Tag Archives: Corporate

Standard of Business Tourism Area

The standard of business tourism area is regulated under the Minister of Tourism and Creative Economy Number 17 of 2014 on Standard of Business Tourism Area (“MR No 17/2014”). Standard of business tourism area is a formulation of qualification of business tourism area and/or qualification of business tourism area which includes aspect of product, services,…
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The Establishment of Company Regulation

Provisions on company regulation is stipulated under Article 108 until Article 115 Law Number 13 of 2003 on Employment (“Law No.13/ 2003”) and Ministry of Manpower and Transmigration Regulation Number PER.16/MEN/XI/2011 on Procedures for the Establishment and Legalization of Company Regulation and Procedure for the Establishment and Registration of Collective Labor Agreement (“MOMTR 16/2011”). Article…
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The Annual Report in Limited Liability Company

The annual report is regulated under chapter IV in Law No.40 of 2007 on Limited Liability Company (“Company Law”). The following will describe the delivery mechanism of an Annual Report to the GMS. The directors will prepare an annual report of the company and then report it to the board of commissioners to be reviewed.…
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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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Merger of Limited Liability Company

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 company is transferred by the law to…
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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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