Criteria for Corporate Actions Subject to Mandatory Notifications Expanded

As a part of the introduction of an electronic-based notification system for certain corporate actions that meet certain determined asset thresholds or sales values (“ System ”), the Business Competition Supervisory Commission (Komisi Pengawas Persaingan Usaha– “ KPPU ”) has issued Regulation No. 3 of 2023 (“ Regulation 3/2023 ”) on Assessments of Mergers, Consolidations and Acquisitions of Shares and/or Assets Which May Result in Monopolistic and/or Unfair Business Competition Practices (collectively referred to as “ Corporate Actions ”), which has been in force since 31 March 2023. [1] Previously, matters relating to mandatory notifications of Corporate Actions (“ Notifications ”) were specifically addressed under the framework of Regulation of the KPPU No. 3 of 2019 on Assessments of Mergers and Consolidations of Business Entities and Acquisitions of Company Shares Which May Result in Monopolistic and/or Unfair Business Competition Practices (“ Regulation 3/2019 ”), which has now been repealed and replaced. [2]