In Indonesia, the size, composition and procedures for the appointment, replacement and dismissal of the board of directors (BOD) and board of commissioners (BOC) are determined in the articles of association (AOA) of the company. Law No. 40 of 2007 regarding Limited Liability Companies (the Company Law) only stipulates a minimum number of BOD and … Corporate Governance in Indonesia – Board Size and Composition
Restrictions on foreign shareholders are set out in the Negative Investment List (Daftar Negative Investasi or DNI), as contained in Presidential Regulation No. 44 of 2016 dated 18 May 2016 regarding List of Business Fields That Are Closed and Business Fields That Are Open With Requirements for Capital Investment (PR 44/2016). PR 44/2016 lists areas … Establishing a Business in Indonesia – Foreign Investment Restrictions
(18 December 2020) Media reports indicate that it is likely a new Government Regulation (\"GR‚Äù) on the calculation of termination pay in Indonesia will be issued as early as February 2021. An official draft of the GR has been circulated by the Coordinating Minister for Economic Affairs. Similar to Article 151 of the recently enacted … Indonesian Employment Law Update: New Draft Government Regulation on Termination Benefits
There is no specific rule in Indonesia that governs online advertising activities. Considering that online advertising is part of an electronic transaction, such advertising is subject to the provisions of Law No. 11 of 2008 on Electronic Information and Transactions (the ITE Law), Government Regulation No. 71 of 2019 on the Implementation of Electronic Systems … E-commerce in Indonesia – Advertising
Most private parties engaging in mining business activities in Indonesia do so in the form of a limited liability company. In respect of foreign investment, Law 25/2007 requires a joint venture company to be established in the form of a limited liability company. Local Entity Requirements A foreign investment company carrying out mining exploration activities … Mining in Indonesia – Business Structures
(11 December 2020) The Indonesian Government recently passed Law No. 11 of 2020 regarding Job Creation (the \"Omnibus Law‚Äù). The stated aim of the Omnibus Law is to bolster investment and create jobs by streamlining regulations and simplifying the licensing process to improve the ease of doing business in Indonesia. The Omnibus Law, among other … Indonesia Omnibus Law and the Impact on Tax Laws
The principal law governing data protection in Indonesia is Law No. 11 of 2008 regarding Electronic Information and Transactions, as amended by Law No. 19 of 2016 (“Electronic Information Law“). In addition to the Electronic Information Law, rules governing personal data protection are also found in Government Regulation No. 71 of 2019 regarding the Implementation … Indonesia Data Protection Laws and Regulations – Processing Personal Data
Shareholder activism is not a defined term, nor is it recognized under any laws in Indonesia. The Indonesian Company Law, however, does provide minority shareholders with certain rights. These rights give them the ability to initiate certain actions that are essentially intended to protect them against potential losses that might be caused by a company’s … Corporate M&A in Indonesia – Activism
The predominant board structure in Indonesia is best categorized as two-tier. The first tier is the board of directors (BOD), which acts as an executive to the company and is responsible for its day-to-day operation (article 92(1) of Law No. 40 of 2007 regarding Limited Liability Companies (the Company Law). The second tier is the … Corporate Governance in Indonesia – Responsibilities of the Board
Indonesia’s closely watched omnibus bill on job creation was ratified by Indonesian President Joko Widodo as the Job Creation Law on November 2, 2020 and came into force on that date. The stated aim of the Job Creation Law is to bolster investment and create jobs by streamlining regulations and simplifying the licensing process to … Omnibus Job Creation Law – Changes to Indonesian Employment Laws
