Mandatory Deposit of Foreign Exchange Export Proceeds Deriving from Natural Resources

On 10 January 2019, the Indonesian Government enacted Government Regulation No. 1 of 2019 on Export Proceeds from the Exploitation, Management, and/or Processing of Natural Resources (“GR 1/2019”). The regulation is purported to maintain the continuity of development as well as the enhancement and tenacity of the national economy from foreign exchange derived from natural resource exports (Devisa Hasil Ekspor Sumber Daya Alam/ “DHE SDA”) entering the Indonesia financial system.

New Regulation on Owners and Occupants Association

On 14 September 2018 the Ministry of Public Works and Public Housing of the Republic of Indonesia introduced Regulation of the Ministry of Public Works and Public Housing of the Republic of Indonesia Number 23/PRT/M/2018 on the Owners and Occupants’ Association of Multistoried Dwelling Units (“Regulation 23”).