INDONESIA Law and Practice Contributed by: Chandrawati Dewi, Gustaaf Reerink and Bilal Anwari, ABNR Counsellors at Law
The notifying party will also need to grant a pow - er of attorney (notarised and apostilled, if signed outside Indonesia, or consularised depending on the jurisdiction) to the legal representatives making the filing with the KPPU. The notifica - tion form and all supporting documents must, in principle, be in Bahasa Indonesia. Any docu - ments prepared in a foreign language must be translated into Bahasa Indonesia. However, for practical reasons, the KPPU normally allows submission of a translated summary of each submitted document. If the parties do not record the Indonesian assets and turnover value in their audited financial statements, they would also need to submit a signed statement letter that includes these Indo - nesian figures. The KPPU may ask the parties to submit sup - plementary documentation in addition to the foregoing. 3.6 Penalties/Consequences of Incomplete Notification An incomplete notification will not be accepted by the KPPU and the authority will not issue a receipt of submission. If a receipt is not issued within the 30-day deadline, the notification will be considered late, and the KPPU may start a formal investigation for late submission and impose penalties. 3.7 Penalties/Consequences of Inaccurate or Misleading Information If the submitted information or documents are found to be false, the KPPU may cancel registra - tion of the notification, the findings of its review, or both. This cancellation may be treated as a late notification and be subject to penalties. To the best of the authors’ knowledge, to date, the
KPPU has not imposed penalties for false infor - mation or documents. 3.8 Review Process The review process involves two phases: • an initial check of the completeness of the documents; and • a review, which includes both initial and com - prehensive review sub-phases (with the latter sub-phase being applicable only for transac - tions that may raise competition concerns in Indonesia). The first phase, which is applicable to all noti - fications, also includes checking whether the transaction is notifiable. This initial check should be completed within three business days of submission. If the notification documents are complete, the KPPU will issue a statement that contains a registration number and confirma - tion of whether the transaction is notifiable. If the transaction is notifiable, it will continue to the review phase. If the documents are incomplete, the KPPU will request additional information or documentation as deemed necessary. The KPPU has 90 business days to review the notification until the issuance of the opinion on the transaction. Therefore, for the overall time - line, the KPPU has three plus 90 business days in total to issue an opinion. 3.9 Pre-Notification Discussions With Authorities The KPPU officials are nowadays reluctant to engage in informal pre-notification discussions with parties or their advisers. Even if they are willing to engage in such discussions, their input will not be binding on the KPPU.
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