scholarly journals PENERBITAN SAHAM BANK BUMD TERBUKA TANPA HAK MEMESAN EFEK TERLEBIH DAHULU DIHUBUNGKAN DENGAN FUNGSI PASAR MODAL SEBAGAI ALTERNATIF PEMBIAYAAN PERUSAHAAN DAN INVESTASI

2020 ◽  
Vol 2 (1) ◽  
pp. 1-20
Author(s):  
Nia Kania ◽  
R Kartikasari ◽  
Etty Djukardi
Keyword(s):  
Local Government ◽  
Capital Market ◽  
Market Price ◽  
Legal Protection ◽  
Market Regulation ◽  
Legal Certainty ◽  
Government Investment ◽  
Capital Market Regulation ◽  
The Government ◽  
Owned Company

ABSTRAK Salah satu fungsi utama pasar modal adalah sebagai salah satu alternatif pembiayaan bagi perseroan atau investasi, Perseroan terbuka dapat melaksanakan penambahan modal dengan menerbitkan lembar saham baru di pasar modal melalui mekanisme Hak Memesan Efek Terlebih Dahulu atau melalui mekanisme Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu (selanjutnya disebut PMTHMETD). Namun demikian karena mayoritas pemegang saham BUMD adalah Pemerintah Daerah, terdapat ketidakharmonisan antara regulasi yang berlaku di pasar modal untuk aksi korporasi penambahan modal perusahaan dengan regulasi yang berlaku untuk pelaksanaan investasi Pemerintah Daerah sehingga menjadi kendala dalam pelaksanaannya. Penelitian ini bersifat deskriptif analitis dengan menggunakan pendekatan yuridis normatif. Hasil penelitian menunjukkan urgensi pemerintah untuk menyelaraskan regulasi yang berlaku dalam investasi pemerintah daerah dengan aturan yang berlaku di pasar modal mengingat terdapatnya BUMD berstatus perusahaan terbuka, selain itu BUMD berstatus terbuka dalam melakukan aksi korporasi penambahan modal selain PMT HMETD dapat melalui mekanisme HMETD untuk meminimalisir adanya risiko harga eksekusi yang lebih tinggi dari harga pasar. Belum adanya payung hukum yang tegas dalam regulasi investasi pemerintah daerah pada BUMD berstatus perusahaan terbuka tidak mencerminkan asas kepastian hukum, yaitu bagi pemerintah daerah selaku investor dan BUMD itu sendiri sebagai perusahaan terbuka. Kata kunci: BUMD terbuka; kepastian hukum; pasar modal; PMT HMETD. ABSTRACT One of the main functions of capital market is as an alternative financing for a company or investment, a public company can carry out additional capital by issuing new shares through rights issue or through the mechanism of “Without Pre-emptive Rights” (PMTHMETD). However, because the majority of shareholders are Regional Governments, there is a gap between capital market regulation with Local Government investment regulation, so it becomes an obstacle in its implementation. This research is a descriptive analytical study using a normative juridical approach. The results show the urgency of the government to harmonize applicable regulations in the implementation of local government investment with capital market regulation considering there are Public Listed Regional Owned Company, however Public Listed Regional Owned Company in carrying out corporate actions can increase capital through the “with pre-emptive rights” or HMETD mechanism to minimize the risk of execution price which is higher than the market price. The absence of a firm legal protection in the regulation of local government investment in Public listed Regional Owned Company does not reflect the principle of legal certainty, namely for the local government as an investor and the Regional Owned Company itself as a public listed company.Keywords: capital market; legal certainty; Non Pre-emptive Rights; public listed regional owned company

scholarly journals THE PRINCIPLE’S RULE OF NO PAR VALUE SHARES OF TRADING IN STOCK

2015 ◽  
Vol 15 (2) ◽  
Author(s):  
Nur Sayidah ◽  
Ida Keriahenta Silalahi
Keyword(s):  
Capital Market ◽  
Research Method ◽  
Legal Protection ◽  
Company Law ◽  
Market Regulation ◽  
Legal Certainty ◽  
Normative Approach ◽  
The World ◽  
Global Nature ◽  
Capital Market Regulation

Regulation of no par value shares in Indonesia is necessary because the stock market can not apply article 31 paragraph (2) of the Company Law number 40, 2007 because there is no further adjustment. This condition are known with the legal vacuum. The purpose of this article is to find the model of no par value shares regulation in Indonesia Capital Market. Further regulation of no par value shares is needed to fulfill this legal vacuum.  Research method in this artikel is using normative approach.  The results show that regulation of no par value share must fulfill four principles. There are (a) the principle of workable (b) the principle of global nature (compatible for domestic exchange rules  and the world exchange rules), (c) the principle of legal certainty in justice (d) the principle of legal protection. Keywords: capital market, regulation, principle.

