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Legal Breaking News |
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24 February 2004 |
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Water Resources |
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On 19 February 2004, the House of Representatives approved a
draft Law on Water Resources. The Law has caused considerable controversy, in
particular with regard to its provisions on the exploitation of water resources
by private parties More... |
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12 February 2004 |
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Banking Law |
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On 15 January 2004 the Government enacted Law No 3 of 2004 on
the Amendment to Law No 23 of 1999 on Bank Indonesia (the "Law"). Under the new
law, Bank Indonesia is required to submit quarterly and annual reports
regarding its activities to the House of Representatives ("DPR") and the
Government More... |
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12 February 2004 |
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New Law On The Settlement Of Labour
Disputes |
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On 14 January 2004, the President promulgated Law No. 2 of 2004
on the Settlement of Industrial Relations Disputes. This Law will become
effective in a year's time, on 14 January 2005 More... |
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30 December 2003 |
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Antimonopoly Law |
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On 30 December 2003, the Business Competition Supervisory
Commission (KPPU) issued two decisions against businesses for violations of the
Antimonopoly Law (No.5 of 1999) provisions on price-fixing and cartels. Below
are summaries More... |
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18 December 2003 |
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Judicial Oversight |
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On 18 December 2003, the House of Representatives passed
amendments to the 1974 Law on Judicial Power and the 1985 Law on the Supreme
Court. Details of these amendments are still emerging, but in general,
More... |
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16 December 2003 |
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Labor Law |
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On 16 December 2003, the House of Representatives passed a Law
on Industrial Dispute Settlement. Details of this new Law are still emerging,
but in general it seeks to improve the procedure for settling labour disputes.
The new law More... |
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16 December 2003 |
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Anti-Corruption |
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On 16 December 2003, the House of Representatives appointed
members of the Commission for the Eradication of Corruption ("KPK"), under Law
No. 30 of 2002 on the KPK. Pursuant to this law, the Commission will
More... |
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19 November 2003 |
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Taxation |
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Since late October 2003, the Indonesian Government has taken
two persons hostage for the non-payment of taxes. This is the first time that
the hostage-taking provisions of the tax laws have been enforced More... |
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23 October 2003 |
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Competition Law |
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On 16 October 2003, the Central Jakarta District Court revoked
the 4 August 2003 decision of the Business Competition Supervisory Commission
(KPPU) regarding the state-owned airline, Garuda Indonesia. This is the second
time that a KPPU decision has been revoked on appeal to the Court More... |
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23 October 2003 |
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Geothermal Power |
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On 23 September 2003, the House of Representatives approved a
draft Law on Geothermal exploitation. The details of the new Geothermal Law are
still emerging, however, it is intended that it will provide a sound legal
basis for investment in the geothermal power sector More... |
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15 October 2003 |
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Insurance |
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On 30 September 2003, the Minister of Finance issued six new
decrees in respect of the insurance business More... |
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15 October 2003 |
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Insurance - Fit and Proper Test for
Directors and Commissioners |
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Minister of Finance Decree No. 421/KMK.06/2003 on the Fit and
Proper Test for Directors and Commissioners of Companies in the Insurance
Business ("Decree 421") More... |
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15 October 2003 |
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Insurance |
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Minister of Finance Decree No. 426/KMK.06/2003, dated 30
September 2003 on Licensing and Institution of Insurance and Reinsurance
Companies deals with bancassurance More... |
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15 October 2003 |
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Insurance - Foreign Ownership |
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Minister of Finance Decree No. 426/KMK.06/2003, dated 30
September 2003 on Licensing and Institution of Insurance and Reinsurance
Companies clarifies that foreign shareholders to an insurance/re-insurance
company in Indonesia must be either More... |
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15 October 2003 |
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Insurance - Syariah Principle
Insurance |
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Minister of Finance Decree No. 426/KMK.06/2003, dated 30
September 2003 on Licensing and Institution of Insurance and Reinsurance
Companies provides that the Syariah principle insurance can be carried out by
way of More... |
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19 September 2003 |
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Antimonopoly |
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The Supreme Court has issued a regulation on the submission of
appeals to the decisions of the Business Competition Supervisory Commission
More... |
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19 September 2003 |
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Money Laundering |
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On 16 September 2003, the House of Representatives approved the
draft revisions to the Money Laundering Law (No. 15 of 2002) More... |
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14 August 2003 |
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Competition Law |
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On 4 August 2003, the Business Competition Supervisory
Commission ("KPPU") imposed a fine of one billion Rupiah (about US$ 125,000) on
the state-owned airline Garuda Indonesia More... |
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14 August 2003 |
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Constitutional Law |
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On 13 August 2003, the President signed the bill on the
Constitutional Court into Law. This Law implements the 1945 Constitution (as
amended) More... |
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16 July 2003 |
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Law No. 19 of 2002 on Copyrights
will be effective as of 29 July 2003 |
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As of 29 July 2003, it will be possible for law enforcement
officials to carry out inspections on local companies and stop all unauthorized
use of their computer software programs More... |
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9 June 2003 |
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Update on The Money Laundering Law |
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On 9 May 2003, the Financial Transaction Report Analysis
Centre, a local anti-money laundering watchdog, issued guidelines to assist
financial institutions in identifying money laundering transactions under
Decree No. 2/1/Kep.PPATK/2003. The Guidelines are applicable not only to bank
and non-bank financial institutions (which includes Indonesian limited
liability companies), but also to securities companies, custodian banks or
other financial institutions More... |
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4 June 2003 |
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BAPEPAM'S New Policy on Employee
Stock Option Plans |
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Under the Indonesian Capital Market Law, an "option" is
considered a security and therefore it is necessary to file a Registration
Statement with BAPEPAM if it is deemed that an option is being offered through
a public offering as defined under the Indonesian Capital Market Law
More... |
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30 April 2003 |
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Draft of the State Finance Law |
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Following a lengthy deliberation, the draft of the State
Finance Law has been passed by the House of Representatives of the Republic of
Indonesia More... |
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14 April 2003 |
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Amendment to Bank Indonesia's
Regulation on Monitoring of the Foreign Exchange Transactions of Non-Financial
Companies |
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On 31 January 2003 Bank Indonesia issued Regulation No.
5/1/PBI/2003 on the Amendment of Bank Indonesia Regulation No. 4 /2/PBI/2002 on
the Monitoring of the Foreign Exchange Transactions of Non-Financial Companies
More... |
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14 April 2003 |
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Amendment to Bank Indonesia's
Circular Letter on Reporting on the Foreign Exchange Activities of Non-Bank
Financial Institutions |
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On 30 January 2003 Bank Indonesia issued Circular Letter No.
5/1/DSM on the Amendment of Bank Indonesia's Circular Letter No. 3/14/DSM-2001
on Reporting on the Foreign Exchange Activities of Non-Bank Financial
Institutions More... |
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29 January 2003 |
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Public Offering of Debt Securities
in Non-Rupiah Denominations |
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In order to protect the interest of investors and to allow
investors in Indonesia to participate in the purchase of Non-Rupiah Denominated
Debt Securities issued by Indonesian companies, on 24 December 2002, Bapepam
enacted Rule Number IX.A.11 concerning the Public Offering of Debt Securities
in Non-Rupiah Denominations More... |
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13 January 2003 |
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Registration of Importers |
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The Minister of Finance issued Decree No. 454/KMK.04/2002, on
30 October 2002 regarding the Registration of Importers ("Decree 454").
'Importer' here means a party who carries on customs activities in the field of
imports More... |
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