05 Mar 2013
MINISTER OF TRADE REGULATION LIMITS THE NUMBER OF RETAIL SHOPS FOR FRANCHISORS AND FRANCHISEES
The Minister of Trade (“Minister”) has issued Regulation No. 68/M-DAG/PER/10/2012 on Modern Retail Shop Franchising, which limits the number of company owned outlets to 150. The Regulation categorizes retail outlets into company owned outlets and franchised outlets, and limits the number of outlets that can be directly owned by a franchisor and a franchisee to 150. If a franchisor and…
05 Mar 2013
PROCEDURE FOR OBJECTION ON SANCTION IN CAPITAL MARKET
The Head of the Capital Market and Financial Institution Supervisory Agency (“Bapepam-LK”) issued, on 5 December 2012, her Decision No. KEP-642/BL/2012 regarding Submission of Objection to Sanctions (“Decree”). The rules and procedures for the submission of the objections are elaborated in Regulation No. XIV.B.2 on the same subject matter (the “Regulation”) which…
05 Mar 2013
GUIDELINES FOR THE COMPOSITION OF ENVIRONMENTAL DOCUMENTS
The State Minister for the Environment has issued a new regulation regarding how the Environmental Documents being the prerequisites for a company’s environmental license are to be composed. The regulation is Regulation of the State Minister for the Environment No. 16 of 2012 on Guidelines for the Composition of Environmental Documents (the “Regulation”), and is the implementing…
05 Mar 2013
GUIDELINES FOR PUBLIC INVOLVEMENT IN THE PROCESS OF ENVIRONMENTAL IMPACT ASSESSMENT
The State Minister for the Environment has issued guidelines for the involvement of the public in the environmental impact assessment (known by its Indonesian acronym as “AMDAL”) process and in the issuance process of environmental licenses. The guidelines are set forth in the Minister’s Regulation No. 17/2012 (the “Regulation”), which is the implementation regulation…
05 Mar 2013
REGULATION ON BANK'S TRANSPARANCY AND PUBLICATION OF BANK'S REPORTS
With the current development of banking products and activities in Indonesia, the demand for transparency of the financial condition and performance of a bank is increasing. Banks are expected to disclose their risk exposures as well as their risk management practices, so that the public and the relevant market can better assess their products and performance. Bank Indonesia addresses the demand by…
05 Mar 2013
REGULATION ON GOOD CORPORATE GOVERNANCE FOR INSURANCE COMPANIES
The Minister of Finance issued, on 3 October 2012, Regulation No. 152/PMK.010/2012 regarding Good Corporate Governance for Insurance Companies (“MOF Regulation”). This Regulation is the implementing regulation for Government Regulation No. 73 of 1992 which has been severally amended, lastly by Government Regulation No. 81 of 2008 on Insurance Business. The MOF Regulation applies to insurance…