By Michael S. Carl and Mahareksha S. Dillon 1. Is force majeure a recognised concept and how is it defined? Yes, the concept of force majeure is recognized in the Indonesian Civil Code (the \"ICC‚Äù). However, the concept as formulated in the ICC is relatively unspecific in comparison to what is generally found in contemporary … Indonesia and COVID-19: FAQs on Force Majeure
The Indonesian Ministry of Industry plans to issue a new regulation on the calculation of local content for pharmaceutical products. This planned regulation is in response to Presidential Directive No. 6 of 2016 on the Acceleration of the Development of the Pharmaceutical and Medical Equipment Industry. That directive mandated the Ministry of Industry to implement … Indonesia to Issue Local Content Regulation for Pharmaceutical Sector
The Indonesian Financial Services Authority (OJK) announced in a press release on February 24, 2020, that it was temporarily halting any new registrations for financial technology (fintech) lending. This moratorium is to allow the OJK to improve its supervision system and to better anticipate potential issues, with the goal of improving the overall quality of … OJK Suspends New P2P Registrations
SSEK partner Rusmaini Lenggogeni looks at corporate governance in Indonesia in the latest issue of The In-House Lawyer. Rusmaini discusses corporate governance rules and requirements in Indonesia, including the Indonesian Code of Good Corporate Governance and the handling corporate documents. You can find the article here. Rusmaini is a partner of the firm and leads its … Corporate Governance in Indonesia
The Indonesian President, Joko Widodo, has announced plans for a major overhaul of investment-related laws and regulations through the introduction of a so-called Omnibus Law. This Omnibus Law would act as a regulatory umbrella, providing an overarching framework for various laws and regulations that will, hopefully, ease and increase investment in the country and reduce … Overhaul of Indonesian Employment Law – Draft Bill on Job Creation
The Indonesian legal framework for cybersecurity is varied, depending on the context of the crime. However, the main reference would be the Electronic Information Law, Government Regulation 82 regarding the Implementation of Electronic Systems and Transactions, and Minister of Communication and Informatics (MOCI) Regulation 20 regarding the Protection of Personal Data in Electronic Systems (jointly … Cybersecurity and Data Breaches in Indonesia
On October 4, 2019, the Indonesian National Police chief, Tito Karnavian, issued Head of Indonesian National Police Regulation No. 6 of 2019 regarding Criminal Investigation (“Perkapolri 6/2019“), which essentially updates how the police are expected to conduct criminal investigations. Among the many updates contained in Perkapolri 6/2019 is the introduction of “restorative justice” as a … Incorporating Restorative Justice into Criminal Investigations in Indonesia
By Denny Rahmansyah For domestic investors, Indonesian law recognizes various corporate vehicles, including those with (i) non-legal entity status, such as a (a) maatschap (civil partnership), (b) firm and (c) comanditer venootschape (limited partnership, or CV); or (ii) legal entity status, such as a limited liability company (perseroan terbatas, or PT) or co-operative. Small to … Real Estate Investment Vehicles in Indonesia
By Rusmaini Lenggogeni Shareholders, since they provide the capital for the company, shall have rights and responsibilities toward the company in accordance with the relevant laws and regulations in Indonesia and the Articles of Association (AOA) of the company. Although shareholders do not participate directly in the management or supervision of the company, they are … Corporate Governance in Indonesia – Relationship Between Companies and Shareholders
By Syahdan Z. Aziz and Michael Amos Djohan On January 6, 2020, the Indonesian Constitutional Court issued Decision No. 18/PUU-XVII/2019, declaring that Articles 15(2) and 15(3) of Law No. 42 of 1999 on Fiduciary Security (the \"Fiduciary Security Law‚Äù) are partially unconstitutional. The court was ruling on a lawsuit arguing that it was a violation … Indonesian Constitutional Court Ruling Changes Fiduciary Security Execution
