Indonesian Legal Brief

BI Issues New Regulation on Electronic Money
Bank Indonesia has finally issued its long-awaited regulation on electronic money, specifically Regulation of BI No. 20/6/PBI/2018 on Electronic Money.
Govt. Amends Provisions on Central Bonded Logistics Facilities
With the objective of bolstering national industry and investment, as well as supporting e-commerce trade activities, the Minister of Finance has issued Regulation of the Minister No. 28/PMK.04/2018, which amends Regulation of the Minister No. 272/PMK.04/2015 on Centrally Bonded Logistics Facilities.
Technical Provisions for the Bank Indonesia - Scripless Securities Settlement System
Bank Indonesia recently updated its integrated system for the administration of securities via the BI - Scripless Securities Settlement System through the issuance of Regulation of the Board of Governors of Bank Indonesia No. 20/4/PADG/2018 on the Organization of the Administration of Securities through the Bank Indonesia - Scripless Securities Settlement System
Tin Export Provisions Re-Amended
In bid to further increase the effectiveness of Indonesian tin exports, the Minister of Trade issued Regulation No. 53 of 2018 which amends Regulation of the Minister No. 44/M – DAG/PER/7/2014 on Export Provisions for Tin for a second time.
Foreign Ownership of Insurance Companies Finally Regulated
The Government has finally issued Regulation No. 14 of 2018 on the Foreign Ownership of Insurance Companies, as an implementation Article 7 (3) of Law No. 40 of 2014 on Insurance.
Joint Inspections of Production-Sharing Contracts with Cost-Recovery Schemes for the Upstream Oil-and-Gas Business Sector
The Minister of Finance has issued Regulation No. 34/PMK.03/2018 on Guidelines for the Implementation of Joint Inspections of Cooperation Contracts in the Form of Production-Sharing Contracts with Cost Recovery Schemes for the Upstream Oil-and-Gas Business Sector. The goal of this regulation is to increase the effectiveness of inspections of cooperation contracts in the form of production-sharing contracts with cost-recovery schemes.
Issuance of Official Translations of Laws and Regulations to Government Parties
The Minister of Law and Human Rights has issued Regulation No. 13 of 2018 on Official Translations of Laws and Regulations in a bid to accommodate the need for official English translations of laws and regulations so as to support both the government's strategic plans as well as the requirements of businesses and industry.
OJK Regulates Secondary Housing Financing Company
In a bid to meet the need for decent housing for Indonesian citizens through the optimization of funding facilities via the secondary housing market, the Financial Services Authority has issued Regulation No. 4/POJK.05/2018 on the Secondary Housing Financing Company, which is aiming to develop as well as to regulate the Secondary Housing Financing Company.
Legal Service Fees for the Establishment of Limited-Liability Companies by UMKM Updated
With the ultimate objective of increasing Indonesia's ease-of-doing-business ranking, the Ministry of Law and Human Rights has now updated the costs involved in the establishment of limited-liability companies by micro-, small- and medium-scale enterprises through the issuance of Regulation of the Ministry No. 8 of 2018 on Legal Service Fees for the Establishment of Limited-Liability Companies by Micro-, Small- and Medium-Scale Enterprises.
Customs-and-Excise Licensing Procedures Simplified for Ease-of-Doing-Business Purposes
As a follow-up to Regulation of the President No. 91 of 2017 on the Acceleration of Business Operations, the Ministry of Finance has issued Regulation No. 29/PMK.04/2018 on the Acceleration of Customs-and-Excise Licensing for Ease-of-Doing-Business Purposes.
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