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Kedudukan dan Kewenangan Dewan Komisaris dalam Two-Tier Board System: Evaluasi Efektivitas Pengawasan Berdasarkan UUPT Bagus Firman Wibowo; Revi fauzi Putra Mina
Jurnal Ilmiah Penegakan Hukum Vol. 13 No. 2 (2026): JURNAL ILMIAH PENEGAKAN HUKUM DESEMBER
Publisher : Universitas Medan Area

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31289/jiph.v13i2.17581

Abstract

This study examines the position and authority of the Board of Commissioners within the framework of the two-tier board system as stipulated in Law Number 40 of 2007 concerning Limited Liability Companies (UUPT) and its amendments through Law Number 6 of 2023 concerning the Stipulation of the Perppu on Job Creation. The main issues examined include the extent to which the normative construction of the UUPT is able to effectively operationalize the supervisory function of the Board of Commissioners, as well as the structural obstacles that weaken this effectiveness in Indonesian corporate practice. The study uses a normative juridical method with a statutory, conceptual, and comparative approach. The analysis was conducted on the norms of the UUPT, regulations of the Financial Services Authority (OJK), the principles of corporate law, and governance practices in several jurisdictions that adopt dual and single board systems. The results of the study reveal three main findings: first, the normative design of the UUPT places the Board of Commissioners in a passive, reactive supervisory position, rather than an active, proactive supervisor, thus creating structural gaps in management oversight; second, provisions regarding the independence of independent commissioners are not equipped with an effective enforcement mechanism, making them vulnerable to dominance by majority shareholders; and third, the boundaries of authority between supervision (Board of Commissioners) and management (Board of Directors) often become blurred in practice, giving rise to intraorganic jurisdictional conflicts that weaken the company's accountability and strengthen the inquisitorial authority of the Board of Commissioners, codify measurable independence standards, and clarify the boundaries of authority between company organs.
Efektivitas Perlindungan Hukum Pemegang Saham Minoritas dalam Merger Perseroan Terbatas: Analisis terhadap UUPT dan Regulasi Terkait Bagus Firman Wibowo; Etty Uyun
Indonesian Journal of Innovation Multidisipliner Research Vol. 4 No. 3 (2026): Juli - September
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v4i3.1757

Abstract

Dinamika restrukturisasi korporasi melalui mekanisme penggabungan usaha (merger) di Indonesia menghadirkan tantangan kompleks dalam menyeimbangkan kepentingan ekspansi bisnis dengan perlindungan hak-hak pemegang saham minoritas. Artikel ini menyajikan analisis yuridis normatif yang mendalam mengenai efektivitas kerangka hukum Indonesia, khususnya Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas (UUPT) dan Peraturan Otoritas Jasa Keuangan (POJK), dalam melindungi kepentingan minoritas di tengah dominasi prinsip majority rule. Melalui penelaahan kritis terhadap mekanisme appraisal right, validitas penentuan "harga wajar" (fair value), serta independensi Profesi Penunjang Pasar Modal, studi ini mengungkap kesenjangan signifikan antara perlindungan de jure dan realitas de facto. Analisis komparatif dengan yurisdiksi Delaware, Amerika Serikat, khususnya terkait doktrin entire fairness dan evolusi metode valuasi yudisial, digunakan sebagai pisau bedah untuk mengevaluasi ketertinggalan standar hukum korporasi di Indonesia. Temuan studi mengindikasikan bahwa formalisme prosedural dalam regulasi Indonesia seringkali gagal menangkap substansi keadilan, diperburuk oleh lemahnya penegakan hukum dalam kasus-kasus krusial seperti sengketa Bank Agris dan PT Sumalindo Lestari Jaya Tbk. Artikel ini merekomendasikan reformasi struktural yang mencakup kodifikasi standar valuasi yang lebih rigid, penguatan fiduciary duty dalam transaksi benturan kepentingan, serta pemberdayaan peran pengadilan dalam judicial appraisal.