OMNIBUS LAW AND INDONESIAN LEGISLATION PROCESS Preliminary Review of Law Number 04 of 2023 Concerning the Development and Strengthening of the Financial Sector

Abstract

Omnibus Law is a new thing in the practice of legislation in Indonesia. Starting with the Law of the Republic of Indonesia Number 11./2020 on Job Creation and then followed by the Law of the Republic of Indonesia Number 4 of 2023 on Financial Sector Development and Strengthening . Quoting the opinion of Ittai Bar-Siman-Tov (2021; 9) , Omnibus Law is the practice of forming laws by packaging a number of unrelated policies in a long law that is often passed with an accelerated process. It seems that the Omnibus Law is a way taken by the executive to reduce the ability of parliament to exercise control over the executive, especially in terms of lawmaking, namely by presenting draft laws that cover very broad and complex matters and are often not interconnected, but must be completed in a relatively short period of time. The practice of the Omnibus Law appears to be a manifestation of what Tom McDowell calls neoliberal parliamentarism (2021; 4), "... in which parliamentary procedures and practices have been gradually reformed to accommodate politically contested retrenchment policies by limiting the capacity of a legislature to scrutinize the actions of the executive branch.