NEW REGULATION ON POSITIONS CLOSED TO FOREIGN CITIZENS

The Minister of Manpower and Transmigration (MOM) recently issued Regulation No. 40 of 2012 on Certain Positions which are Closed to Foreign Manpower (“MOMR 40/2012”). MOMR 40/2012 lists 19 different positions, most related to human resources, which are closed to foreigners

NEW REGULATION ON ENVIRONMENTAL LICENSES

On 23 February 2012, Government Regulation No. 27 of 2012 on Environmental Licenses (“GR 27/2012”) was issued to regulate AMDAL, UPL & UKL, and the contamination and destruction of the environment

BAPEPAM-LK REGULATION ON GUIDELINES FOR SUBMITTING REGISTRATION STATEMENTS

On 30 December 2011, the Indonesian Capital Market and Financial Institutions Supervisory Agency (“Bapepam-LK”) issued Regulation No IX.A.1 (“Regulation”) which revoked the previous 1996 Regulation No. IX.A.1. The Regulation is intended to simplify the documents required for registration statement submissions

GOOD CORPORATE GOVERNANCE FOR INSURANCE COMPANIES

The Ministry of Finance has issued new Regulation No. 152/PMK 010/2012 on Good Corporate Governance dated 3 October 2012 (“Regulation No. 152”) as an implementation of Government Regulation No. 7 of 1992 on Insurance Business