Monthly Archives: August 2016

Extraordinary General Meeting of Shareholders

The regulation on Extraordinary General Meeting of Shareholders ("EGMS") is set forth in Chapter VI Article 78 paragraph (1) and Article 78 paragraph (4) of Law Number 40 of 2007 on Limited Liability Company ("Company Law”). Article 78 paragraph (1) states that: "General Meeting of Shareholders ("GMS") consists of the annual GMS and other GMS."…
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Consolidation of Limited Liability Company

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 new Company which by operation law obtains the assets and liabilities of the…
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