The Function of Legal Theory in Forming of the Regional Regulation in the Investment Sector Based on Electronic Transactions

DOI

10.2991/978-2-38476-180-7_119How to use a DOI?

Keywords

Electronic Transactions; Investment; Legal Theory; Regional Regulation

Abstract

The increase of investment fraud on the internet that is loss to the community and to the regions, marked by the number of cases of complaints to the OJK being handled by the Regional Investment Alert Task Force. Law Number 23 of 2014 stipulates that Investment is a mandatory government affair which is the authority of the Regions. Based on Article 236 paragraph (1) of Law Number 23 of 2014, the regions have the authority to form Regional Regulation. Indonesia has Law Number 11 of 2008 concerning ITE. However, there are no Regional regulation that regulate investment activities in ITE. Local governments need to establish regional regulations in the in the investment sector based on Electronic Transactions, as a legal umbrella at the Regional level. Formation of Regional Regulation requires relevant legal theory and legal principles. Legal issues: How does the function of Legal Theory and Principles of Efficiency and effectiveness in the Formation of Regional Regulation in the investment sector based on Electronic Transaction? Method: Normative legal, statutory approach. Analysis and processing using legal theory namely Legislation Theory, Authority Theory, Legal Protection Theory, are presented in a descriptive-qualitative manner. Results of the study: The function of legal theory in the formation of Regional Regulations in the Field of Electronic Transaction-Based Investment is as the foundation and basis for compiling content material, so that the purpose of forming Regional Regulations is to have legal force both philosophically, juridically and sociologically can be achieved.The function of the principle of usability and usability is to become the basic thoughts that provide direction to Regional Regulation makers in formulating content material, so that the use of ITE continues to maintain the principle of prudence and benefit amid the rapid progress of electronic transactions and the freedom to choose technology in society.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Ni Made Jaya Senastri
AU  - Made Wiryani
AU  - Ni Komang Arini Styawati
PY  - 2023
DA  - 2023/12/31
TI  - The Function of Legal Theory in Forming of the Regional Regulation in the Investment Sector Based on Electronic Transactions
BT  - Proceedings of the International Conference on “Changing of Law: Business Law, Local Wisdom and Tourism Industry” (ICCLB 2023)
PB  - Atlantis Press
SP  - 1173
EP  - 1181
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-180-7_119
DO  - 10.2991/978-2-38476-180-7_119
ID  - Senastri2023
ER  -