Rabu, Oktober 11, 2023

UU IKN Amended: Qualified Investors to Be Granted the Right to Utilize for over Two Centuries

The House of Representatives (Dewan Perwakilan Rakyat – "DPR") has passed the Bill ("Bill") amending Law No. 3 of 2022 on the Capital City ("Law 3/2022"), which amends a total of nine articles and introduces a total of six new articles on various matters. Among the points worth highlighting under the Bill is the granting of special authority over central and regional governmental affairs to the Authority of Nusantara Capital (Otorita Ibu Kota Nusantara – "IKN Authority").
Along with this special authority, the IKN Authority has also been granted the authority to perform the following actions: 1) Land use replanning within Nusantara Capital; 2) Appointment of non-civil servant officials; 3) The taking out of international loans; and 4) The sale or transfer of the ownership of its assets.
Furthermore, investors have now been granted the right to utilize lands for lengthy periods, as detailed in the table below:

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The House of Representatives (Dewan Perwakilan Rakyat – "DPR") has passed the Bill ("Bill") amending Law No. 3 of 2022 on the Capital City ("Law 3/2022"), which amends a total of nine articles and introduces a total of six new articles on various matters. Among the points worth highlighting under the Bill is the granting of special authority over central and regional governmental affairs to the Authority of Nusantara Capital (Otorita Ibu Kota Nusantara – "IKN Authority").
Along with this special authority, the IKN Authority has also been granted the authority to perform the following actions: 1) Land use replanning within Nusantara Capital; 2) Appointment of non-civil servant officials; 3) The taking out of international loans; and 4) The sale or transfer of the ownership of its assets.
Furthermore, investors have now been granted the right to utilize lands for lengthy periods, as detailed in the table below:

......