Members of the BI Board of Governors Regulation No. 22/33/PADG/2020 dated December 1, 2020, regarding the Third Amendment of Members of the BI Board of Governors Regulation No. 20/15/PADG/2018 regarding the Organization of Immediate Fund Settlement Through BI's System - Real Time Gross Settlement ("RTGS"). This Regulation amends policies on fee determination and the evaluation of the arrangement of priority numbers for the settlement of automatic funds through BI-RTGS. It came into effect on the date of its enactment.
COMMUNICATION AND INFORMATICS
Minister of Communication and Informatics Regulation No. 5 of 2020 dated November 24, 2020, regarding Organization of Private Electronic Systems. This was issued as an implementing regulation for several articles in Government Regulation No. 71 of 2019 regarding Organization of Systems and Electronic Transactions. It is meant to simplify provisions as previously stipulated in Minister of Communication and Informatics Regulation No. 19 of 2014 regarding Handling Negative Internet Websites and Minister of Communication and Informatics Regulation No. 36 of 2014 regarding Guidelines for the Registration of Electronic Systems. The main thrust of this Regulation is the stipulation of the obligation for organizers of private electronic systems to register their services. It also requires private electronic system organizers to moderate electronic documents and information on their systems. This Regulation came into force on the date of its promulgation.
ENERGY AND MINERAL RESOURCES
Minister of Energy and Mineral Resources Regulation No. 17 of 2020 dated November 23, 2020, regarding the Third Amendment of Minister of Energy and Mineral Resources Regulation No. 25 of 2018 regarding Mineral and Coal Mining. This Regulation amends several articles including those on the due date for the sale of processed mineral/coal, bauxite, etc. This Regulation came into force on the date of its promulgation.
ENVIRONMENT AND FORESTRY
Minister of Environment and Forestry Regulation No. P.22/MENLHK/SETJEN/KUM.1/10/ dated November 3, 2020, regarding Amendment of Minister of Environment and Forestry Regulation No. P.4/MENLHK/SETJEN/ PHPL.3/1/2016 regarding Limitation of Business License for the Utilization of Timber Forest Products (Pembatasan Luasan Izin Usaha Pemanfaatan Hasil Hutan Kayu or "IUPHHK") in Natural Forests or IUPHHK for Industrial Plantation Forests in Production Forests. This Regulation stipulates that area limitations are waived for IUPHHK applications that were already in the minutes of meeting of technical proposal assessment process before the enactment of Minister of Environment and Forestry No. P.4/MENLHK/SETJEN/ PHPL.3/1/2016. This Regulation came into force on the date of its promulgation.
Minister of Environment and Forestry Regulation No. P.23/MENLHK/SETJEN/KUM.1/10/2020 dated November 3, 2020, regarding Environmental Laboratory. This Regulation acts as a guideline for improving the quality and accountability of testing conducted by environmental laboratories. It came into force on the date of its promulgation.
Minister of Finance ("MOF") Regulation No. 187/PMK.05/2020 dated November 26, 2020, regarding Guidelines for the Issuance of Government Bonds in the Framework of Handling the Impact of the Corona Virus Disease 2019 (COVID-19) Pandemic and National Economic Recovery in 2020, and the Utilization of Remaining Funds from the Issuance of Government Bonds in 2020 in the Framework of Financing the Further Implementation of Handling the Impact of the COVID-19 Pandemic and National Economic Recovery in 2021. The Regulation stipulates the basis for issuing government bonds by private placement or by auction for the purpose of financing non-public goods. It came into force on the date of its promulgation.
FINANCIAL SERVICES AUTHORITY ("OJK")
OJK Regulation No. 47/POJK.05/2020 dated November 26, 2020, regarding Business Licensing and Institutional Financing Companies and Shariah Financing Companies. This Regulation governs business licensing for institutional and shariah financing companies established in the form of a limited liability company. It governs, among other things, the direct/indirect maximum foreign ownership of 85% of a company's paid-up capital and the obligation for companies to conduct business activities after obtaining a business license from the OJK. This Regulation came into force on the date of its promulgation.
OJK Regulation No. 46/POJK.05/2020 dated November 10, 2020, regarding Infrastructure Funding Companies ("PPI"). This Regulation governs, among other things, (i) types of business activities in which PPI may engage, (ii) parties eligible to establish a PPI, (iii) minimum paid-up capital for the establishment of a PPI, (iii) organizational structure, (iv) branch office requirements, and (v) source of funds for a PPI. This Regulation came into force on the date of its promulgation.
INDONESIA STOCK EXCHANGE ("IDX")
Director of IDX Circular Letter No. SE-00009/BEI/12-2020 dated December 2, 2020, regarding Guidelines for the Implementation of Registration of Additional Shares through Pre-emptive Rights and Without Pre-emptive Rights. This Circular Letter provides that an application for the registration of additional shares through pre-emptive rights and without pre-emptive rights, as regulated under Director of IDX Circular Letter No. 00183/BEI/12-2018, must be accompanied by a (i) schedule for the implementation of capital increase through pre-emptive rights and (ii) prospectus for a public offering to increase capital by providing pre-emptive rights. This Circular Letter came into force on the date of its issuance.
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