The Indonesian Constitutional Court Ruling on the Omnibus Law: Unconstitutional with Conditions?
On the 25th of November 2021, under its final and binding ruling No. 91/PUU-XVIII/2020, the Indonesian Constitutional Court (Mahkamah Konstitusi) ruled on an application for a judicial review of Law No. 11 of 2020 on Job Creation (commonly known as the “Omnibus Law”). The Court concluded that the formation of the Omnibus Law is procedurally flawed (cacat formil). In this advisory, we outline the notable verdicts and the possible implications of Ruling No. 91/PUU-XVIII/2020.
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The Implementing Regulation of the Payment Systems Regulation: Payment Services Providers
Following the issuance of Bank Indonesia Regulation No. 22/23/PBI/2020 on Payment Systems (“Payment Systems Regulation”) on 30 December 2020 which came into force on 1 July 2021 that serves as an “umbrella” regulation that provides a regulatory framework for the Indonesian payment systems industry.
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Risk Based Business Licensing: the New Approach by the Government of Indonesia to Attract More Investment
With the ongoing global pandemic affecting our economic nationwide in 2020, the Indonesian Government has issued Omnibus Law in 2020 to attract more investment as part of our national economic recovery program. There are numbers of current implementing regulations affected by the Omnibus Law and we have seen quite a significant number of new regulations issued by the Government to amend or replace the current ones.
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The Shipping Sector – The Implementing Regulations of the Omnibus Law on Job Creation
On 2 February 2021, the Indonesian Government issued Government Regulation No. 31 of 2021 on the Operation of the Shipping Sector (“GR 31/2021”) as the implementing regulation of Law No. 17 of 2008 on Shipping (as amended - the “Shipping Law”) which was recently amended by Law No. 11 of 2020 on Job Creation (the “Omnibus Law”).
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Strengthening the Supervision of e-Money
Bank Indonesia has issued Regulation No. 20/6/PBI/2018 on Electronic Money (e-Money) (“PBI 20/6”) which revokes the previous regulation on e-Money.
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