Introduction On 21 June 2017, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued OJK Rule No. 25/POJK.04/2017 on Restriction on Shares Issued prior to Public Offering (“New Rule”). The New Rule replaces Bapepam Rule No. IX.A.6 as attached to the decision of the Chairman of Bapepam No. Kep-06/PM/2001 on Restriction on Shares…
Read detailsIntroduction 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…
Read detailsOn 31 March 2017, the Minister of Law and Human Rights of the Republic of Indonesia (“MOLHR”) amended Regulation of MOLHR number 11 of 2016 on Guidelines regarding the Fees of Receiver and Administrator (“Regulation No. 11 of 2016”) by issuing Regulation of MOLHR number 2 of 2017 (“New Regulation”). Under the New Regulation, MOLHR…
Read detailsBy 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…
Read detailsby 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…
Read detailsIn overview, this update will highlight the anticipated impact of the MCI Regulation (when it comes into effect) on the business operation of foreign OTT service providers in Indonesia.
Read detailsThe 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.
Read detailsRecently, 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.
Read detailsI. Background The District Court of West Jakarta (the Court) has declared an English language loan agreement between a non-Indonesian lender and an Indonesian debtor null and void by operation of law since it did not contain an Indonesian language version. As a background, on 9 July 2009, the Indonesian Government enacted the Law No.…
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