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Ada Pertanyaan? Hubungi Kami Marcell Sihombing, Nando Narendra
The Ministry of Law and Human Rights. Photo by: SGP
As the end of 2015 draws ever nearer, the government is working to finalize the National Legislation Program (Prolegnas) for the 2016 period.
In line with this goal, the Ministry of Law and Human Rights’ Directorate General of General Law Administration (Ditjen AHU) is targeting the revision of Law No. 40 0f 2007 on Limited-Liability Companies (Company Law) for inclusion in the 2016 Prolegnas.
This plan was recently announced by Freddy Haris, Secretary of Ditjen AHU, who further explained that the Company Law was well overdue for a major overhaul as the idea was first proposed way back in 2007. Since then, there has been rapid economic development in the country and thus many revisions need to be made to the law in order that it conforms to current conditions.
Mr. Haris also revealed that around 20 issues relating to the Company Law had been compiled into a Problem Inventory List (Daftar Inventarisasi Masalah - DIM). One of these issues relates to Article 33 of the Company Law, which regulates the composition of a company’s authorized capital.
In general, a company’s capital comprises of authorized capital, issued capital, and paid-up capital, and these distinctions can prove confusing for some people. A revision to the Company Law has therefore been proposed which will stipulate only one type of capital in the future.
“We want to revoke the minimum authorized-capital requirement. Terms like authorized capital, issued capital, and paid-up capital are confusing. So I have suggested that in future the Company Law only defines capital as actual capital. Let’s just get real,” asserted Mr. Haris.
Furthermore, Mr. Haris firmly believes that the revocation of Article 33 will act as a catalyst as regards the Ditjen AHU’s intention to encourage small-scale businesses or small-capital businesses to establish themselves as limited-liability companies. Indeed, the procedures involved in becoming a limited-liability company are far simpler and clearer than those for limited partnerships or commanditaire vennootschap (CV).
“This step is taken in order to anticipate any CV related problems. CV licensing and registration procedures are both currently unclear, and also CV partners are jointly liable for all of a CV’s actions. Therefore, it is far better for small businesses to become limited-liability companies,” explained Mr. Haris.
In order to achieve this objective, the government is currently deliberating with a team of experts from the Ministry of Law and Human Rights.
“The government is currently discussing this matter with a panel of experts and it is hoped that a revision to the Company Law can be incorporated into the 2016 Prolegnas,” concluded Mr. Haris.
(sp)
Marcell Sihombing, Nando Narendra
The Ministry of Law and Human Rights. Photo by: SGP
As the end of 2015 draws ever nearer, the government is working to finalize the National Legislation Program (Prolegnas) for the 2016 period.
In line with this goal, the Ministry of Law and Human Rights’ Directorate General of General Law Administration (Ditjen AHU) is targeting the revision of Law No. 40 0f 2007 on Limited-Liability Companies (Company Law) for inclusion in the 2016 Prolegnas.
This plan was recently announced by Freddy Haris, Secretary of Ditjen AHU, who further explained that the Company Law was well overdue for a major overhaul as the idea was first proposed way back in 2007. Since then, there has been rapid economic development in the country and thus many revisions need to be made to the law in order that it conforms to current conditions.
Mr. Haris also revealed that around 20 issues relating to the Company Law had been compiled into a Problem Inventory List (Daftar Inventarisasi Masalah - DIM). One of these issues relates to Article 33 of the Company Law, which regulates the composition of a company’s authorized capital.
In general, a company’s capital comprises of authorized capital, issued capital, and paid-up capital, and these distinctions can prove confusing for some people. A revision to the Company Law has therefore been proposed which will stipulate only one type of capital in the future.
“We want to revoke the minimum authorized-capital requirement. Terms like authorized capital, issued capital, and paid-up capital are confusing. So I have suggested that in future the Company Law only defines capital as actual capital. Let’s just get real,” asserted Mr. Haris.
Furthermore, Mr. Haris firmly believes that the revocation of Article 33 will act as a catalyst as regards the Ditjen AHU’s intention to encourage small-scale businesses or small-capital businesses to establish themselves as limited-liability companies. Indeed, the procedures involved in becoming a limited-liability company are far simpler and clearer than those for limited partnerships or commanditaire vennootschap (CV).
“This step is taken in order to anticipate any CV related problems. CV licensing and registration procedures are both currently unclear, and also CV partners are jointly liable for all of a CV’s actions. Therefore, it is far better for small businesses to become limited-liability companies,” explained Mr. Haris.
In order to achieve this objective, the government is currently deliberating with a team of experts from the Ministry of Law and Human Rights.
“The government is currently discussing this matter with a panel of experts and it is hoped that a revision to the Company Law can be incorporated into the 2016 Prolegnas,” concluded Mr. Haris.
(sp)