Legal Update On The New Funding
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New OJK Rule on Public Accountants and Public Accountant Offices The issuance of this new rule has an impression on the engagement of exterior auditors by publicly-listed firms provided that public corporations are one of the subjects being regulated and supervised by OJK. 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 a long-awaited regulation on the safety of private knowledge. Data Categorization for Electronic System Operators Providing Public Services The MOCI has issued a draft amendment to Government Regulation No. 82 of 2012 which requires electronic system operators offering public providers to have onshore information facilities and disaster recovery facilities. Expanded Coverage and New Feed-in Tariff for Indonesia’s Waste to Energy Projects The government lately issued Presidential Regulation No. 35 of 2018 on the acceleration of development of waste to energy tasks. Franchise Agreements in Indonesia A franchise, beneath Indonesian regulations, is defined as a special right owned by a person or a legal entity to a novel enterprise system that has proven profitable in promoting goods and/or companies, and can be utilized by one other get together primarily based on a Franchise Agreement. Employee Data Privacy in Indonesia The Indonesian Minister of Communication and Informatics comparatively just lately issued MOCI Regulation No. 20 of 2016 regarding the Protection of Personal Data in Electronic Systems , which stipulates the protections afforded to private knowledge saved in an digital system.
New Government Regulation on Foreign Ownership within the Insurance Sector The government issued new Government Regulation No. 14 of 2018 on Foreign Ownership Limitation in Insurance which supersedes and replaces previous government regulation within the insurance coverage sector. “NO&T Thailand Legal Update” is written by Asian Thai certified legal professionals to offer updates on legal guidelines and legal practices focusing on Thailand, primarily for corporations doing business or making investment in Thailand. The contents of Law Update usually are not intended to be an different alternative to specific legal advice on any particular person matters.
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ESDM Regulation 42 and Oil and Gas Companies On 14th July 2017, the Minister of Energy and Mineral Resources published Regulation No. forty two of 2017 (Reg. 42). forty two apply to upstream and downstream oil and fuel firms, IUPTL holders and IPB holders. Indonesia Launches New Economic Policy Package On 31st August 2017, President Joko Widodo enacted the 16th financial coverage package, which goals to enhance the convenience of doing business in Indonesia by providing measures to speed up issuance of enterprise licenses and permits on the central and regional ranges. Data Protection in Indonesia’s Financial Services Sector Minister of Communication and Informatics Regulation No.20 of 2016 strengthens the obligations to protect the personal and monetary information of consumers by providers of electronic techniques. New Regulation on Criteria and Drug Registration Procedure BPOM Regulation No. 24 of 2017 replaces earlier BPOM rules in setting out the latest procedure for drug registration. New Regulation on Marketing Authorization for Medical Devices and Supplies The Minister of Health issued Regulation No. sixty two of 2017 on Marketing Authorization for Medical Devices and Supplies to harmonize Indonesian laws with ASEAN and international laws on medical gadgets.
A Closer Look at Indonesia’s Condominium Law Indonesia enacted a brand new Condominium Law in 2011 which changed Law No. 16 of 1985 but has not yet been formally applied. This legal update supplies insights into the present regulatory surroundings and the challenges confronted by developers and prospective owners amid continued uncertainty. Amendment to Regulation on the Utilization of Foreign Manpower Indonesia’s Ministry of Manpower has issued Regulation No. 35 of 2015, which serves as an amendment to Regulation No. 16 of 2015 on the Procedure for the Utilization of Foreign Manpower, and brings about adjustments lined on this legal update. Foreign Investment Restrictions Restrictions on international shareholders in Indonesia are set out in the Negative Investment List contained in Presidential Regulation No. 39 of 2014 outlining the list of business fields that are closed and enterprise fields that are open with requirements for investment. Indonesian Regulatory Framework for Real Estate Investment Funds In late 2015, the Indonesian Minister of Finance issued a regulation to encourage the expansion of real property investment funding in the form of Collective Investment Contracts.
This multijurisdiction deal was a serious international acquisition for an Indonesian shopper products company in a year that has been roiled by COVID-19. Register to access unique content material, signal up to obtain our updates and personalise your expertise on brownejacobson.com. Our personal strategy, technical expertise, native information and world network enable us to deliver an expertise that other skilled service suppliers find onerous to match. Our individuals are specialists of legislation; progressive thinkers, in tune with financial, political and market conditions, pushed to assist to provide the clear industrial recommendation you should achieve enterprise success. Please click right here to examine how we process your information in compliance with the General Data Protection Regulation . [newline]Journal Self-citation is defined as the variety of quotation from a journal citing article to articles published by the identical journal. This indicator counts the variety of citations received by paperwork from a journal and divides them by the entire number of documents printed in that journal.
- OJK Revokes Stimulus Package for Insurance Companies and Pension Funds On 31st August 2015, the Financial Services Authority issued several circular letters as a stimulus policy bundle to minimise the detrimental effects of unstable world financial conditions on the insurance coverage and pension fund business sector.
- Indonesian Omnibus Bill – Changes to the Halal Products Law The Indonesian House of Representatives recently handed the Omnibus Bill on Job Creation (the “Omnibus Bill”).
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- New Guidelines on the Advertising of Drugs The Food and Drugs Supervisory Agency has issued Decision No.eight setting out the guidelines on the advertising of prescription and non-prescription medication.