The New Criminal Code became the first piece of legislation passed into Law in 2023 and was promulgated on 2 January as Law No. 1 of 2023.
Part one of our client alert series outlined the key features of the New Criminal Code (access here) and part two of our client alert series outlined the key features of digital information, bribery & corruption and money laundering-related crimes in the New Criminal Code (access here). In this part three of the series, we take a look at how the New Criminal Code reintroduces crimes related to fraudulent acts against creditors.
In the absence of any criminal provisions under Law No. 37 of 2004 on Bankruptcy and Debt Suspension of Payment ("Bankruptcy Law"), any criminal sanctions for fraudulent-related acts against creditors are those originally set out in the old criminal code. The New Criminal Code reinvents the provisions in the old criminal code and reintroduces them as a new section in the fraudulent-related acts against creditors.
Indonesian New Criminal Code
Indonesian New Criminal Code (part two)
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