October 6, 2017

NEW REGULATION ON BUYBACK OF SHARES OF PUBLIC COMPANY

The Financial Service Authority or Otoritas Jasa Keuangn hereinafter called OJK, has recently issued regulation number 30/POJK.04/2017 (POJK 30/2017) on Buybacks of Shares of Public Companies. The new regulation was issued to implement Law Number 21 of 2011 on the establishment of Financial Service Authority, in which the functions, duties and authorities with regard to …


September 8, 2017

Qualification For Foreign Construction Services In Indonesia

A.    LEGAL BASIS For specific regulation governing the foreign construction services in Indonesia, the government has issued the Minister of Public Works Regulation number 10/PRT/M/2014 on Guidelines on Granting Permits for Foreign Construction Services Business Entity Representatives (MPWR Regulation 10/2014).    B.    REQUIREMENT FOR FOREIGN CONSTRUCTION SERVICES BUSINESS COMPANY The development of the …


September 7, 2017

Minister Of Energy And Mineral Resources Regulates The Supervision Of Businesses In The Energy And Minerals Sectors

In July   2017, the Minister of Energy and Mineral Resources (“MEMR”) decided to issue the MEMR Regulation Number 42 Year 2017 (“MEMR Reg. 42/2017″) which regulated the Supervision within the Energy and Mineral Resources Business Sector. The MEMR Reg. 42/2017 stipulated that any transfers of participating interests and/or shares in upstream oil and gas …


Minister of Energy and Mineral Resources Regulation Number 48 of 2017 Regarding Supervision of Business Activities in the Energy and Mineral Resources Sector

Indonesian Minister of Energy and Mineral Resources (“MEMR”) has recently issued Regulation number 48 of 2017 on Supervision of Business Activities in the Energy and Mineral Resources Sector on 3′ of August 2017 (“MEMR 48/2007″), replacing the previous MEMR regulation number 42 of 2007 (“MEMR 42/2007″). MEMR   Regulation      48/2017   regulates   Government’s   supervision   on   the   …


Key Points of Differences Between the Regulation of Minister of Energy and Mineral Resources Number 50 of 2017 and Number 12 of 2017

Recently Minister of Energy and Mineral Resources issued Regulation number 12/2017 on the Utilization of Renewable Energy Sources for Electric Supply called “MEMR Regulation 12/2017″. The regulation sets a reference tariff for all renewable energy technologies which include the solar PV (photovoltaic), wind, biomass, biogas, municipal waste, hydro and geothermal industry. The main focus of …