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EightyEight@Kasablanka
Office Tower Lt. 6 Unit B
Jl. Casablanca Raya Kav. 88
Jakarta Selatan 12870
Ph. +62 21 21283043, +62 21 21283044
Fax. +62 21 21283044
Email. risenyp@rndpartnership.com
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- major bank in Indonesia right issue transaction
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On 4 October 2011, the Government of the Republic of Indonesia issued Government Regulation Number 43 of 2011 on Procedures for Fillings and Usage of Names of Limited Liability Company (“GR No. 43”). GR No. 43 sets out certain requirements for a name of a limited liability company as follows:
It has to be written in Latin letters;
It has not been used validly by another company or is not substantially similar with a name of another company;
It does not contradict to public interest and/or morality;
It is not the same with or similar to the name of the state institutions, government agencies or international agencies, except permitted by the related agencies;
It should not comprise of a number or series of numbers, a letter or sequence of letters which do not form a word;
It does not mean as limited liability company, legal entity or private partnership;
It does not only represent the company’s purposes and objectives and business activities; and
It is in accordance with the purposes and objectives of the company provided it is accompanied by other name (not solely the purposes and objectives).
On 28 June 2011, the Government of the Republic of Indonesia issued Law Number 7 of 2011 on Currency (“Law No.7”). Law No.7 requires every transaction in Indonesia to be made in Rupiah currency except:
- a transaction the purpose of which is to implement the state budget;
grant from or to foreign countries;
international tradings;
bank deposits in foreign currencies;
international funding transactions
On 23 March 2011, the Government of the Indonesia issued Law Number 3 of 2011 on Transfer of Fund (“Law No.3”). Under Law No.3, a transfer of fund is considered to be completed upon the receipt of such amount by the recepient.
The adjustment issue of forest area in Central Kalimantan is not fully settled and that the public should refer to the map referred in Minister of Forestry Decree No. SK.292/Menhut-II/2011 for The Non-strategic Area and the TGHK. The strategic area is subject to House of Representative's approval.
The Presidential Instruction of Moratorium on Issuance of New Permits for Forest Utilization was issued on 20 May 2011
Based on the Instruction, the President instructed, among others, the Minister of Forestry, the Head of Land Office, Governors and Majors to, among others (in accordance with their respective jurisdiction):
postpone the issuance of new permits for utilization of primary natural forest and peat land located within the conservation forest, protected forest (hutan lindung), production forest and area for other purposes (area penggunaan lain) as included in the indicative map attached to the Instruction. The indicative map will be revisited every six months. Unfortunately, we cannot obtained the indicative map and still trying to get it.
postpone the issuance of new recommendations, location permits, and land titles covering forest area, peat land and area for other purposes included in the indicative map.
The moratorium is valid for a period of two years as of 20 May 2011.
The followings are exempted from the moratorium requirement:
Applications that have obtained principle approvals from the Ministry of Forestry.
Implementation of vital national development programs.
Extension of forest utilization permits.
Restorations of ecosystems.
The Government issued Government Regulation No. 57 of 2010 regarding Merger or Consolidation of Companies and Acquisition of Shares Which May Cause Monopoly and Unfair Competition Practices ("GR No. 57"). GR No. 57 is valid as of 20 July 2010.
GR No. 57 requires companies that conduct merger, consolidation and/or acquisition resulting the value of assets after merger, consolidation and/or acquisition becomes Rp. 2,500,000,000,000 or Rp. 20,000,000,000,000 (for banks only) and/or resulting the sales value after merger, consolidation and/or acquisition becomes Rp. 5,000,000,000,000 to notify in writing such action to the Komisi Pengawas Persaingan Usaha within 30 working days after the effective date of such merger, consolidation and/or acquisition.
Failure to submit the report in due time is subject to a penalty of Rp. 1,000,000,000 per day provided that the maximum penalty that can be imposed is Rp. 25,000,000,000. The above notification requirement is not applicable for merger, consolidation and/or acquisition between affiliated companies as defined in GR No. 57.
Pada tanggal 22 Januari 2010, Peraturan Pemerintah nomor 11 tahun 2010 tentang Penertiban dan Pendayagunaan Tanah Terlantar (”PP No. 11”) diterbitkan. PP No. 11 mengatur mengenai penertiban atas tanah Hak Milik, Hak Guna Bangunan, Hak Pakai, dan Hak Pengelolaan atau dasar penguasaan atas tanah yang tidak diusahakan, tidak dipergunakan, atau tidak dimanfaatkan sesuai dengan keadaannya atau sifat dan tujuan pemberian hak atau dasar penguasaannya.
Selanjutnya, PP No. 11 mengatur bahwa Kepala Kantor Wilayah Badan Pertanahan Nasional adalah pihak yang berwenang untuk menyiapkan data tanah yang terindikasi terlantar yang kemudian menjadi dasar untuk dilakukannya identifikasi dan penelitian yang dilakukan oleh suatu Panitia. Apabila berdasarkan identifikasi dan penelitian disimpulkan terdapat tanah terlantar maka Kepala Kantor Wilayah Badan Pertanahan Nasional memberikan peringatan tertulis, sampai dengan tiga kali dengan waktu masing-masing 1 bulan, kepada pemegang hak untuk menggunakan tanahnya sesuai dengan sifat dan tujuan pemberiannya.
Apabila setelah tiga kali pemberitahuan, pemegang hak tidak juga menggunakan tanahnya maka Kepala Kantor Wilayah Badan Pertanahan Nasional mengusulkan kepada Kepala Badan Pertanahan Nasional untuk menetapkan tanah yang bersangkutan sebagai tanah terlantar. Dengan ditetapkannya suatu tanah sebagai tanah terlantar maka tanah tersebut menjadi tanah yang dikuasai langsung oleh negara.