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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