Set to come into force during the 2024 financial year, the new guidelines for the drafting of Key Performance Indicators (KPI) for the Boards of Directors (BoD) of State-Owned Enterprises (Badan Usaha Milik Negara BUMN) classify BUMN KPI into the following two forms: 1) Collegial KPI for BoD Members; and 2) Individual KPI for BoD Members.

In the interests of state revenue, the Attorney General or other appointed officials may terminate investigations into certain crimes that occur within the excise sector (Excise Crimes) within six months of such requests being submitted by the Minister of Finance or other appointed officials. Excise Crime investigations may be terminated if the relevant Excise Crime perpetrators have first settled their payable administrative fines, which should amount to four times the initial payable excise values.

The overall procedure that must be followed in order to settle SVBI and SUVBI transactions breaks down as follows: 1) Registration and/or updating of the relevant required information; 2) Submission of application to participate in an auction; 3) Updating of the relevant information (if any); and 4) Submission of an auction offer

The Regulation stipulates three specific BGC categories, specifically: 1) Mandatory; 2) Recommended; and 3) Voluntary. Each category encompasses certain criteria that apply to buildings. Moreover, there are five stages of BGC organization, which break down as follows: 1) Programming; 2) Technical Planning; 3) Implementation of construction; 4) Utilization; and 5) Demolition

The scope of the specific audits that are required to be outlined within the aforementioned work agreements has also now been redefined, while the specific audit aspects have been classified into three main sectors (e.g. banking, capital market and non-banking financial institutions). While the scope of specific audits is quite broad, depending on the Parties themselves, each of said Parties specific audits include assessments of management assertions.

While retaining a majority of the existing aspects that apply to the submission of reports and/or applications by stock exchange members ("Members"), the submission of reports and/or applications related to deposit sales and/or purchase orders by Members will now be processed via the IDX Record system.

The Provincial Government of DKI Jakarta has stipulated a Provincial Minimum Wage (Upah Minimum Provinsi UMP) for 2024 of Rp. 5,067,381 per month, an increase of 3.38% over the DKI Jakarta UMP for 2023. The 2024 UMP comes into force on 1 January 2024 throughout the province of DKI Jakarta and will apply to employees who have worked for a company for a period of less than one year.

BI may appoint participants in OPT as primary dealers in order to support monetary operation transactions. In terms of said appointments, OPT participants must fulfill certain criteria and comply with certain mechanisms. Generally speaking, the regulation stipulates certain criteria that are required to be fulfilled and which have been grouped as follows: 1) Contributions; 2) Capabilities; 3) Collaborations and reputation; and 4) Other stipulated aspects

The Draft Regulation includes various provisions that specifically address the withdrawal and destruction of food products. These provisions specifically address the revocation of Business Licenses to Support Business Activities

The updated framework outlines a number of new prerequisites and requirements for WIUP/WIUPK expansion, requiring applicants for WIUP/WIUPK expansion to fulfill certain criteria prior to completing a submission. The prerequisites include an updated more comprehensive set of requirements for areas that qualify for the submission of applications for expansions.