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NEW BANK INDONESIA REGULATIONS

On 29 December 2010 Bank Indonesia issued a new regulation related to Offshore Loan Reporting to Bank Indonesia. This was followed by the issuance of its implementing regulation on 20 January 2011.

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LAW NO. 24 OF 2009 ON THE NATIONAL FLAG, LANGUAGE, EMBLEM AND ANTHEM (FEBRUARY 2010)

Law No. 24/2009 is having an unsettling effect on business in Indonesia. Despite the fact that no implementing regulations have been issued and there is a general consensus the failure to conclude an Indonesian version of an agreement should not invalidate it, risk averse parties and parties who in a position to push translation costs onto a counter-party are requiring the production of Indonesian translations of a wide range of legal documents.

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