On 16 September 2014, the House of Representatives finally passed the Bill on Copyright (Copyright Bill). The Copyright Bill repeals and replaces the current copyright law, Law No. 19 of 2002 on Copyright. The Copyright Bill regulates various new topics which were not discussed in the current Copyright Law, among others as below. Copyright as a form of movable intangible property may be encumbered and registered as collateral under fiduciary security, pursuant to Law No ...
The Minister of Communications and Informatics issued Regulation No. 19 of 2014 on Controlling Internet Websites Containing Negative Content (Regulation 19). Regulation 19 has been in force since 17 July 2014. This regulation aims to implement “the safe and healthy use of the internet” by all social groups by blocking access to websites that contain pornographic or unlawful material (negative content) ...
On 8 April 2014, the Financial Services Authority (OJK) issued Regulation No. 2/POJK05/2014 of 2014 on Good Corporate Governance for Insurance Companies (Regulation 2). Loss and life insurance companies, as well as reinsurance companies must have at least 3 directors and 3 commissioners. Meanwhile, insurance and reinsurance brokerage firms are required to have 2 directors and 2 commissioners if their annual income exceeds IDR 10 billion ...
The Head of the National Agency for Food and Drug Control (BPOM) has issued Regulation No. 11 of 2014 on The Procedure for the Certification of Good Manufacturing Practices, ensuring compliance with the applicable standards for processed food. Regulation 11 has been in force since 5 August 2014 ...
On 25 August 2014, BKPM issued Circular Letter No. 252/A.8/2014 on Company Folders. This new system is known as the Electronic Investment Service and Investment Licensing System (Sistem Pelayanan Informasi dan Perizinan Investasi Secara Elektronik or SPIPISE). BKPM aimed to introduce the SPIPISE system on 1 October 2014. A company must have a “Right to Access” to create a “Company Folder” ...
The Banking Bill governs commercial (Bank Umum) and rural (Bank Perkreditan Rakyat) banks (Banks), and provides the procedure and requirements for establishing Banks, the restrictions on foreign ownership in Banks, the criteria for being appointed as senior executives or being controlling shareholders of Banks, and requirements regarding Bank soundness levels. The Banking Bill will replace the current Banking Law No. 7 of 1992 (as amended) ...
The Insurance Bill (Insurance Bill) was passed by the House of Representatives on 23 September 2014. The Insurance Bill repeals and replaces the current Law No. 2 of 1992 on The Insurance Business. In addition to the current insurance businesses such as general insurance, life insurance, and reinsurance businesses, the Insurance Bill regulates Sharia insurance. Under the Insurance Bill: 1 ...
SyCip Salazar Hernandez & Gatmaitan contributed the Philippine section of Deacons’ Marketing Private Funds and Discretionary Account Services: Asia and Beyond. The Philippine section was contributed by SyCipLaw’s senior partner Rafael A. Morales.The publication aims to assist asset managers in capital-raising and marketing activities ...
The Philippines section of The International Capital Markets Review 5th Edition contains an introduction to The Securities Regulation Code; The Securities and Exchange Commission; self-regulatory organizations, exchanges, clearing agencies and depositories; recent jurisprudence; developments affecting debt and equity offerings; developments affecting derivatives, securitizations and other structured products; cases and dispute settlement; relevant tax and insolvency law; other relevant laws an
Australia has a complex system of taxation including a Federal income tax, capital gains tax and goods and services tax (GST) and eight separate State and Territory systems of duties and taxes. Tax planning is therefore important to maximise after-tax investor returns. The following guide sets out some high level issues to consider on a global M&A deal where the target is an Australian company or business or where downstream Australian subsidiaries are involved ...
Recent publicity surrounding the exclusion or divestiture of stocks in carbon-intensive industries shows that leading investors are reviewing the financial risks (and opportunities) associated with climate change. However, with debate on climate change often pitched around ideological poles, many superannuation fund trustees are struggling to translate these developments into prudent governance practice, consistent with their statutory and general law duties ...
SyCipLaw partner Hector M. de Leon, Jr. was interviewed by ALB’s Ranajit Dam for the cover story of its January issue. Entitled "The year in 2015," the article provides a forecast of 2015 economic and legal developments and trends in China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, and Thailand.The article is available for viewing online at the ALB website. A copy of the entire January issue of ALB is also available through Issuu ...
