Definition of The Board of Directors Under Article 1 number (5) of Law Number 40 of 2007 on Limited Liability Company ("Company Law") it is stated that the board of directors in the Limited Liability Company ("Company") is the Company’s organ which is an authorized...
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...
Based on the provision above, it can be stated that shares are an indivisible unit of capital, expressing the contractual relationship between the Company and the shareholder. According to Article 7 paragraph (2) Company Law, each founder of a Company must subscribe...
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...