Overview of the limited liability company or PT

post hrd 0004 When talking about the manufacturing industry, for sure we can't let go of the term PT, CV, UD, and various other business entity types. Indeed, inevitably, because manufacturing companies are certainly large corporations with substantial turnover, there should be a law provisions that protect the effort clearly. A manufacturing firm must have explicit permission in its business processes. That's why there can be no legal drug factory in Indonesia. At this time the article, I will discuss about the little company limited or PT that often become the most common business entity types in the manufacturing industry. Especially the manufacturing industry with some of the hundreds of millions, even billions, hundreds of billions each year.

Then what is a PT?

Because PT is a type of business entity that is guaranteed by law, of course I must use a valid source to answer what is PT. The source I would use is law No. 40 year 2007 regarding limited liability company. On the laws that mentioned that PT is the legal entity which is a capital Alliance, established by the Treaty, conduct business activities with a capital base that is entirely divided into shares, and meet the requirements set out in legislation and regulations implementation. In the brief illustration, we shared our colleagues (at least there should be 2 people) established a PT. There we have to clearly divide the capital (a minimum of 50 million) of each person. Everything has to be made with a valid agreement set by the notary public and there should be a decision letter from the Minister who made the PT us to be valid. Furthermore, each of the founders had to become directors and Commissioners. Two posts that must always be filled. What is a Board of Directors and Board of Commissioners? Read the description below.

Organ PT

When talking about PT, there should be at least three of these organs in the framework of decision making:

  1. General Meeting Of Shareholders (Gms)

Described in law No. 40 year 2007 regarding limited liability company, the general meeting of shareholders is the Supreme decision-holder in a PT. GMS have the force of law that are not owned by the Board of directors or Commissioners. As for its boundaries is usually determined through the articles of Association of PT nor by the law No. 40 year 2007 alone.

  1. The Board of Directors

The Board of Directors is fully responsible for the people against the activities conducted by the company. Either in or out of court. The Board of Directors are the ones who have the authority to directly in the technical decisions in favor of the more strategic advances even PT. As for the limits of the authority of the Board of Directors is regulated in the articles of Association and law No. 40 year 2007.

  1. The Board Of Commissioners

The Board of Commissioners structurally has the authority to advise the Board of Directors and provide a referral in accordance with the progress of the PT. But in the authority, the Commissioner does not have the right to perform a execution directly against existing policies of PT. Much like the Royal Adviser in the days of the monarchy. One of the highlights of the PT is the owner (the Board of directors or Commissioners) have no responsibility in his personal possessions against PT. That is, they are only liable in accordance with the value of shares already issued only. If there is a problem in the private treasure PT, directors and Commissioners could not have been included in the process. It's just that, points it may not apply if:

  1. PT requirements as legal entities is not or has not been fulfilled
  2. Shareholders concerned either directly or indirectly the bad intentioned utilizing PT for personal gain
  3. The concerned shareholders involved in tort conducted by PT
  4. Shareholders concerned either directly or indirectly are against the law to use the wealth of riches that resulted in PT, PT becomes insufficient to pay off debt

That's the last overview PT. May be useful. If anyone would like to ask, just tell us through the comment box.

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