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Tags Posts tagged with "Corporate & Commercial"

Tag: Corporate & Commercial

New rules for geothermal production bonuses

By Abdul Haris Muhammad Rum and Chandra Karina, Lubis Ganie Surowidjojo
On 23 March 2017, Indonesia’s Ministry of Energy and Mineral Resources enacted Regulation No. 23 of 2017 on the Procedure for the Reconciliation, Depositing and Reporting of Geothermal Production Bonuses. The regulation applies to holders of geothermal business licences (i.e., holders whose concession is granted under the licence-based concession, pursuant...

Thailand launches regulatory sandbox for fintech services

By Jason Corbett, Silk Legal
In recent years, there has been a trend among financial regulators in jurisdictions around the world, including in Australia, Malaysia, Singapore, the UAE and the UK, to allow technology firms to operate business within the scope of a “regulatory sandbox”. A regulatory sandbox refers to a predefined scope of...

Singapore seeks transparency on control and ownership

By Ronnie Tan and Wong Ying-chung, Central Chambers Law Corporation
With effect from 31 March 2017, Singapore-incorporated companies, foreign companies registered in Singapore and limited liability partnerships (LLPs) are required to maintain a new register of controllers and Singapore-incorporated companies are required to maintain a new register of nominee directors. These amendments to Singapore’s corporate regulatory regime seek to enhance...

New Shanghai property rules impact on market prices

By David Li Binhui, AllBright Law Offices
A new Shanghai local rule came into effect on 10 April 2017, and will be effective until 31 March 2022. It is one of the most important of Shanghai local rules governing its booming real estate market. A new set of requirements has been introduced on acquiring, developing, holding and...

Are new rules on labour contracting worth the wait?

By Ma Clarissa Excelsis S Villanueva, ACCRA Law Offices
Finally, the long wait is over. After almost nine months of numerous dialogues and consultations, the Department of Labour and Employment (DOLE) secretary Silvestre Bello III issued Department Order (DO) No. 174, series of 2017. It sets out the new rules implementing articles 106 to 109 of the Labour...

GST in India will provide opportunities – and bear traps

By Kabir Bogra, Khaitan & Co
As the 161st entrant into the GST club, India’s arrival has been an arduous journey. While the reaction of Indian businesses has been overtly positive, there is scepticism with respect to the implementation of an underwhelmingly drafted legislation. Despite these concerns and misgivings, for investors looking at India, GST...

Easier for venture capital funds in Singapore

By Wong Ying Chung and Lisa Lim, Central Chambers Law Corporation
Singapore is making it easier for VCs and start-ups in a recent move. Managers of venture capital funds (VC managers) are subject to the same regulatory and compliance framework as other fund managers. In February 2017, the Monetary Authority of Singapore (MAS) published a consultation paper proposing a simplified...

Thailand’s EEC: a global gateway to Asia services

By Harit Na Pombejra, Silk Legal
The Thai government in conjunction with the Board of Investment recently announced the new Thailand 4.0 economic model, known as the Eastern Economic Corridor (EEC), which is the enhancement programme for three provinces on Thailand’s eastern seaboard. Manufacturing development in the past 30 years within these three provinces of Chachoengsao,...

DDS in relation to Corporation Code’s capital provisions

By Dan Bernard S. Sabilala, ACCRA Law Offices
The Philippine Stock Exchange (PSE) issued on 2 December 2016 the Rules on Dollar Denominated Securities (DDS rules) which govern the listing, trading and settlement of US dollar denominated Securities (DDS) to be listed and traded in the PSE. The DDS rules were earlier approved by the Securities and...

Changes to Indonesia’s insurance regulatory regime

By Ahmad Jamal Assegaf and Indra Pambudy, Lubis Ganie Surowidjojo
In December 2016, Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan, or the OJK) issued several regulations to further implement various key aspects of the Insurance Law 2014. The most important of these regulations are: OJK regulation No. 67 (2016) regarding Licensing and Institutional aspects of Insurance Company, Shariah Insurance Company,...