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.
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”).
To date, the Indonesian government and institutions have largely remained entrenched in an endemic culture of corruption. Despite major victories before the court by the Corruption Eradication Commission (“KPK”) in recent years, crimes of corruption (especially bribery and gratification) remain a major problem at every level of government institution.
The Financial Services Authority (“OJK”) issued OJK Regulation No. 37/POJK.04/2018, on 31 December 2018 on equity crowdfunding services (the “Crowdfunding Services”) which allow offers of shares for sale by an issuer directly to investors through an open information technology system (“POJK 37/2018”).
Under Government Regulation Number 57 of 2010 and Indonesian Competition Authority (KPPU) Guidelines Number 02 of 2013, find out the criteria for determining whether a foreign merger conducted outside Indonesia is reportable under the current Indonesian merger control rule.