HUKUM PERSEROAN

INDONESIA CORPORATE LAW

A Company’s deed of establishment which has been ratified and deed of amendment of the articles of association which has been approved and/or notified to the Minister must be recorded in the register of Companies and announced in the Supplement to the State Gazette of the Republic of Indonesia made by the Minister. In the matter of grants of status as a legal entity, approvals and/or receipts of notification of amendments to the

articles of association, and changes to other data, this Act has not connection with the Mandatory Company Registration Act.

To further clarify and make explicit provisions involving Company Organs, this Act amends provisions involving the holding of General Meetings of Shareholders (GMS) by using technological developments. Thus, a GMS can be held by electronic media such as teleconferences, video conferences, or other electronic media facilities. This Act also clarifies and makes explicit the tasks and responsibilities of the Board of Directors and

Board of Commissioners. This Act provides for independent and delegated commissioners.

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Indonesia's Capital Market Law

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Hukum Pasar Modal Indonesia

INDONESIA’s CAPITAL MARKET LAW

Capital Market is the market in which long term financial instruments, such as bonds, equities, mutual funds and derivative instruments, are traded. Capital Market serves as an alternative for a company's capital resources and public investment. It also facilitates the infrastructures needed for the seling and buying process and other related activities.

Capital Market Law Number 8 Year 1995 defines Capital Market as “the activity of trading and offering securities to the public, the activity of a public company with respect to securities it has issued, and the activities of securities-related institutions and professions.”

Capital Market plays an important role in the economy of a country because it serves two functions all at once. First, Capital Market serves as an alternative for a company's capital resources. The capital gained from the public offering can be used for the company's business development, expansion, and so on. Second, Capital Market serves as an alternative for public investment. People could invest their money according to their preferred returns and risk characteristics of each instrument.

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Menurut Undang-Undang Kepailitan yang lama (faillissement Verordering Staatblad 1905:207 juncto Staatsblad 1906:348), kewajiban pengurusan administratif dan likuidasi harta kepailitan secara khusus dilakukan oleh Balai Harta Peninggalan (BHP). Namun, sejak Undang-Undang No. 37 Tahun 2004 Tentang Kepailitan dan Penundaan Kewajiban Pembayaran Utang - Selanjutnya disebut UUK- diberlakukan, tugas pengurusan administrasi dan likuidasi tersebut diperluas dimana para praktisi (Penasehat Hukum, Akuntan dan Profesional lainnya dengan keahlian yg sama) diperbolehkan untuk bertindak sebagai Kurator dalam Kepailitan dan atau Pengurus dalam sebuah Penundaan Kewajiban Pembayaran Utang (PKPU).

Selanjutnya.........