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YEARS

JAMSOSTEK COVERAGE

The Constitutional Court issued decision No. 70/PUU-IX/2011 which conditionally revokes Article 4 (1) of Law No. 3 of 1992 re Jamsostek and Article 13 (1) of Law No. 40 of 2004 regarding the National Social Security System (SJSN)

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FINANCIAL HEALTH OF INSURANCE AND REINSURANCE COMPANIES RE-REGULATED

To improve the Indonesian insurance industry and to protect insured persons from financially unhealthy insurers, the Minister of Finance (“MOF”) on 1 January 2013 issued MOF Regulation No. 53/PMK.010/2012 on the Financial Health of Insurance and Reinsurance Companies (“Regulation 53”)

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MINIMUM WAGE FOR DKI JAKARTA PROVINCE AND THE DELAY

A significant increase in the Minimum Wage in DKI Jakarta province become effective as of 1 January 2013

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LIMITATION ON FRANCHISE OUTLETS OWNERSHIP

Further to the issuance of Regulation No. 53/M-DAG.PER/8/2012 on Organizing a Franchise Business, the Ministry of Trade issued Regulation No. 68/MM-DAG/PER/10/2012 on Retail Shop Business Franchises (“Regulation No. 68”)

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NEW BANK INDONESIA REGULATION ON FOREIGN EXCHANGE DERIVED FROM EXPORT TRANSACTIONS AND OFFSHORE LOAN

On 27 December 2012, Bank Indonesia issued Bank Indonesia Regulation No. 14/25/PBI/2012 regarding Foreign Exchange Derived from Export Transactions and Offshore Loan Drawdowns (“PBI 14/25”) which revokes a previous Bank Indonesia Regulation

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