13 Oct 2017
BILL ON OIL PALM: INCENTIVE PACKAGE FOR BUSINESS ACTORS
The Indonesian Government and the House of Representatives have agreed to put the Bill on Palm Oil (the “Bill”) as a priority to be enacted in 2017. The Bill has been criticized particularly by environmental activists who argue that there is no urgency for its enactment as most of the provisions are already contained in Law No. 39 of 2004 regarding Plantation (the “Plantation Law”).…
13 Oct 2017
NEW NATIONAL SPATIAL PLAN REGULATION
In an effort to harmonize the spatial planning regulations with the national strategic projects, the Indonesian government issued, on 12 April 2017, Government Regulation No. 13 of 2017 (“Regulation 13“) regarding Amendment to Government Regulation No. 26 of 2008 regarding National Spatial Plan. Notable features of Regulation 13: Consideration of the location and utilisation purposes in…
13 Oct 2017
OJK TIGHTENS ITS SUPERVISION OVER BANKRUPTCY DISCLOSURE WITH NEW SANCTIONS FOR NON-COMPLIANCE
Indonesia’s Financial Services Authority (OJK) has updated issuers and public companies’ disclosure obligations concerning bankruptcy. The regulations create a new sanctions regime for non-compliance that improves the OJK’s enforcement capacity. The changes are relevant to investors and others with an interest in Indonesia’s capital markets. They came into effect on 22 June…
13 Oct 2017
SIMPLIFIED APPLICATION PROCEDURES FOR OIL AND GAS LICENSES
To promote a more conducive investment climate, the Ministry of Energy and Natural Resources (“Ministry”) is simplifying and streamlining the procedures for the application of upstream and downstream oil and gas related licenses by way of its regulation No. 29 of 2017 concerning Licenses in the Field of Oil and Gas (“Regulation 29”). Regulation 29 came into effect one month…