On Monday, 14 October, the Indonesian Business Competition Supervisory Commission published its Regulation Number 3 of 2019 on Assessment of Merger or Consolidation of Business Entities or Share Acquisitions of Companies (KPPU Regulation 3/2019). As per the unfortunate usual practice, this regulation was published late as it actually came into force on 3 October.
As you may know, KPPU Regulation 3/2019 has been the subject of a fair share of controversy, chiefly because it expanded the KPPU's scope of authority to assess acquisitions of assets. Previously, the KPPU reviewed acquisition of shares, mergers between companies and consolidation of companies only. Now the KPPU claims that it has the authority to review acquisitions of assets as well.