly for arbitral awards made outside the jurisdiction of Indonesia, an exequatur…

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Does Tax Amnesty Program Adversely Affect Investor Protection?

by Barli Darsyah – Partner (Corporate & Securities) Policies to support the implementation of Law No. 11 of 2016 on Tax Amnesty (“Tax Amnesty Law”) have been made by the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”). OJK recently issued Circular Letter No. 35/SEOJK.04/2016 on Mandatory Tender Offer as a Result of the Acquisition…

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KPK and antigraft campaign

The suspension of three KPK leaders and subsequent appointment of three interim leaders with a government regulation-in-lieu-of-law in 2009 raised some degree of controversy.

The enactment of the regulation in-lieu-of-law itself was question­able amid expectations that police should halt their investigations into allegations against Chandra Hamzah and Bibit Samad Rianto, two of the KPK’s leaders who were declared suspects in a bribery and abuse-of-power case.

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Medical malpractice and crimes

Recently, a number of Indonesian doctors staged a protest against the Supreme Court’s decision to jail three doctors for their role in the death of a pregnant patient in Manado. It appears that the ruling has been interpreted as the criminalization of the medical profession, an issue that has angered many doctors who claim it was a mishandling of a doctor-versus-patient case where doctors’ immunity from legal charges was supposed to be guaranteed in the performance of their profession.

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Update on Foreign Investment Regulation

The Head of Indonesian Investment Coordinating Board (Badan Koordinasi Penanaman Modal or BKPM) has issued a new Regulation No. 5 of 2013 regarding Guideline and Procedure for Licenses and Non-Licenses for Capital Investment (the New Regulation). This new regulation revokes the previous Regulation of Head of BKPM No. 12 of 2009 regarding Guideline and Procedure of…

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