KPPU, the Indonesian competition authority, issued 15 decisions this year, a decline from 23 decisions in 2021. Late merger filing cases still account for the majority of decisions, followed by small and micro enterprises partnership cases. The increasing number of SME partnership cases suggests closer scrutiny by KPPU of partnerships between big and medium corporations and SMEs, which is in line with KPPU’s priorities as the pandemic subsides.
On 15 December 2022, the House of Representatives passed the draft omnibus law on the financial sector which is referred to as the “Financial Sector Development and Reinforcement (Pengembangan dan Penguatan Sektor Keuangan) Law” (“P2SK Law”). The draft law is currently under an enactment process with its effective date to be further announced. The P2SK Law, among other things, stipulates the reconfiguration of supervisory powers among the different regulators over a number of sectors (including the financial technology and digital financial assets sectors) that had been overlapping and led to regulatory gaps.
This client alert discusses the new Indonesian criminal code, which in a few years will replace the existing criminal code. This alert outlines the key features of the new criminal code, and is the first of a series of client alerts on the new Indonesian criminal code.
On 16 December 2022, the Competition and Consumer Commission of Singapore commenced proceedings in the State Courts against a retailer that sells alkaline water systems and its director. In particular, the CCCS applied for the court to make findings that the retailer engaged in unfair trading practices and to issue an injunction to restrain the retailer and its director from continuing such unfair trading practices.
Following the Energy Ministers’ meeting on 8 December 2022 and the National Cabinet meeting on 9 December 2022, the Australian Commonwealth government announced that a new Capacity Investment Scheme (CIS) will be established, alongside other measures in the Energy Price Relief Plan.
The CIS is aimed at unlocking approximately AUD 10 billion in private and public sector investment in new clean dispatchable storage and generation to ensure reliability and security in Australia’s energy market, as well as affordable electricity supply and reduce Australia’s exposure to high coal and gas prices over the medium and long term.
The Malaysian Personal Data Protection Department has just published a questionnaire on Data Protection Officer (DPO) to gather market feedback on the role and qualification of a DPO in Malaysia . The deadline to respond to the Survey is 21 December 2022.
The Minister of Health issued MOH Regulation No. 24 of 2022 on Medical Records, which revokes MOH Regulation No. 269/MENKES/PER/III/2008, on the same topic on 31 August this year. The promulgation of MOH Regulation 24 underlines the digital transformation in Indonesia’s healthcare sector, as the regulation sets out detailed provisions on implementing the new electronic medical records provisions for healthcare facilities. The regulation aims to serve as a new legal framework for digital-based and integrated medical records.
Malaysia recently launched the Corporate Green Power Programme (CGPP), a renewable energy initiative that allows corporate consumers to virtually purchase solar energy from solar developers. This is achieved through the use of virtual power purchase agreements, or Corporate Green Power Agreement. This alert explains the mechanism of CGPP and sets out the potential investment opportunities and benefits to corporate consumers, particularly those with plants and factories that have high energy usage.
Baker McKenzie’s Sanctions Blog published the alert titled G7 Sets Price Cap for Russian Oil at USD 60 Per Barrel on 9 December 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
A new Commonwealth Bill will modernize business communications by amending the Corporations Act to allow all documents under the Act to be signed electronically and most documents to be sent electronically. This is a welcome development building upon gradual progress in this area since mid‑2020. The Bill is expected to pass early next year.