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Corporate Governance Regulation and Technology: Indonesiaâ€™s Way to Move Forward Prisandani, Ulya Yasmine
Journal of Private and Commercial Law Vol 4, No 1 (2020): May
Publisher : Faculty of Law, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jpcl.v4i1.24447

The study aims to analyze the regulation and implementation of corporate governance in Indonesia, and extend it to the beneficial utilization of technological advancements in the legal field that can be applied to developing Indonesian good corporate governance implementation. The analysis will be carried out through a normative-juridical method, utilizing the statute approach in which relevant laws and regulations are enquired into, supported by the existing literatures and academic papers. The paper looks into the weaknesses of the currently prevailing corporate governance regulatory regime, followed by the possible use of technology to develop Indonesiaâ€™s corporate governance implmenetation. The study finds that the drawbacks of Indonesian corporate governance legal regime include the needs for stronger and stricter regulation such as in relation to the requirement for affiliation for Board of Directors and Board of Commissioners, as well as minority shareholders protection linked to an equitable decision making process in a General Meetings of Shareholders. Further, technological advancements can be used for the betterment of corporate governance implementation in Indonesia, such as in terms of automation of document filing, submission and reporting in addition to other practical online and digital means which include the eASY.KSEI system as the official online General Meetings of Shareholders platform for public companies that has been tested during the recent COVID-19 pandemic situation.

Revisiting the need to regulate foreign portfolio investor in the Indonesian stock market Ulya Yasmine Prisandani; Felix Pratama Tjipto
Legality : Jurnal Ilmiah Hukum Vol. 29 No. 2 (2021): September
Publisher : Faculty of Law, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/ljih.v29i2.15216

This research aims to reintroduce the issue of foreign portfolio investment in Indonesia by way of presenting an analysis on the prevailing Indonesian laws and regulations, comparative analysis with well-established jurisdictions, as well as an evaluation on the need for regulating foreign portfolio investment in Indonesia. The methods used in this research combine normative and empirical methods where a review is conducted on the laws and regulations in Indonesia as well as in South Korea and India as comparative jurisdictions, in addition to an interview conducted with the Indonesian Stock Exchange. The research found that Indonesia does not have a separate, comprehensive set of regulations on foreign portfolio investments yet whereby inferences need to be made from the prevailing laws and regulations that are general in nature. After the comparative overview and analysis, there appears to be a need for separate regulation for foreign portfolio investments in Indonesia, either by way of enacting a completely new set of laws and regulations or alternatively, by way of creating implementing regulations to support the prevailing laws.

The Significance of Contractual Intention: A Comparative Analysis on English and Indonesian Law Ulya Yasmine Prisandani
Jurnal Hukum IUS QUIA IUSTUM Vol. 25 No. 3: SEPTEMBER 2018
Publisher : Fakultas Hukum Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/iustum.vol25.iss3.art4

The legal terms of a contract vary from one country to another, and the will in a contract often influences whether a contract has been perfectly established. Establishing a contract between parties from different legal systems has the risk of defect and imperfection in the establishment of the contract, which can influence the rights of one party when a contract related dispute occurs. The British law requires supply, acceptance, and reciprocity as legal conditions for contracts, but the legal terms of a contract in Indonesian law are stipulated in the Civil Code. Therefore, this study aims to develop a comparative analysis relating to the role of contractual will in determining the validity of a contract in British and Indonesian laws as well as their method in interpreting contracts. The study used the normative qualitative method with a comparative approach to the two legal systems completed with a description of the will in a contract based on CISG. Both legal jurisdictions are open for the possibility of assuming will incompatibility in a contract as 'oversight', and in such cases, a contract can deem void.

The Importance of Regulating Plastic Marine Pollution for the Protection of Indonesian Marine Environment Ulya Yasmine Prisandani; Adzhana Luthfia Amanda
Yuridika Vol. 35 No. 1 (2020): Volume 35 No 1 January 2020
Publisher : Universitas Airlangga

The ocean and its marine resources play an important role in providing sources of livelihood to the Indonesian people. Indonesia is currently dealing with a major plastic waste problem, and this, in turn, also impacts the marine environment since the plastic waste ends up in the ocean. The issue of marine pollution is regulated under international conventions such as the MARPOL and UNCLOS, though none is specifically addressing marine plastic waste. Moreover, Indonesia has enacted several regulations to manage marine plastic waste, including Presidential Regulation Number 83 of 2018 on Marine Waste Management, and Indonesian citizens have taken an active role in reducing plastic waste. However, stricter and more specific regulations are needed as guidelines for the long-term strategy in handling marine plastic pollution in Indonesia, and proper analysis on the impact of such regulation towards the stakeholders and affected parties would be needed.

