New Indonesian Regulation Requires Ministerial Approval for Changes to Shareholdings or Board Members of Companies doing Business in the Field of Energy and Mineral Resources
On 14 July 2017, the Minister of Energy and Mineral Resources (“MEMR”) issued MEMR Regulation No. 42 of 2017 on the Supervision of the Implementation of Business Activities in the Field of Energy and Mineral Resources (“Reg 42/2017”), which affects businesses in the energy and mineral resources industry, namely in the power, geothermal, oil and gas, and minerals and coal mining sectors. The regulation also provides the mechanism for the procurement of bio-diesel fuel. The regulation came into effect on 17 July 2017.