29 Jul 2020
New Rules on Importation of Complementary, Market Testing and After Sales Service Goods Fill Legal Void but Restrict Eligible Sectors
The Minister of Trade (“MOT”) recently issued Regulation No. 59 of 2020 (the “New Regulation”)[1] to amend MOT Regulation No. 118/M-DAG/PER/12/2015 on the Importation of Complementary Goods and Goods for Use in Market Testing or After-sales Service (the “Original Regulation”).[2] On the upside, the New Regulation (effective 29 June 2020) clarifies an issue that…
28 Jul 2020
Govt offers investors attractive new concession scheme for brownfield state assets
The President has issued a regulation that simultaneously holds out the prospect of attractive new opportunities for private-sector investment in existing public infrastructure and greater state funding for new infrastructure. This is the upshot of Presidential Regulation No. 32 of 2020 (“PR 32”, effective 18 February 2020),[1] which introduces the limited-concession concept[2] that allows…
22 Jul 2020
OJK Can Now Order Healthy Non-Bank Financial Institutions to Shoulder Responsibility for Distressed Peers
Following an earlier Financial Services Authority (Otoritas Jasa Keuangan / “OJK”) regulation that may be used to require compulsory consolidation in the banking sector in order to avoid potential bank collapses,[1] healthy, well-managed non-bank financial institutions (“NBFI”) may now be required by the OJK to effectively carry the can for their ailing peers through OJK-engineered…
14 Jul 2020
Indonesia’s New Mining Law Heralds Significant Change but Challenges Lie Ahead
Indonesia’s Parliament (Dewan Perwakilan Rakyat / DPR) and Government have availed themselves of the public’s preoccupation with the Covid-19 pandemic to successfully push through important new mining legislation with a minimum of publicity, thus avoiding the concerted opposition that thwarted earlier attempts to reform the sector. The new legislation (Law No. 3 of 2020 / the “New…