Optimising the Role of the Financial Services Authority for a More Sustainable Business Ecosystem in Indonesia Ulya Yasmine Prisandani
Yuridika Vol. 37 No. 1 (2022): Volume 37 No 1 January 2022
Publisher : Universitas Airlangga

This paper elaborates the role of the Indonesian Financial Services Authority in providing a legal framework, for public and financial services companies in particular, for achieving sustainability. It also provides a comparative analysis of sustainability regulations and functions undertaken by financial services authorities in other jurisdictions. This research takes a normative approach, combining an assessment of Indonesian laws and regulations related to business sustainability and a comparative approach; the latter provides insight into the comparable legal framework in the European Union and the United Kingdom. The Indonesian Financial Services Authority issued regulations on sustainable financing in 2017, and its sustainability roadmap was updated in 2021. Comparable provisions are found in the United Kingdom’s Financial Conduct Authority’s guiding principles on design, delivery, and disclosure of environmental, social and governance and sustainable investment funds, which acts as a supplement to the EU’s Sustainable Finance Disclosure Regulation. This paper hopes to contribute to the literature on business and human rights by providing an overview of the current role of the Indonesian Financial Services Authority in ensuring the sustainability of businesses under its auspices in comparison with similar agencies in the United Kingdom and European Union. Research on business and sustainability in Indonesia from a legal perspective is still rare, despite the rising urgency of the matter in developing business and human rights as well as climate change mitigation strategies.

Hostile Takeover Law and the Challenges in Market for Corporate Control: A Comparative Analysis between Indonesia and the United Kingdom Yeselia Salim; Ulya Yasmine Prisandani
Jambura Law Review VOLUME 4 NO. 2 JULY 2022
Publisher : Universitas Negeri Gorontalo

The concept of hostile takeover is still unrecognized under Indonesian laws and regulations despite its importance in keeping the corporate board in check and corporate governance better implemented in a company. This article seeks to explore the extent of the current environment and regulation in Indonesia able in accommodating hostile takeover in relation to the market for corporate control in Indonesia by using hostile takeover as a mechanism to measure. A comparative analysis is then conducted with the United Kingdom United Kingdom as a country with an active market for corporate control, specifically with the methods employed to deal with hostile takeover.

INDONESIAN REGULATORY SYSTEM TOWARDS OWNERSHIP OF EXPLOSIVE DEVICES BY CIVILIANS Dewantary, Zenny Rezania; Prisandani, Ulya Yasmine; Lardo, Mohammad Afdha
Veritas et Justitia Vol. 5 No. 1 (2019): Veritas et Justitia
Publisher : Faculty of Law, Parahyangan Catholic University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25123/vej.v5i1.3167

Indonesia possessed laws and regulation concerning the acquisition, distribution and use of armed weapons and explosive devices. A number of incidents, however, show a faulty monitoring system. Terrorist groups involved in the Surabaya bombing this year has been known to use triaseton triperoxide also known as the mother of Satan (mos), commonly used by ISIS. This fact shows a weakness in the monitoring or supervisory system put in place to control the use of armed weapons and explosive devices. In this article, the author shall discuss, using a normative-empirical juridical approach, to what extent the prevailing national law has been synchronized with the existing international convention regulating the acquisition and use of armed weapons and explosive materials or devices.

