“The Financial Services Authority (“OJK”) organizes the regulatory sandbox mechanism to ensure the business model includes its legal compliances and financial aspects meet the Digital Finance Innovation criteria as stipulated in the Financial Services Authority Regulation No. 13/POJK.02/2018 concerning Digital Finance Innovation. ” The development of Information and Technology has had a significant impact, especially […]
“Amendments to the Articles of Association must be stipulated in the General Meeting of Shareholder (“GMS”) and made in the form of a notarial deed in Indonesian. Further, the amendment shall obtain approval or acknowledgement from the Minister of Law and Human Rights, depending on type of the agenda as stated in Law 40/2007.” Based […]
“Indonesia’s policy of managing the supply of electricity ensures the availability of electricity in sufficient quantities, of good quality, and at reasonable prices in the context of increasing the welfare and prosperity of the people in a fair and equitable manner and realizing sustainable development, and how the private sector can participate in this matter.” […]
“The Company is required to form the Task Unit for the preventing and handling of Sexual Violence in the Workplace. For Companies that have Bipartite Cooperation (“Bipartite CI”), the Task Unit is a part of Bipartite CI. Further, for the Company that do not yet have a Bipartite CI, a Task Unit can be determined […]
“Mediation process should conduct by the agreement of both parties, and if the agreement has been reached, it is final and binding for both parties to be carried out with good faith.” In general, mediation is a part of Alternative Dispute Resolution (“ADR”) which divided into 2 (two) types namely mediation inside the court and […]
“The business field of Commercial Web Platforms in its classification includes various website operations with profit purposes but does not include financial technology.” The Commercial Web Platform is regulated in Government Regulation Number 5 of 2021 concerning Implementation of Risk-Based Business Licensing (“PP 5/2021”). The scope of the commercial web platform is divided into general […]
“The aspect of control in Remittance Service Company activities it must be held by domestic shareholder.” Under Article 2 letter Bank Indonesia (“BI”) Regulation No. 23/6/PBI/2021 of 2021 on PJP (“BI Reg 23/2021”), Remittance Service is included within the scope of PJP. PJP itself is defined as Banks or Non-Bank Institutions that provide services to […]
“ Although Company Law does not define the definition of Minority Shareholders, however in practice, Minority Shareholders are Shareholders who do not own a large number of shares in a Limited Liability Company.” Shareholders are one of the main elements in a Limited Liability Company. Shareholders have rights, obligations and interests that are protected in […]
“In establishing PT PMA, the minimum capital and paid-up capital is IDR 10 billion excluding land and office buildings. PMA can only perform business activities on a large business scale. Meanwhile, Representative Offices are not limited by investment value and capital like PT PMA. In implementing its duties and functions, a representative office cannot exceed […]
Investment Activity Report (LKPM) is an obligation for every business actor. Reporting on investment activities is divided based on the scale of the business which is every 6 months for small business actors, every 3 months for medium and large business actors. Reporting on this activity is excluded for micro business actors, companies in the […]
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