The Limited Company Shares Transfer Through Circular Decree Out Of The Shareholders Meeting
Abstract
The authorized capital of the Company is divided into shares. Shares are movable objects that give the owner the right to attend and cast votes at the General Meeting of Shareholders, receive dividend payments and the remaining assets resulting from liquidation, as well as exercise other rights based on Law Number 40 of 2007 concerning Limited Liability Companies (“Company Lawâ€). Article 56 of the Company Law stipulates that the transfer of rights to shares is carried out by means of the transfer of rights deed. The transfer of rights deed can be made in the form of a notarial deed or a private deed. The transfer of rights deed or a copy thereof is submitted in writing to the Company. The Board of Directors must record the transfer of rights to shares, the date and day of the transfer of rights in the register of shareholders or special register and notify the change in the composition of shareholders to the Minister to be recorded in the register of the Company no later than 30 (thirty) days as of the date of recording the transfer of rights. Many of these deeds are made based on circular decisions outside the General Meeting of Shareholders.
Keynote : Company Law, Shares Transfer, Shareholders
References
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