BALANCING INTELLECTUAL PROPERTY PROTECTION AND RELEASE OF EXCLUSIVE RIGHTS FOR SUSTAINABILITY PURPOSES Prisandani, Ulya Yasmine
JIPRO: Journal of Intellectual Property JIPRO, Vol. 7, No.2, 2024
Publisher : Fakultas Hukum Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jipro.Vol7.iss2.art2

This paper explores the balance between intellectual property protection and its release for sustainability purposes within the Indonesian legal framework. While intellectual property rights incentivize innovation by granting creators exclusivity, they can also hinder the accessibility of technologies essential for achieving sustainability goals, particularly in resource-constrained regions. The study mentions global examples, including open-source initiatives by Tesla and Toyota, and examines their implications for fostering innovation and promoting equitable access to sustainable technologies. Drawing from Indonesian laws on intellectual property and international frameworks, the paper investigates the extent to which Indonesia's legal regime accommodates intellectual property release mechanisms like compulsory licensing, patent pools, and creative commons. Using a normative legal research method, this study identifies the gaps and opportunities in Indonesia's intellectual property regime. It emphasizes the critical role of stakeholders such as corporations, the government, and international organizations in matching intellectual property protection strategies with sustainability objectives. Companies as intellectual property owners are urged to adopt sustainability-oriented approaches that integrate intellectual property release while safeguarding their commercial interests. Governments are encouraged to implement supportive policies, including incentives and regulations, to promote technology sharing. Furthermore, global entities like WIPO are called upon to foster international frameworks that prioritize sustainable development. Ultimately, this paper advocates for a collaborative, multi-stakeholder approach to ensure intellectual property systems advance innovation while addressing urgent environmental and social challenges.

Minority Shareholders Activism in Family Firms: A Comparative Study of Indonesian and South Korean Law Widjaja, Jesslyn; Prisandani, Ulya Yasmine
Hang Tuah Law Journal VOLUME 9 ISSUE 2, OCTOBER 2025
Publisher : Fakultas Hukum Universitas Hang Tuah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30649/htlj.v9i1.261

Family firms significantly contribute to the economies of Indonesia and South Korea. Despite their importance, these firms face challenges related to succession and minority shareholder rights. Indonesia lacks a robust regulatory framework for minority shareholder activism, relying primarily on the Indonesian Company Law despite the existence of the General Guidelines for Governance of Indonesian Family-Owned Businesses. In contrast, South Korea's chaebols, large family-controlled conglomerates, face stricter regulatory oversight to protect minority shareholders, including the Monopoly Regulation and FairTrade Act and the Korean Stewardship Code. Therefore, this paper aims to find the differences between Indonesian and South Korean legal regime on the minority shareholder activism regulation for family firms, while also aiming to bring practical policy suggestions. To achieve such purpose, this study employs a juridical legal method with comparative approach. The study provides comparative analysis from the two different jurisdictions based on its regulations, and suggesting that providing stricter regulation on institutional investors for family-firms, as well as adding the guidelines with more specific recommendation for minority shareholding member of family firms may help in promoting a more equitable corporate governance regime in family-owned businesses.

GREENWASHING AS CONTRACTUAL FRAUD: EXAMINING ITS LEGAL IMPLICATIONS AND IMPACT ON CONTRACT VALIDITY UNDER INDONESIAN LAW Prisandani, Ulya Yasmine
Diponegoro Law Review Vol 10, No 1 (2025): Diponegoro Law Review April 2025
Publisher : Fakultas Hukum, Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/dilrev.10.1.2025.68-84

Greenwashing, the practice of making false or exaggerated environmental claims to deceive consumers, has emerged as a pressing issue in various industries. This study explores the legal implications of greenwashing under Indonesian law, particularly its impact on the validity of contracts. Utilizing a normative legal research methodology, this paper examines the gap in Indonesian regulations regarding greenwashing, highlighting its connection to deceptive marketing and contractual fraud. According to the Indonesian Civil Code, contracts are only valid if there is mutual consent between the parties. Greenwashing, by distorting the truth about a product or service's environmental impact, undermines this essential element of consensus, potentially rendering contracts voidable. This research draws parallels between greenwashing and contractual fraud, explaining how deceptive claims can mislead parties, disrupting their agreement and affecting the contract’s legitimacy. Furthermore, the paper analyzes how greenwashing can be classified as fraud under the Indonesian Criminal Code, with implications for both civil and criminal liability. Despite the lack of specific regulations addressing greenwashing, the study proposes that its deceptive nature should be treated as a distinct legal issue, separate from general fraud. It also emphasizes the need for legal reforms to protect consumers and ensure that companies are held accountable for their environmental claims. The study concludes by advocating for stricter regulations and oversight mechanisms to mitigate the environmental and financial harm caused by greenwashing in Indonesia.

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