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ACQUISITION UNDER LAW NO.40/2007 ON LIMITED LIABILITY COMPANY (Akusisi Perusahaan):

03 Jun

Under law No.40/2007 acquisition on limited liability company, acquisition is divided into two categorize (i) acquisition directly through the shareholder and (ii) acquisition through company director. Following are the simple procedures on limited liability company in Indonesia.

ACQUISITION DIRECTLY THROUGH THE SHAREHOLDER:

  1. Find provisions on Acquisition in the Article of Association of the Acquired Company and any agreement made previously by third party.
  2. Approval for the Acquisition from the General Meeting of Shareholder Resolution
  3. Announcement of the Acquisition in 1 news paper, Written announcement for the Company’s employee, Period: at the latest 30 days prior the date of notice of the GMOS
  4. Announcement for any third party at the Company’s office since the announcement date until the GMOS is conducted.
  5. Objection (if any) from Creditor, submitted at least in 14 days after the announcement, to the Company
  6. Settlement for such Objection by the Directors and/or GMOS and The Acquisition shall be postponed.
  7. GMOS resolution for the approval of the acquisition which has been made in Notarial Deed in Bahasa Indonesia shall be submitted to the Ministry of Law and Human Right for the amendment of the Article of Association acknowledgement.
  8. The acquisition shall be valid since the date of an acknowledgement is accepted by the Ministry or on the further date which is stipulated in the Deed of Acquisition.

 

ACQUISITION THROUGH COMPANY’S DIRECTORS

  1. The Acquirer notifies the intention of the Acquisition to the Acquired Company.
  2. The Director of the acquired Company and the Acquirer Company, by having an approval from the Board of Commissioner, may arrange draft’s acquisition.
  3. Announcement of the Acquisition in 1 news paper and written announcement for the Company’s employee Period: at the latest 30 days prior the date of notice of the GMOS
  4. Announcement for any third party at the Company’s office since the announcement date until the GMOS is conducted.
  5. Objection (if any) from Creditor, submitted at least in 14 days after the announcement, to the Company
  6. Settlement for such Objection by the Directors and/or GMOS and the Acquisition shall be postponed.
  7. GMOS resolution for the approval of the acquisition which has been made in Notarial Deed in Bahasa Indonesia shall be submitted to the Ministry of Law and Human Right for the amendment of the Article of Association Approval through the Ministry Decree.
  8. The acquisition shall be valid since the date of an approval is granted through the Decree of the Ministry or on the further date which is stipulated in the Deed of Acquisition.

     

ACQUISITION ON FOREIGN LIMITED LIABILITY COMPANY

  1. Submit an application for an amendment on the Company Shareholder by filling out Form III to the Head of BKPM and the related institutions
  2. The Decree for such approval shall be issued at the latest 5 working days since the application has been correctly and completed accepted.

 

Deliver by,

AK

 
 

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