BRIEF NOTE ON THE CURRENCY LAW (LAW NO.7 OF 2011) (25/07/2011)
On 31 May 2011 the Indonesian People’s Representative Council (parliament) passed the Currency Law (the “Law”). The Law became effective when it was signed by the President on 28 June 2011.
This note briefly describes some of the main features of the Law, some of which appear to ...
NEW RULES ON PUBLIC COMPANY TAKEOVERS (25/07/2011)
Through his Decree No. KEP-264/BL/2011, the Chairman of the Indonesian Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) has recently revised Rule Number IX.H.1 on Takeovers of Publicly Listed Companies.
The definition of ‘takeover’, the procedures and ...
NEW TAX AUDIT PROCEDURES (25/07/2011)
The Ministry of Finance has revised its Regulation No.199/PMK.03/2007 (“PMK-199”) on Tax Audit Procedures by issuing Regulation No.82/PMK/03/2011 (“PMK-82”).
PMK-82 offers clarifications of several provisions of PMK-199. The main changes it brought are the following:
Tax ...
BAPEPAM-LK REGULATION REGARDING VOLUNTARY TENDER OFFERS (25/07/2011)
On the day that it issued its new rule on public company takeovers (Rule IX.H.1, which is also in this July newsletter), the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) also issued Rule IX.F.1 regarding Voluntary Takeovers (“Rule IX.F.1”). The subject ...
SUPERVISION OF NON BANKS' FOREIGN EXCHANGE ACTIVITIES (25/07/2011)
Bank Indonesia addresses the need to constantly improve the country’s monetary, banking and payment systems by issuing, on 23 June 2011 its Regulation No. 13/15/PBI/2011 regarding Monitoring of Non-Bank Institutions’ Foreign Exchange Activities (the “Regulation”).
The ...
