17 May, 2016
Government Regulation No. 1 of 2016, dated January 8, 2016, regarding Warehouse Receipt System Guarantee Implementing Institution. This Regulation appoints Perum Jaminan Kredit Indonesia as the warehouse receipt system guarantee implementing institution (“Implementing Institution”). The main duty of the Implementing Institution is to temporarily conduct the functions of a “warehouse receipt guarantee institution,” an institution that is mandated to be established under Law No. 9 of 2006 regarding Warehouse Receipt System, as amended. These functions primarily consist of giving guarantee to warehouse receipt holders for any failure by a warehouse caretaker. When a warehouse receipt guarantee institution is established, all duties and authorities of the Implementing Institution shall be transferred to such warehouse receipt guarantee institution. This Regulation came into force on the date of its promulgation.
Minister of Trade Regulation No. 14/M-DAG/PER/3/2016, dated March 2, 2016, regarding the Amendment of Ministry of Trade Regulation No. 77/M-DAG/PER/12/2013 regarding the Simultaneous Issuance of Trade Business License and Company Registration Certi cate for Trading Company. This Regulation amends the provision regarding the submission of a Trade Business License and Company Registration Certi cate applications, clarifying that the applications for both documents may be submitted simultaneously. It also shortens the time limit for the issuance of a Trade Business License and Company Registration Certi cate as of the receipt of the complete and correct application. This Regulation came into effect on the date of its stipulation.
For further information, please contact:
Dyah Soewito, Partner, Soewito Suhardiman Eddymurthy Kardono
dyahsoewito@ssek.com
