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 organ of the Company and is fully responsible for the…
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Privatization of A State Owned Limited Liability Company
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 percent) of its shares owned by the Republic of Indonesia (“Company”), the remaining…
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