Signalling that it is back to business as usual, starting from 1 May 2022, the deadline for businesses to submit their mandatory post-closing notification returned to the original deadline of 30 business days from the effective date. Previously, the Indonesia Competition Commission ("KPPU") had extended this deadline to 60 business days at the height of the pandemic to alleviate businesses from the difficulties encountered in preparing their notification.
At the same time, KPPU also published a regulation on the Competition Compliance Program, which was first introduced under the Omnibus Law (Law No. 11 of 2020). In this Regulation, KPPU encourages businesses to prepare and implement a competition compliance program containing at least: (i) a code of ethics; (ii) a competition and antitrust handbook; and (iii) general or specific training. While businesses are free to decide whether to register their competition compliance program, if they do so, they may enjoy a reduced fine in the event of a violation.
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