With international coal sales prices rising, Indonesia’s Minister of Energy and Mineral Resources (“MEMR“) has taken a step to try and control the supply of coal for domestic power producers. The MEMR has enacted MEMR Decree No. 1395 K/30/MEM/2018 dated March 9, 2018 regarding Coal Sales Price for Power Generation for the Public Interest, as … Coal Prices for Domestic Power Producers in Indonesia
The Indonesian Supreme Court in December issued Circular Letter No. 1 Year 2017 regarding the Implementation of the 2017 Supreme Court Meeting as a Guideline for the Role of Indonesian Courts (“SEMA No. 1”). SEMA No. 1 is a 41-page document that contains new policies to be applied by courts in Indonesia when handling criminal, … Foreign Employees and Termination Benefits in Indonesia
Legal entities in Indonesia are now required to declare the identity of beneficial owners and provide information on their beneficial ownership, following the recent enactment of Presidential Regulation No. 13 of 2018 regarding the Implementation of the Principle on Recognizing Beneficial Ownership of Corporations in the Framework of the Prevention and Eradication of Money Laundering … Mandatory Disclosure of Beneficial Owners in Indonesia
Indonesia’s Minister of Energy and Mineral Resources (“MEMR“), after a long wait, has regulated abandonment and site restoration (“ASR“) activities, or post-operation activities, for the upstream oil and gas sector. MEMR Regulation No. 15 of 2018 regarding Post-Operation Activities in Upstream Oil and Gas Business Activities (“MEMR Reg. 15/2018“) came into effect on February 23, … MEMR Imposes New Abandonment and Site Restoration Obligations for Indonesian Upstream Oil and Gas Activities
Virtual currency, or cryptocurrency, has made its way to Indonesia and government agencies are working to regulate its use. But as Bitcoin, Ripple, Peercoin and other virtual currencies increasingly attract the interest of Indonesians for all kinds of reasons, there is no regulation in Indonesia that deals specifically with virtual currency, a gap regulators hope … Virtual Currency Is Here, So How Is Indonesia Going to Regulate It?
The Government of Indonesia (“GOI”) first regulated Gross Split Production Sharing Contracts (“Gross Split PSC”) in early 2017, with the enactment of Minister of Energy and Mineral Resources (“MEMR”) Regulation Number 8 of 2017 regarding Gross Split Production Sharing Contracts, as amended by MEMR Regulation Number 52 of 2017 regarding the Amendment of MEMR Regulation … Tax Treatment for Gross Split Production Sharing Contracts in Indonesian Oil and Gas Sector
An electronic system provider (ESP) in Indonesia must maintain the correctness, validity, confidentiality, accuracy, relevance and compatibility with the purpose of the acquisition, collection, processing, analysis, retention, display, publication, transmission, dissemination and destruction of personal data. Additionally, an ESP must also carry out certification of its electronic system to ensure it is in accordance with … Personal Data and Security Requirements in Indonesia
By Dicky Tanjung Employers in Indonesia were previously afforded the right to include in their employment contracts, company regulations or collective labor agreements a provision giving the employer the right to terminate an employee having a marital bond and/or a blood relationship with another employee in the same company. It is understandable that employers might … Indonesian Employment Law Update: Employers Can No Longer Terminate Employees Who Are Married to Each Other
There are several main obligations that must be fulfilled by an electronic system provider (ESP) in Indonesia under Minister of Communication and Informatics Regulation No. 20 of 2016 regarding Personal Data Protection in Electronic Systems (MOCI Regulation 20) to ensure that personal data is processed properly. These obligations include: Conducting certification of the electronic … Data Protection Rules and Principles in Indonesia
Indonesia’s central bank has for the first time issued a regulation designed to deal with financial technology (“fintech”) in general. Bank Indonesia (“BI”) Regulation Number 19/12/PBI/2017 regarding the Provision of Financial Technology, dated November 30, 2017 (“Reg. 19/2017”), was made public by BI on December 7. The stated aim of Reg. 19/2017 is to regulate … Indonesian Central Bank Regulates Financial Technology
