Govt. Amends Provisions on the Appointment and Termination of BoD, BoC and Supervisory Boards of BUMN

In an effort to optimize the role of Indonesia’s State-Owned Enterprises (Badan Usaha Milik Negara– “ BUMN ”) in terms of support for the development of the national economy, the government has issued Regulation No. 23 of 2022 (“ Amendment ”), which amends Regulation No. 45 of 2005 on the Establishment, Organization, Supervision and Disbandment of BUMN (“ Regulation 45/2005 ”). [1]