Definition of Privatization What is privatization? According to Law Number 19 year 2003 concerning State Owned Companies (“UU BUMN”), privatization is the selling of shares belonging to a state owned company in a limited liability company with at least 51% (fifty one...
Under Article 1 number 9 of Law Number 40 of 2007 on Limited Liability Company (“Company Law”) merger means a legal action which is taken by one or more companies to merge with another existing company with the result that the assets and the liabilities of the merging...
Companies’ authorized capital is divided into shares. Shares is a moveable goods which give rights to the owner to attend and to vote in the General Meeting of Shareholders (“GMS”), to receive the payment of dividends and the remaining asset as the result of...
Article 1 paragraph (10) of Law Number 40 of 2007 on Limited Liability Company (“Company Law”), regulates a definition of consolidation, as follows: “Consolidation means a legal action taken by two or more Companies to consolidate themselves by means of establishing a...
Background A tax on the ‘gains’ (profits) of sale of shares of Domestic Limited Liability Companies (“Domestic Company”) which is conducted by a Foreign Taxpayer, where the company is not the issuer or Public Company, is specifically regulated in the Decree of...
Background Article 1 number 11 of Law Number 40 of 2007 on Limited Liability Companies (“Company Law”), regulates on the definition of acquisition as follows: "Acquisition” means a legal act which is conducted by a legal entity or individual person for taking...
Definition of Limited Liability Companies according Article 1 paragraph 1 of Law Number 40 of Year 2007 (“Company Law”), stated: “Limited Liability Company” hereinafter called a (“Company”) means a legal entity which constitutes an alliance of capital established...
Law Number 40 of 2007 on Limited Liability Company ("Company Law") only recognizes the classification of registered shares. However, Article 53 paragraph (1), (2) and (3) of Company Law states that, the Articles of Association may determine more than one...