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VOL. 10, ISSUE 5 (2024)
The existence of law number 4 of 2023 on the development and strengthening of the financial sector for bankruptcy law in Indonesia
Authors
Raden Besse Kartoningrat, Isetyowati Andayani, Edi Krisharyanto
Abstract
Law Number 4 of 2023 concerning Development and Strengthening of the
Financial Sector (P2SK Law) as a replacement for the rules in the financial
sector that have been using with the formation and improvement of new rules
through the omnibus law system brings significant changes related to bankruptcy
law for financial institutions in Indonesia. The method used in
this paper is the normative method by examining the materials considered to
draw conclusions. Analysis of the research results shows that the philosophy
behind the formation of the P2SK Law is to create sustainable rules, avoid
overlapping authority, and improve coordination between related institutions in
the financial sector. This law provides strengthened authority to the OJK,
especially in terms of requesting bankruptcy statements against financial
institutions under its supervision. This strengthening emphasizes OJK's role in
supervising and regulating the stability and health of the financial sector.
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Pages:117-122
How to cite this article:
Raden Besse Kartoningrat, Isetyowati Andayani, Edi Krisharyanto "The existence of law number 4 of 2023 on the development and strengthening of the financial sector for bankruptcy law in Indonesia". International Journal of Law, Vol 10, Issue 5, 2024, Pages 117-122
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