Update – New OJK Regulations on Substantial Shareholding Reporting and GMS Procedure

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On 14 March 2017, the Financial Services Authority (Otoritas Jasa Keuangan, the OJK) issued Regulation No.11/ POJK.04/2017 on Reporting of Substantial Shareholdings in Public Companies (POJK 11/2017). This new regulation revokes and replaces Regulation No.60/POJK.04/2015 on Disclosing Information on Certain Shareholders (POJK 60/2015). On the same day, OJK also issued Regulation No.10/POJK.04/2017, an amendment to Regulation No.32/POJK.04/2014 (POJK 32/2014), on General Meetings of Shareholders of Public Companies (POJK 10/2017). POJK 10/2017 added three new articles to the existing regulations on general meetings of shareholders (GMS) under POJK 32/2014. These two new OJK regulations came into effect immediately.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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