The Draft Bill on Trade covers ten main issues in all aspects of
trading which are currently under separate regulations, ie domestic
trade, micro-small-medium business empowerment, products and
services standardization, international trade, export improvement,
trade protection, international trade cooperation, trading in
border areas, electronic trading, and trading supervision.
There are four ways of distributing goods/services in domestic
trade: general trading, franchising, direct sales and other
The draft bill includes general articles on increasing the use
of local products in order to strengthen local businesses. It also
emphasizes the requirement that all goods/services traded must meet
the Indonesian National Standards (Standar Nasional Indonesia
The bill also covers cross border trading (perdagangan
perbatasan) which only applies to ground based cross border trading
and is subject to bilateral agreements with the respective
As to export import related provisions, we can expect that these
will be designed to protect national interests as the bill
emphasizes the authority of the government to interfere in
export-import activities under certain circumstances to boost
exports and reduce imports.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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The Ministry of Corporate Affairs notified on June 5, 2015 that certain provisions of the Companies Act, 2013 shall not apply to private limited companies or shall apply with such exceptions or modifications as directed in the notification.
Pursuant to the circular issued by the MCA on 3 August 2016, Indian companies issuing Rupee denominated bonds overseas under the RBI's policy on external commercial borrowings will not be required to comply with the public issue and private placement disclosure and listing norms.
The constitution of the aforesaid Tribunals is in exercise of the powers conferred by Sections 408 and 410 respectively of the new Companies Act, 2013.
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