As a general rule in Indonesia, the appointment of a member of the board of directors (BOD) is conducted through a general meeting of shareholders (GMS), in accordance with Article 94, paragraph 1 of the Company Law. Directors may be appointed for a specific term and may be reappointed. Each appointment is effective on the … Corporate Governance in Indonesia: Appointment and Removal of Directors/Officers
Indonesia adopts a two-tier board system comprising the board of directors (BOD) and the board of commissioners (BOC). The implementation of the two-tier board system in Indonesia is mandatory under the Company Law (Law No. 40 of 2007 regarding Limited Liability Companies, as last amended by the provisions of the Job Creation Law), meaning that … Corporate Governance in Indonesia: Board Structure
SSEK Law Firm has contributed the Indonesia chapter to the Navigator on Directors’ Duties: Climate Risk and Sustainability Disclosures. The publication was put together by the Commonwealth Climate and Law Initiative (CCLI), in collaboration with the Climate Governance Initiative. Navigator on Directors’ Duties: Climate Risk and Sustainability Disclosures covers 30 jurisdictions. It is a comprehensive … Directors’ Duties: Climate Risk and Sustainability Disclosures – Indonesia
SSEK Law Firm was named a Best Overall Firm at the Asia Business Law Journal (ABLJ) Indonesia Law Firm Awards 2024, one of eight awards for the firm. SSEK was recognized for the following: Best Overall Law Firms Compliance & Corporate Governance Data Compliance & Cybersecurity ESG Insurance & Reinsurance Labor & Employment Taxation … SSEK Wins 8 Awards Including Best Overall Firm at ABLJ Indonesia Law Firm Awards 2024
Indonesia’s Company Law (Law No 40 of 2007 regarding Limited Liability Companies, as last amended by the provisions of the Job Creations Law) recognizes three primary bodies within the corporate structure of Indonesian companies: the board of directors (BOD), the board of commissioners (BOC), and the general meeting of shareholders (GMS). Each of these principal … Corporate Governance in Indonesia: Management of a Company
For private companies in Indonesia, Environmental, Social and Governance (ESG) reporting generally aligns with the requirements outlined in the Company Law (Law No. 40 of 2007 regarding Limited Liability Companies, as last amended by the provisions of the Job Creations Law) and Government Regulation No. 47 of 2012 concerning the Social and Environmental Responsibilities of … ESG Reporting Requirements in Indonesia
SSEK Law Firm senior partner Ira A. Eddymurthy, senior associate A. Charlie R. Malessy and associates Ravi Amarendra and Gabriela Eliana have contributed the Indonesia chapter to the Chambers and Partners Corporate Governance 2024 global practice guide. Corporate Governance – Indonesia provides the latest legal information on environmental, social and governance (ESG) considerations; decision-making processes; … Corporate Governance – Indonesia
Indonesia’s central bank, Bank Indonesia (“BI”), has issued a regulation designed to improve the competitiveness of the banking system by streamlining bank ownership through consolidation and enhancing supervision, particularly in the area of good corporate governance. BI Regulation No. 14/24/PBI/2012 regarding Single Ownership in Indonesian Banks was issued on December 26, 2012. It addresses what … Indonesian Banks Get New Ownership Rules
