Archive for the ‘Legal Updates’ Category

Jakarta

Government to Approve Corporate Actions in the Indonesian Energy Sector

By Ira A. Eddymurthy and Fransiscus Rodyanto The Indonesian Minister of Energy and Mineral Resources (“MEMR”) has issued MEMR Regulation No. 42 of 2017 regarding Supervision of Business Activities in the Energy and Mineral Resources Sector (“MEMR 42/2017″). The stated aim of MEMR 42/2017, which took effect on July 17, 2017, is to improve the [...]

Businessmen

Indonesia Takes Steps to Ease Licensing Process for Trade Companies

The Indonesian Ministry of Trade (“MOT”) has issued two regulations with the goal of simplifying the licensing process for companies and reducing the amount of time they must spend on such matters. MOT Regulation No. 7/M-DAG/PER/2/2017 regarding the Third Amendment to MOT Regulation No. 36/M-DAG/PER/9/2007 regarding the Issuance of Trade Business License (“MOT Reg. 7/2017″) [...]

Oil & Gas Regulation 2017

Foreign Investment and Dispute Resolution in the Indonesian Oil and Gas Sector

By Fitriana Mahiddin and Syahdan Z. Aziz Indonesia’s new Negative Investment List, as recently issued in Presidential Regulation No. 44 of 2016 regarding List of Business Fields that Are Closed and Business Fields that Are Open with Requirements in the Field of Capital Investment, stipulates the foreign shareholding limitations for various business fields. Among others, [...]

IT&Telecom

The Development of Personal Data Protection in Indonesia

By Fahrul S. Yusuf and Winnie Y. Rolindrawan After months of drafting and deliberation, Indonesia’s Ministry of Communication and Informatics (“MOCI”) in late 2016 issued a long-awaited regulation on the protection of personal data. MOCI Regulation No. 20 of 2016 regarding the Protection of Personal Data in Electronic Systems (“MOCI Reg”) was issued on December [...]

Oil & Gas Regulation 2017

Oil and Gas Transportation and Infrastructure in Indonesia

By Fitriana Mahiddin and Syahdan Z. Aziz Gas transportation by pipeline in Indonesia is regulated under Government Regulation No. 36 of 2004 regarding Upstream Oil and Natural Gas Business Activities as has been amended by Government Regulation No. 30 of 2009 (“GR 36″) and Ministry of Energy and Mineral Resources (“MEMR”) Regulation No. 19 of [...]

Michael Carl

Bauxite Mining and Alumina Refinery Investment Environment in Indonesia

Michael S. Carl, an international legal adviser at SSEK Indonesian Legal Consultants, was invited to give a presentation at the 3rd Global Bauxite Conference 2017 on the Bauxite Mining and Alumina Refinery Investment Environment in Indonesia. The conference was held June 14-15 in Jakarta. You can find his presentation materials here. Michael Carl is the [...]

Jakarta

Insurance Companies in Indonesia Must Appoint Controller

By Ira A. Eddymurthy and Maria Yudhitama Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) has issued a regulation that requires insurance companies in Indonesia to appoint a controller by June 2017 at the latest. OJK Regulation No. 67/POJK.05/2016 regarding Business Licensing and the Organization of Insurance Companies, Sharia Insurance Companies, Reinsurance Companies and [...]

Jakarta

Insurance Companies in Indonesia Must Follow Requirement on Ultimate Shareholders

By Ira A. Eddymurthy and Maria Yudhitama The Indonesian Insurance Law (Law No. 40 of 2014 regarding Insurance) introduced a significant change regarding the shareholding composition of insurance companies. Breaking from previous policy, the Insurance Law specifically mandates that the local shareholders in an insurance company must be ultimately owned by Indonesian individuals. After the [...]

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Recent Developments in Bankruptcy Law and Suspension of Debt Payments in Indonesia

By Dewi Savitri Reni and Dimas Indartono Indonesia has had a bankruptcy law since 1905, when Staatsblad 1905 No. 217 juncto Staatsblad 1906 No. 348 Concerning Bankruptcy was enacted. In response to the 1997-98 Asian financial crisis, and the view that the 1905 bankruptcy law was out of date and irrelevant to modern commercial needs, [...]

Oil & Gas Regulation 2017

Restrictions on Contractors in the Indonesian Oil and Gas Sector

By Fitriana Mahiddin and Syahdan Z. Aziz There are a number of rules for Production Sharing Contract (“PSC”) Contractors in Indonesia’s oil and gas sector, including those on the export of production, currency exchange and the transfer or disposal of development rights. Subject to obtaining requisite export approvals, a Contractor is entitled to export its [...]