Bank Indonesia - Judicial Review - No Legal Standing

The judicial review ofLaw No. 23 of 1999as amended byLaw No. 3 of 2004has been rejected by the Constitutional Court (Mahkamah Konstitusi / MK) on the grounds that the applicant does not have the requisite legal standing to bring the judicial review. The applicant, the 100 Million Young Generation Life Project Cooperative (Koperasi Proyek Ruang Hidup 100 Juta Generasi Muda / RH - 100 - GM), was seeking to have the MK determine whether or not the Articles relating to the obligation on the Government to cover capital shortfalls of Bank Indonesia (BI) (Art. 11(4)) and (Art. 62(3)), the independence of BI (Art. 4(1) and (2)), legal tender (Art. 77A), and the status of BI as the central bank (Art. 4(1)) complied with the 1945 Constitution.