30 Sep 2020
Deadline for Normalization of Immigration Status Extended from Sept. 20 to Oct. 5
The Immigration Service has further extended the deadline for the normalization of immigration status for foreigners who find themselves in Indonesia on Emergency Stay Permits (Izin Tinggal Keadaan Terpaksa / ITKT). The latest extension, from the original deadline of Sept 20 to Oct. 5 now, has been granted in recognition of the continuing obstacles people face in regularizing their status due to the…
23 Sep 2020
Indonesia’s FSA Tightens Rules on Affiliate and Conflict-of-Interest Transactions for Listed Companies
The Indonesian Financial Services Authority (Otoritas Jasa Keuangan / “OJK”) has issued a new regulation on transactions involving affiliates (“Affiliate Transaction”) and conflicts of interest (“COI”). The new regulation (OJK Regulation Number 42/POJK.04/2020 / “Reg. 42”),[1] which revokes and supersedes Capital Markets and Financial Institutions Supervisory…
14 Sep 2020
Jakarta Hits COVID-19 Brakes as Capital Placed under Partial Lockdown Once Again
With the number of COVID-19 cases soaring and intensive-care beds becoming scarcer in Jakarta, the region’s governor, Mr. Anies Baswedan, has issued Jakarta Gubernatorial Regulation No. 88 of 2020 (“Reg. 88”),[1] which reinstates a partial lockdown in the national capital. The previous partial lockdown (introduced in April 2020) was relaxed on June 5. The new arrangements, known…
10 Sep 2020
Indonesian Intellectual Property Law: New Regulation Updates Rules on Patent Transfers
The Government has issued an important and long-awaited ancillary / implementing regulation for the 2016 Patent Law.[1] The new regulation, Government Regulation No. 46 of 2020 ("GR 46"),[2] sets out revised requirements and procedures for the registration of patent transfers and revokes the previous regulation on the same topic, namely, Presidential Regulation No. 37 of 2010 (the “Previous…
08 Sep 2020
Government Underwrites Working-capital Loans to Keep Economic Wheels Turning
The Minister of Finance (“MoF”)has issued Regulation No. 98/PMK.08/2020 to establish a government-guarantee scheme for working capital loans extended by the banking sector to large-scale businesses (“Reg. 98”).[1] The scheme is to be operated by Indonesia Eximbank, which will provide the loan guarantees, while PT Penjaminan Infrastruktur Indonesia (PII) will step in to provide…
04 Sep 2020
Capital Markets: Indonesia’s FSA Tightens Material-transaction Rules for Public Companies
The Indonesian Financial Services Authority (Otoritas Jasa Keuangan / “OJK”) has issued a new regulation that tightens the rules on material transactions and shareholder-approval requirements in public companies, while at the same time providing some leeway for those in the financial-services sector in certain circumstances. The new rules are set out in OJK Regulation No. 17/POJK.04/2020…