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In Antitrust / Competition

Indonesia: Asia Pacific Competition Highlights, Q3 2020

by 3 Mins Read

New omnibus law introduces higher administrative penalties and repeals criminal sanctions for Anti-monopoly Law violations
Competition authority issues new merger control guidelines

The Omnibus Law on Job Creation was passed on 5 October and is expected to take effect within 30 days, or sooner upon signing by the President. The Omnibus Law also amends other several provisions of the Anti-monopoly Law in relation to appeals and other penalties for Anti-monopoly Law violations. Issued on 6 October 2020, the ICC’s new merger control guidelines provide clarity on current practice and also introduce new guidance on a number of procedural and substantive issues.

This update was published on 16 October 2020 as part of our quarterly newsletter, Asia Pacific Competition Highlights. Click here to access the full report, which covers the most notable antitrust developments across 11 Asia Pacific jurisdictions.

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In AML & Financial Services Regulatory

Indonesia: Omnibus Law – Inception of Indonesia’s Sovereign Wealth Fund

by and 6 Mins Read

In brief On 5 October 2020, the Parliament approved the job creation law (RUU Cipta Kerja, commonly known as the “Omnibus Law”). As an effort to foster more investment opportunities from offshore investors into Indonesia, especially from other sovereign and private funds, the central government will establish an Indonesian sovereign…

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In Asia-Pacific

Indonesia: Omnibus Law – Inception of Indonesia’s Sovereign Wealth Fund

by and 6 Mins Read

On 5 October 2020, the Parliament approved the job creation law (RUU Cipta Kerja, commonly known as the “Omnibus Law”). As an effort to foster more investment opportunities from offshore investors into Indonesia, especially from other sovereign and private funds, the central government will establish an Indonesian sovereign wealth fund (“SWF”) under the Omnibus Law.

Indonesia’s SWF will be officially named “Lembaga Pengelola Investasi” (“LPI”) but has been widely introduced as the “Indonesia Investment Authority”. This institution should not to be confused with the existing Indonesia Investment Coordinating Board (BKPM), which is a regulator overseeing domestic and foreign capital investment in Indonesia.

In Asia-Pacific

Indonesia: Omnibus Law – Shifting of Authority and (Possible) Change of Policy – Trade Cluster

by , , , and 6 Mins Read

In brief On 5 October 2020, the Parliament approved the job creation law (RUU Cipta Kerja, commonly known as the “Omnibus Law”). The Omnibus Law amends a number of existing laws, including the following: Law No. 7 of 2014 on Trade (“Trade Law”) Law No. 39 of 2009 on Special…

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In Asia-Pacific

Indonesia: Omnibus Law – Chasing Efficiency in the Telecommunications Sector

by , and 5 Mins Read

On 5 October 2020, the Parliament approved the job creation law (RUU Cipta Kerja, commonly known as the “Omnibus Law”), which introduces key amendments to several sectors. The Omnibus Law is expected to take effect within 30 days, upon signing by the President.

The Omnibus Law intends to amend more than 75 laws, which will require the central government to issue more than 30 government regulations and other implementing regulations within three months.

This client alert covers the amendments to Law No. 36 of 1999 on Telecommunications (“Telecommunications Law”) and Law No. 32 of 2002 on Broadcasting (“Broadcasting Law”) under the Omnibus Law, which would impact telecommunications and broadcasting sectors in Indonesia.

In AML & Financial Services Regulatory

Indonesia: Omnibus Law – Impacts on the Investment Law

by , , , , and 7 Mins Read

On 5 October, the Parliament approved the job creation law (RUU Cipta Kerja) – commonly known as the “Omnibus Law”. The Omnibus Law amends a number of existing laws, including Law No. 25 of 2007 on Capital Investment (“Investment Law”). This alert will focus on the impacts of the Omnibus Law on the Investment Law.

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