DEFINING “PARTICIPATE” UNDER ARTICLE 77 OF INDONESIA’S COMPANY LAW: OPEN-TEXTURED NORMS AND LEGAL CERTAINTY

Philip Anggra; Ariawan Gunadi

doi:10.31941/pj.v25i2.8339

Authors

Philip Anggra Universitas Tarumanagara
Ariawan Gunadi Universitas Tarumanagara

DOI:

https://doi.org/10.31941/pj.v25i2.8339

Keywords:

Open-Textured Norms, Participate, Electronic GMS, Legal Certainty, Limited Liability Companies

Abstract

This study aims to analyze the open-textured character of the term “participate” under Article 77 of Law Number 40 of 2007 concerning Limited Liability Companies and to formulate interpretive standards to strengthen legal certainty in electronic General Meetings of Shareholders (GMS). This study employs normative legal research using statutory and conceptual approaches. The analysis draws on H.L.A. Hart’s theory of the open texture of law and the theory of legal certainty. The findings indicate that Article 77 does not explicitly establish the degree of involvement required to satisfy the participation requirement. This ambiguity may lead to divergent interpretations and procedural abuse in GMS meetings. Accordingly, this study proposes a participation test comprising access to meeting communications, the opportunity to express opinions, and the ability to exercise voting rights. It also recommends implementing regulations consistent with the Company Law.

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