On Friday, 26 March 2021, the Notarial Law Student Association of the Faculty of Law, Universitas Gadjah Mada (FH UGM), in collaboration with the Regional Board of the Indonesian Notary Association (Ikatan Notaris Indonesia/INI) of the Special Region of Yogyakarta, organized a National Webinar entitled "Quo Vadis the Limited Liability Company Law After the Enactment of the Job Creation Law in Relation to the Establishment of Limited Liability Companies.” The event was conducted virtually via Zoom Meeting and livestreamed through the Faculty of Law UGM’s Youtube channel, Kanal Pengetahuan FH UGM.
Thewebinar was moderated by Karina Dwi Nugrahati, S.H., LL.M., M.Dev.Prac. (Adv), and featured presentations from distinguished speakers. The event was divided into two sessions. In the first session, Prof. Dr. Nindyo Pramono, S.H., M.S. discussed the differences between the provisions governing the establishment of limited liability companies under Law No. 40 of 2007 on Limited Liability Companies and Law No. 11 of 2020 on Job Creation. In his presentation, Prof. Nindyo explained that the Limited Liability Company Law had already recognized the concept of a sole-shareholder company, while the Job Creation Law introduced additional provisions concerning Micro and Small Enterprises (MSEs). He further emphasized that, from a philosophical perspective, the Job Creation Law seeks to prepare Indonesia for greater participation in the global economy by facilitating investment while maintaining safeguards through existing regulatory frameworks. Consequently, the introduction of MSE companies is expected to strengthen the competitiveness of Indonesia’s business environment on the global stage.
The second session of the webinar featured Irma Devita Purnamasari, S.H., M.Kn., who discussed the procedures for the establishment, amendment, and dissolution of Micro and Small Enterprise Companies under Law No. 11 of 2020 and Government Regulation No. 8 of 2021. She explained that a Sole-Shareholder Company is recognized as a legal entity despite not requiring an agreement between multiple founders, reflecting an adaptation of concepts commonly found in common law systems. She further highlighted that Sole-Shareholder Companies fall within the category of Micro and Small Enterprise Companies, and that their establishment, amendment, and dissolution can be carried out through electronic declarations.
Throughout the webinar, participants actively engaged with the speakers through a lively question-and-answer session. Participants who posed particularly insightful questions received several door prizes in the form of books authored by Prof. Dr. Nindyo Pramono, S.H., M.S. and Irma Devita Purnamasari, S.H., M.Kn. Through this webinar , participants were expected to gain a deeper understanding of the legal framework governing sole-shareholder companies under both the Limited Liability Company Law and the Job Creation Law, as well as the implications of these developments for business establishment and governance in Indonesia.
