Proposal to Revoke Five Business Permits in Indonesia On 16th March 2016, Indonesian President Joko Widodo announced a plan to simplify enterprise licensing in Indonesia by revoking five existing enterprise permits issued on the regional level. Regulatory Developments within the Indonesian Banking Industry The Financial Services Authority has had regulatory authority over Indonesian banks, besides Bank Indonesia (“BI”), since 31st December 2013, as stipulated underneath Law No. 21 of 2011 concerning the Financial Services Authority. BI is Indonesia’s central bank and maintains jurisdiction over the monetary provide. A Look at Indonesian Bankruptcy Law Law No. 37 of 2004 regarding Bankruptcy and Suspension of Debt Payment Obligations sets forth the requirements for filing a chapter petition. The important requirement is that there should be two or extra collectors and no less than one mature but unpaid debt for a bankruptcy action to be initiated in opposition to a debtor. Indonesia Introduces …
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This legal update offers insights into the present regulatory environment and the challenges faced by builders and potential householders amid continued uncertainty. OJK Raises Corporate Governance Standards Imposed on Public Companies The Indonesian Financial Services Authority enacted a rule on the implementation of public corporations’ company governance pointers which set a new commonplace of corporate governance practice for public firms. OJK Revokes Stimulus Package for Insurance Companies and Pension Funds On 31st August 2015, the Financial Services Authority issued several circular letters as a stimulus policy package to minimise the detrimental effects of unstable international financial conditions on the insurance and pension fund enterprise sector. Indonesia’s FinTech Office and New FinTech Regulation Bank Indonesia just lately launched a FinTech Office on 14th November 2016. The office is anticipated to boost the growth of the Indonesian FinTech industry, optimise know-how developments within the sector, improve the trade’s competitiveness and provide suggestions …
Legal Updates
The Court stopped in want of determining what exactly constitutes a depart “comparable” to short-term navy go away, which dedication it left for the decrease courtroom to resolve on remand. “NO&T Thailand Legal Update” is written by Asian Thai qualified legal professionals to offer updates on legal guidelines and legal practices specializing in Thailand, mainly for companies doing business or making investment in Thailand. When important legal changes occur that have an result on Nolo books, we publish legal updates. One of our legal updates may, for example, explain the practical meaning of a newly passed federal regulation greatly limiting background checks by employers. Foreign Investment in Indonesian Real Estate Indonesia’s Agrarian Law supplies that foreigners can only acquire a proper to make use of title for land if they reside in Indonesia. This update takes inventory of the present legal framework governing overseas funding in Indonesian real property and …
Monthly Legal Updates
He asserted that because FedEx paid workers during periods of absence due to jury responsibility, sickness, and bereavement, amongst different reasons, it additionally wanted to pay employees who have been on navy leave. The District Court for the Eastern District of Pennsylvania rejected this declare, holding that paid go away was not a “right and benefit” under USERRA. This month’s update identifies recent courtroom decisions illustrating the evolving COVID-19 points and answers underneath numerous legal bases, together with however extending past IDEA and § 504. If native government recommendation in relation to the pandemic allows for group gatherings at the time of the occasion. If the event does go ahead, then to ensure that everyone can enjoy the event safely, we might be asking that all members follow the any new guidelines issued by government which may include the sporting of a masks and sustaining social distancing. If we have …
Enterprise Laws In Indonesia
In the absence of recordal, an IP license settlement is deemed to be not binding on any third celebration. New Ministry of Employment Regulation on Religious Festivity Allowance On 8th March 2016 the Minister of Employment issued Regulation No. 6 of 2016 on Religious Festivity Allowance for Employees in Companies. Indonesia’s Economic Stimulus Packages Between September 2015 and March 2016, the Indonesian central government launched eleven economic stimulus packages, which taken collectively are known as Jokowi’s Economic Package . The following is a abstract of the packages which were launched as of this text. What You Need to Know about Indonesia’s New Tax Amnesty Law The Indonesian Government recently issued the long-awaited and anticipated Tax Amnesty Law (Law No. 11 of 2016).
- Disputes related to actual estate are handled in an analogous manner as any other dispute in Indonesia.
- Indonesia’s Omnibus Law Puts Focus on Direct Use of Geothermal Resources