Stronger under the Revised Law
The revised Indonesian Law on Companies divests power of shareholders general meetings equal to that of board of directors and board of commissioners. Does this mean company directors are absolved of accountability, even if they cause harm to the company?
December 18, 2001
Business should be conducted in accordance with the prevailing law. However, the law prevailing over business, namely Law No.1 of 1995 on Limited Liability Companies (the Company Law), is evidently unable to facilitate the advances in business practice. In view of this, the government through the Ministry of Justice and Human Rights has formed a team in charge of revising the Company Law. This team has already formulated a draft revision of the C
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