INDONESIA NEGATIVE INVESTMENT LIST 2016 (INDONESIA - ENGLISH)
Following our previous advisories. Please download our unofficial translation of the Regulation of the President of Republic of Indonesia No. 44 of 2016.
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CONSTITUTIONAL COURT DECISION ON FIXED TERM EMPLOYMENT CONTRACTS UNDER OUTSOURCING
The Constitutional Court in Decision No. 27/PUU-IX/2011 (“Decision”) declared articles 65(7) and 66(2)(b) of Law No. 13 of 2003 (“Manpower Law“) conditionally unconstitutional where fixed-term employment contracts used in outsourcing arrangements do not provide a clause protecting the rights of existing workers when the principal company (work provider) switches outsourcing company or labour provider but the same work continues.
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MANDATORY USE OF L/C FOR EXPORTING MINING AND ENERGY PRODUCTS
On 5 January 2015, the Minister of Trade issued Regulation No. 4/M-DAG/PER/1/2015 of 2015 on Provisions to Use a Letter of Credit for Exporting Certain Commodities (“MOT Regulation 4”)
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REGULATION ON COMMERCIAL BANK OWNERSHIP IN INDONESIA FINALLY ISSUED
After lengthy discussions among regulators and politicians on ownership of commercial banks, Bank Indonesia issued its Regulation No. 14/8/PBI/2012 regarding Ownership of Shares in Commercial Banks (“BI Regulation No. 14”) which came into effect on 13 July 2012.
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NEW INSURANCE BILL PASSED
The Insurance Bill (Insurance Bill) was passed by the House of Representatives on 23 September 2014.
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