28 Apr 2017
OJK’S REGULATION ON FINANCIAL TECHNOLOGY-BASED LENDING SERVICES
To support the development of technology-based financial industry in Indonesia, in December 2016, the Financial Services Authority (“OJK”) issued OJK Regulation No. 77/POJK.01/2016 regarding Technology-Based Fund-Lending Services (“POJK 77/2016”). In its press release, the OJK stated that the regulation was also designed to protect consumer and national interests while at the…
28 Apr 2017
GUIDANCE ON THE HANDLING OF CORPORATE CRIMES - SUPREME COURT REGULATION NO.13 OF 2016
The Supreme Court made a significant move which marks a new development in the Indonesian corporate criminal liability legislation, by enacting its Regulation Number 13 of 2016 regarding Manner and Procedure for the Handling of Crimes Committed by Corporations (“Regulation 13/2016”). Consisting of 37 articles, this Regulation 13/2016 is meant to provide law enforcers with guidance in handling…
28 Apr 2017
BILL ON ANTITRUST – PROPOSING AMENDMENTS TO THE CURRENT ANTITRUST LAW
The Indonesian antitrust bill (the “Bill”) is still being deliberated in the House of Representatives (DPR). The Bill was originally proposed in 2014 in the National Legislation Program (Prolegnas), a program established by the DPR and the Government as an instrument for the formation of legislation. It is unclear whether the Bill will be further amended and when or if it will finally…
28 Apr 2017
NEW CONSTRUCTION SERVICES LAW – LAW NUMBER 2 OF 2017
It took 17 years for Indonesian legislators to produce a new generation law on Construction Services. The bill, passed by the House of Representatives at the end of December 2016, became law on January 12th, 2017 and was officially announced as Law Number 2 of 2017 (“New Construction Law”). Replacing Law Number 18 of 1999 (“Old Construction Law”), the New Construction Law contains…