Finance & Projects
www.bakermckenzie.com
Possible Remedies
For further information please contact
The assessment by the governor may affect the respective IUPs, by way of,
amongst others:
Luke Devine
Foreign Legal Consultant
+62 21 2960 8600
luke.devine@bakernet.com
Norman Bissett
Foreign Legal Consultant
+62 21 2960 8678
norman.bissett@bakernet.com
Muhammad Karnova
Partner
+62 21 2960 8699
muhammad.karnova@bakernet.com
Jeremia Purba
Associate
+62 21 2960 8592
jeremia.purba@bakernet.com
Hadiputranto, Hadinoto & Partners*
The Indonesia Stock Exchange
Building, Tower II, 21st Floor
Sudirman Central Business District
Jl. Jendral Sudirman Kav. 52-53
Jakarta 12190
Indonesia
www.hhp.co.id
a. adjustment of the IUP (for example, by revising the coordinates as
necessary);
b.
relinquishment of area, if only part of an IUP is affected; and
c.
revocation of IUP.
As this assessment should sort the compliant IUPs from the non-compliant
ones, we expect that the results of this assessment will be used by the MEMR
to determine the status of these IUPs.
Takeaways
While it may be too late for some IUP companies to ensure that their IUPs
have been properly issued, they should ensure that their reporting, financial
and environmental obligations have been satisfied, and that they have been
issued with a Clear and Clean certificate.
***
We will continue to monitor this matter and will provide a further, more
detailed analysis once the regulation has been passed.
Milan Radman
Principal
+65 6434 2641
milan.radman@bakermckenzie.com
Baker & McKenzie.Wong & Leow*
8 Marina Boulevard
#05-01 Marina Bay Financial Centre
Tower 1
Singapore 018981
www.bakermckenzie.com/Singapore
*Hadiputranto, Hadinoto & Partners and
Baker & McKenzie.Wong & Leow are
member firms of Baker & McKenzie
International.
©2015 Baker & McKenzie. All rights reserved. Baker & McKenzie International is a Swiss Verein with member law firms around the world.
In accordance with the common terminology used in professional
service organizations, reference to a “partner” means a person who is a partner, or equivalent, in such a law firm. Similarly, reference to an “office” means an office of any such law firm.
This may qualify as “Attorney Advertising” requiring notice in some jurisdictions. Prior results do not guarantee a similar outcome.
2
Government to Issue Regulation to Re-order or Revoke IUPs December 2015
.