Indonesian Customs Recordation: Ready for Implementation
The Minister of Finance has issued Regulation No. 40/PMK.04/2018 regarding Customs Recordation, Preventive Measure, Guarantee, Suspension, Monitoring and Evaluation on import and export control of Goods suspected of infringing Intellectual Property Rights ("MFR No. 40/2018"). MFR No. 40/2018, which comes into operation this month, implements Government Regulation No. 20 of 2017 on Import and Export control for Goods suspected of infringing Intellectual Property Rights.
New Completion Target on the Amendment of the Indonesian Competition Law
The amendment process of Law No. 5 of 1999 on the Prohibition of Monopolistic Practices and Unfair Business Competition ("ICL") started 2 years ago, but the process was delayed due to the selection procedure of the KPPU’s commissioners for the office term of 2018-2023 (Komisi Pengawas Persaingan Usaha (“KPPU”)-the Indonesian Competition Authority). The House of Representatives ("DPR") has refocused its agenda on the amendment of ICL following the appointment of KPPU’s commissioners. Based on DPR’s schedule, the amendment should be finalised on 19 July and will be promulgated shortly after.