Deadline Extended for the Registration of Telecommunications Service Customers
In order to push back the deadline for the mandatory registration of pre-paid telecommunications service customers, the Ministry of Communication and Information Technology has issued Regulation No. 14 of 2017, which amends Ministry Regulation No. 12 of 2016 on the Registration of Telecommunications Service Customers.
OJK Regulates Anti-Fraud Policy for Insurance Companies
The Financial Services Authority has issued Circular No. 46/SEOJK.05/2017 on Fraud Control, Implementation of Anti-Fraud Strategy and Anti-Fraud Strategy Report for Insurance Companies, Sharia Insurance Companies, Re-Insurance Companies, Sharia Re-Insurance Companies, or Sharia Units, as mandated under Article 72 (5) of OJK Regulation No. 69/POJK.5/2016 on the Business Organization of Insurance Companies, Sharia Insurance Companies, Re-Insurance Companies and Sharia Re-Insurance Companies.
New Provisions for Property Brokerage Companies
The Ministry of Trade has issued Regulation No. 51/M-DAG/PER/7/2017 on Property Brokerage Companies, with the objective of creating a fair business climate, improving the professionalism of property brokerage companies and supporting business activities in the area of property.
New Regulation on Ease-of-Access Requirement for Buildings
The Ministry of Public Works and Public Housings has issued Regulation No. 14/PRT/M/2017 on Ease-of-Access Requirements for Buildings (“Regulation 14/2017”), which will serve as a set of guidelines for building organizers as they look to ensure that their buildings and their surrounding environments are accessible by all parties in a safe and comfortable way.
Govt. Tightens Import Provisions for Iron, Steel, Alloy Steel and Their Derivative Products
The Ministry of Trade has now tightened import provisions for iron, steel, alloy steel and their derivative products through the issuance of Regulation No. 63/M-DAG/PER/8/2017, which amends Ministry Regulation No. 82/M-DAG/PER/12/2016 on Import Provisions for Iron, Steel, Alloy Steel and Their Derivative Products. This new regulation requires import specification examinations to be undertaken by trade authorities for imported products in order to obtain utilization approval. In addition to the import specification examination, the Ministry has also added a new classification for imported products which are exempt from import provisions.
New State Securities and Investment Caps for Investments by Non-Bank Financial Services Institutions
In order to expand investment-instrument options for non-bank financial services institutions, as well as to increase investment realization, the Financial Services Authority has issued Regulation No. 56/POJK.05/2017 on the Second Amendment to Financial Services Authority Regulation No. 1/POJK.05/2016 on Investment in State Securities by Non-Bank Financial Services Institutions. In essence, this new regulation adds three new types of state securities which may be allocated as investments by non-bank financial services institutions with new investment caps available.
New Provisions for the Security of Supply Chains for Air-Freight Cargo and Post Consignments
A more comprehensive set of provisions which address the security of supply chains for air-freight cargo and post consignments has now been stipulated by the Ministry of Transportation through the issuance of Regulation No. PM 53 of 2017 on the Security of Supply Chains for Air-Freight Cargo and Post Consignments. This new regulation sets out the various responsibilities of delegated parties (i.e., regulated agents, known consignors, operational airport units and/or airport companies) in order to ensure the security of air-freight cargo, and in addition also addresses post consignments, mandatory checks and control measures, certification and security tariffs.
OJK Redefines Provisions on Bank Examinations
The Financial Services Authority has issued Regulation No. 41/POJK.03/2017 on Requirements and Procedures for Bank Examinations. This new regulation effectively makes no significant alterations to any of the provisions which were originally set out under Regulation 41/2017.
Government Reregulates Utilization of Natural Gas by Power Plants
In a bid to increase the utilization of natural gas by power plants while ensuring supplies of natural gas for purchase by the electrical power sector at fair and competitive prices, the Ministry of Energy and Mineral Resources recently issued Regulation No. 45 of 2017 on the Utilization of Natural Gas by Power Plants. This new regulation addresses several provisions which pertain to the following matters: 1) Natural-gas supplies for power plants; 2) Natural-gas pricing; 3) Natural-gas distribution tariffs; 4) Natural-gas sale-and-purchase agreements; 5) Natural-gas allocation periods; and 6) The development of power plants which utilize natural gas in their wellheads.
OJK Regulates Implementation of Commercial Bank Compliance
To minimize the risks inherent to commercial banking business in both a preventative and curative manner, the Financial Services Authority has issued Regulation No. 46/POJK.03/2017 on the Implementation of Commercial Bank Compliance. This new regulation makes a minor alteration to the provisions which were originally set out under Bank Indonesia Regulation No. 13/2/PBI/2011 on the same matte. Essentially, this regulation addresses several matters, including: 1) Compliance function; 2) Director of compliance; and 3) Sanctions.