Objections must be submitted to the Director-General of Customs and Excise, both in writing and electronically, via the portal of the Directorate-General of Customs and Excise

One of the most notable provisions introduced under this regulation is the mandatory implementation of risk management as a part of the management of investment products. In this regard, investment managers are required to implement effective risk management systems through the stipulation, application and maintenance of policies and strategies that relate to risk management

BUMN may implement their social and environmental responsibility programs through assistance and/or other activities, provided that any implementation of these measures now prioritizes a focus on education, the environment and the development of UMK or other policies determined by the Minister of BUMN

The requirements that have to be met in order to establish Sharia Banks encompass paid-up capital, ownership and licensing. The minimum amount of paid-up capital required in order to establish a Sharia Bank is set at Rp. 10 trillion, however, this does not apply to the establishment of Sharia Banks that are the result of spin-offs from sharia business units

In terms of mandatory spin-offs of conventional commercial banks that are looking to convert their sharia business units into sharia commercial banks, the Draft Bill removes the spin-off deadline and now only states that spin-offs are mandated for conventional commercial banks with sharia business units with asset values of at least 50% of the total asset values of the relevant parent banks. Previously, a deadline of 2023 was set for mandatory spin-offs

BUMN are required to implement effective risk management through the following measures the least: 1) Active management by boards of directors and supervision by boards of commissioners or supervisory boards; 2) Adequate risk-management policies and standard procedures for risk-management and risk-limit determinations; 3) Adequate risk identification, measurement, control, reporting and monitoring processes, and risk management information systems; and 4) Full internal control systems

The overall procedure for the registration of PA and PAF with the OJK breaks down as follows: 1) Submission of a registration application to the OJK along with the relevant required documents; 2) Inspection of the application and required documents by the OJK; and 3) PA/PAF will then be notified of application approvals and will be issued official registration certificates

All healthcare service facilities (e.g. hospitals, drug dispensaries, clinics, etc.), including facilities that offer telemedicine services, are now obliged to store electronic medical records, which should be provided for patients commencing from the time of their admission and extending until they leave, are referred or pass away

The Draft Regulation requires all securities companies that engage in certain types of business activities to become Users, specifically: 1) Securities brokers (PPE); 2) Mutual-fund sales agents; 3) Institutional PPE marketing partners; and so forth

PDP Bill which was issued via the official website of the Indonesian House of Representatives on 20 September 2022 contains a total of 16 chapters and 76 articles. Said chapters address the following areas: 1) General provisions; 2) Principles; 3) Types of personal data; 4) Rights of Data subjects; 5) Data processing; 6) Obligations of Data controllers; 7) Data transfers; 8) Administrative sanctions; 9) Institution; 10) International cooperation; 11) Public participation; 12) Dispute settlement processes; 13) Prohibitions on the use of Data; 14) Criminal provisions; 15) Transitional provisions; and 16) Closing provisions