Under Regulation No. 122/M-IND/PER/12/2014 on Delegation of Authority to Grant Industrial Business Licenses to the Head of the Capital Investment Coordinating Board, the MOT has delegated its authority to issue certain licenses to BKPM. Business licenses delegated consist: 1. Industrial Business License and/or Expansion Licenses as follows: a. alcoholic beverages industry; b. valuable paper industry; c. weapons and ammunition industry; d ...
On 26 January 2015, President Joko Widodo swore in Mr. Triawan Munaf as the Head of the Creative Economic Board (BEK – Badan Ekonomi Kreatif). BEK is tasked to strengthen the role of creative economic businesses, including protection for Indonesian creative crafts ...
The Parliament passed a bill on halal products in September 2014 and on 17 October 2014 the President enacted the bill as Law No. 33 of 2014 on Guaranty for Halal Products (Law 33 of 2014). Law 33 of 2014 requires that all products imported, distributed, or traded in Indonesia bear a halal certificate ...
Bank Indonesia issued Circular of Bank Indonesia No. 16/17/DSta, which came into force on 3 November 2014 (SEBI 16/17/DSta), which is a fourth amendment to Circular of Bank Indonesia No. 13/3/DPM on Commercial Bank Daily Report. SEBI 16/17/DSta amends the scope of information to be submitted to Bank Indonesia as well as, additional codes for exempted foreign loans, and additional codes for validation systems ...
Download a free copy of the Philippine section of Getting the Deal Through: Life Sciences 2015, which was contributed by SyCipLaw partners Rose Marie M. King-Dominguez and Carlos Roberto Z. Lopez with senior associate John Paul V. de Leon and associate Mark Xavier D. Oyales.This chapter is reproduced with permission from Law Business Research Ltd ...
SyCip Salazar Hernandez & Gatmaitan has updated the Philippine Chapter of the International Background Checks Summaries. Published by the Employment Law Alliance, it is a free online resource guide that provides clients and ELA-registered website users with the general requirements and practices for conducting background checks on potential employees in selected countries around the world.Register to access this free resource ...
The new Myanmar Electricity Law was enacted by the Myanmar Parliament on October 27 last year, replacing the old Electricity Law of 1984. The old electricity law was enacted during Myanmar’s socialist period and lacked the legal framework to include private sector participation in power projects and independent power producers ...
The new Myanmar Electricity Law was enacted by the Myanmar Parliament on October 27 last year, replacing the old Electricity Law of 1984. The old electricity law was enacted during Myanmar’s socialist period and lacked the legal framework to include private sector participation in power projects and independent power producers ...
The Ministry of Human Resources and Social Security, the Ministry of Foreign Affairs, the Ministry of Public Security, and the Ministry of Culture jointly issued a Notice on the Relevant Formalities for Foreigners Entering China for Completing Short-Term Work Assignment (for Trial Implementation) ("Notice") on 6 November 2014 which provides for new visa and residence requirements on foreigners entering and staying in China for work for no more than 90 days ...
Practical Law Company’s Employment and employee benefits: Philippines Q&A Guide has now been published online and is available to access or download as PDF. The Guide was contributed by SyCipLawEmployment & Immigration Department Head Luisito V. Liban ...
Download a free copy of the Philippine section of The International Comparative Legal Guide to: Telecoms, Media and Internet Laws and Regulations 2015, which was contributed by SyCipLaw partner Rose Marie M. King-Dominguez and senior associate Ruben P. Acebedo II ...
Vol. XII, Issue 4 of the Employment & Immigration Update includes the following articles:Doing Business: 2015Gender Equality in the WorkplaceStrengthening TripartismRecent Immigration Advisory and CircularsThe issue also contains information on recent Supreme Court decisions, labor and immigration news and circulars, and SyCipLaw updates.Download the Employment & Immigration Update 2014 4Q ...
The new Myanmar Electricity Law was enacted by the Myanmar Parliament on October 27 last year, replacing the old Electricity Law of 1984. The old electricity law was enacted during Myanmar’s socialist period and lacked the legal framework to include private sector participation in power projects and independent power producers ...
