INDONESIA: New OJK Regulation on Major Shareholdings Notification

Saturday March 18 2017

On 14 March 2017, the Financial Services Authority (Otoritas Jasa Keuangan, the OJK) published d Regulation No.11/ POJK.04/2017 on reporting of major shareholdings notifications. This new regulation revokes and replaces Regulation No.60/POJK.04/2015 on Disclosing Information on Certain Shareholders (POJK 60/2015).

POJK 11/2017 required anyone who directly or indirectly holds 5% or more of the total issued shares in a public company to report to the OJK. Any subsequent changes of ownership of at least 0.5% also require such shareholder to report to OJK.

Notification must be made to the OJK within 10 calendar days after the date of the transaction.

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