Tag Archives: Assets of Company

The Records and Depository of Company’s Document

The provisions regarding records and depository of Company’s Document is set under Law Number 8 of 1997 on Company’s Document (“Law No.8/1997”). One of the considerations to form Law No.8/1997 is to guarantee that the company’s operation isefective and efficient, which is one of the basis of national development policy in the field of economy.…
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Profit Utilization of Limited Liability Company

Profit utilization of limited liability company is regulated under Article 70-73 Law Number 40 of 2007 on Limited Liability Company (“Company Law”). The company is obliged to set aside a certain amount of net profits for every financial year as a reserve. The net profits are profits of current year after deducting taxes. Nevertheless, the…
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Company’s Document

Since 1997, the Law Number 8 of 1997 on Company’s Document (“Law on Company’s Document”) has been promulgated. It revoked the Article 6 of Indonesian Commercial Code and all laws and regulations which contradict with the Law on Company’s Document. This regulation is concerning company’s document, including the diversion, transfer, assignment, and removal of company’s…
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Derivative Action in Limited Liability Company

In the Law Dictionary (Gifis, Steven H.; 1984: 129), derivative action is explained as an action or claim based on the primary right of the company, but performed by the shareholders for and on behalf of the company. This claim can be filed by the shareholders in the event of failure and losses on the…
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