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Indonesia’s OJK Issues Regulation on Quick Restructuring for Troubled Banks in Wake of COVID-19 The COVID-19 world pandemic has taken a toll on the Indonesian economic system, underlining the necessity for financial establishments to have sufficient liquidity in the face of unsure instances. Human Resources Managers and Directors, and Supervisors who cope with all kinds of individuals points, together with hiring, promoting and firing. In a unanimous decision, Houston Community College System v. David Buren Wilson, the United States Supreme Court held on March 24, 2022, that an elected board of trustees might censure a trustee on the board and this motion was not a violation of the censured trustee’s First Amendment rights. This version of our Luxembourg Legal Update covers, amongst different topics, the Law of 6 April 2013 on the dematerialisation of securities and Bill N°6543 on electronic archiving. This edition of our Luxembourg Legal Update covers, amongst different topics, the Law of 12 July 2013 which revises the Insurance Sector Law and the Law of 12 July 2013 implementing the AIFM Directive.

Legal Update

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Cooperation Between Competitors And Covid

Regulation 8 was issued to assist the tax amnesty programmes initiated by the Indonesian authorities. The OJK Issues New Circular Letter on Micro-insurance Products Circular Letter 9, while not within the type of an OJK regulation, now prescribes an in depth method and approach to the distribution and sale of micro-insurance merchandise. Anti-Corruption Developments in Indonesia Indonesia has seen an increase in the variety of circumstances processed by the KPK and have had three new anti-corruption rules enacted since 2016. Data Protection in Indonesia’s Financial Services Sector Minister of Communication and Informatics Regulation No.20 of 2016 strengthens the obligations to guard the private and monetary knowledge of customers by providers of electronic systems.

The Apparel Industry And The Jordanian Economic System: Calculating The Domestic Share Of Sector Value Added

Background Checks Under Indonesian Employment Law Employers in Indonesia regularly carry out background checks on candidates. Certain background checks are in practice topic to the consent of the applicant. This edition of our Luxembourg Legal Update covers, amongst different matters, the Law of 24 July 2015 implementing FATCA, the Law of 23 July 2015 on the remuneration policies in the monetary sector and the Bill of legislation N°6858 on the automatic exchange of information on monetary accounts in tax issues. Is Senior Marketing Strategist at Healthcare Success Strategies, a data driven healthcare advertising firm.

Manpower Ministry Issues Regulation on Delegation of Licensing Authority to the BKPM In December 2017, the Indonesian Ministry of Manpower issued Regulation No. 22 of 2017 on the Implementation of the One-Stop Integrated Service for the Manpower Sector on the BKPM. Indonesian Government Publishes 2017 Cost of Electricity Generation Figures The Government just lately issued Decree No. 1772 K/20/MEM/2018 which illustrate the costs to PLN of procuring power from the different systems/sub-systems all through Indonesia. Indonesia’s PLN Invites Hydropower Developers to Prequalify Indonesia’s state-owned energy utility PLN, has issued an invitation to hydropower builders to submit applications to be included on the List of Selected Providers for Indonesian hydropower projects with a capability of above 10MW. New Regulation in Managing Oil and Gas Working Areas with Expiring PSCs The authorities has issued MEMR Regulation No. 23 of 2018, which states that a PSC Contractor does not automatically have the right to a PSC extension. Procurement Arrangements within the Indonesian Construction and Projects Sector Under Indonesian Law No. 2 of 2017 (the “Construction Law”), procurement arrangements in Indonesia are made through the execution of a construction work contract between the project owner/employer and the service provider/contractor. New Indonesian Manpower Regulation Changes Rules for Foreign Workers The Indonesian Ministry of Manpower has issued MOM Regulation Number 10 of 2018 on Procedures for the Utilization of Foreign Workers.