scholarly journals ESENSI TRANSPARANSI DAN AKUNTABILITASI DALAM PENDAFTARAN TANAH DALAM SISTEM HUKUM INDONESIA

2018 ◽  
Vol 21 (1) ◽  
pp. 1-10
Author(s):  
Deselfia D N M Sahari
Keyword(s):  
Local Government ◽  
Legal System ◽  
Government Regulation ◽  
Legal Protection ◽  
Land Rights ◽  
Regional Government ◽  
Legal Certainty ◽  
Land Registration ◽  
Positive Tendency ◽  
The Government

The essence of transparency and accountability in land registration within the legal system in Indonesia has not been realized properly. Due to the weakness of the guarantee of legal certainty and legal protection from the government.  In addition, the publication system of land registration adopted is negative with a positive tendency, not applied in Article 32 paragraph (2) of Government Regulation Number 24 Year 1997 regarding expiration to file a five-year lawsuit there is a synchronization / non-harmonization concerning land authority between local government Article 14 paragraph (2 ) Letter k of Law Number 23 Year 2014 regarding Regional Government and Authority of National Land Agency (Regulation of Head of National Land Agency No.2 Year 2013 regarding Abundance of Land Rights and Land Registration Authority) and regulation of grace period of entitlement right. AbstrakEsensi transparansi dan akuntabilitas dalam pendaftaran tanah dalam sistem hukum di Indonesia belum terealisasi dengan baik. Karena lemahnya jaminan kepastian hukum dan perlindungan hukum dari pemerintah. Selain itu, sistem publikasi pendaftaran tanah yang diadopsi negatif dengan kecenderungan positif, tidak diterapkan dalam Pasal 32 ayat (2) Peraturan Pemerintah Nomor 24 Tahun 1997 tentang berakhirnya pengajuan gugatan lima tahun ada sinkronisasi / non-harmonisasi tentang kewenangan pertanahan antar pemerintah daerah Pasal 14 ayat (2) Huruf k Undang-Undang Nomor 23 Tahun 2014 tentang Pemerintahan Daerah dan Kewenangan Badan Pertanahan Nasional (Peraturan Kepala Badan Pertanahan Nasional No.2 Tahun 2013 tentang Kelimpahan Hak atas Tanah dan Pendaftaran Tanah Otoritas) dan peraturan masa tenggang hak cipta. Kata kunci: Transparansi; Akuntabilitas; Pendaftaran Tanah; Sistem Hukum;

scholarly journals ESENSI TRANSPARANSI DAN AKUNTABILITASI DALAM PENDAFTARAN TANAH DALAM SISTEM HUKUM INDONESIA

2018 ◽  
Vol 21 (1) ◽  
pp. 1-10
Author(s):  
Deselfia D N M Sahari
Keyword(s):  
Local Government ◽  
Legal System ◽  
Government Regulation ◽  
Legal Protection ◽  
Land Rights ◽  
Regional Government ◽  
Legal Certainty ◽  
Land Registration ◽  
Positive Tendency ◽  
The Government

The essence of transparency and accountability in land registration within the legal system in Indonesia has not been realized properly. Due to the weakness of the guarantee of legal certainty and legal protection from the government.  In addition, the publication system of land registration adopted is negative with a positive tendency, not applied in Article 32 paragraph (2) of Government Regulation Number 24 Year 1997 regarding expiration to file a five-year lawsuit there is a synchronization / non-harmonization concerning land authority between local government Article 14 paragraph (2 ) Letter k of Law Number 23 Year 2014 regarding Regional Government and Authority of National Land Agency (Regulation of Head of National Land Agency No.2 Year 2013 regarding Abundance of Land Rights and Land Registration Authority) and regulation of grace period of entitlement right. AbstrakEsensi transparansi dan akuntabilitas dalam pendaftaran tanah dalam sistem hukum di Indonesia belum terealisasi dengan baik. Karena lemahnya jaminan kepastian hukum dan perlindungan hukum dari pemerintah. Selain itu, sistem publikasi pendaftaran tanah yang diadopsi negatif dengan kecenderungan positif, tidak diterapkan dalam Pasal 32 ayat (2) Peraturan Pemerintah Nomor 24 Tahun 1997 tentang berakhirnya pengajuan gugatan lima tahun ada sinkronisasi / non-harmonisasi tentang kewenangan pertanahan antar pemerintah daerah Pasal 14 ayat (2) Huruf k Undang-Undang Nomor 23 Tahun 2014 tentang Pemerintahan Daerah dan Kewenangan Badan Pertanahan Nasional (Peraturan Kepala Badan Pertanahan Nasional No.2 Tahun 2013 tentang Kelimpahan Hak atas Tanah dan Pendaftaran Tanah Otoritas) dan peraturan masa tenggang hak cipta. Kata kunci: Transparansi; Akuntabilitas; Pendaftaran Tanah; Sistem Hukum;

HUKUM DAN TEKLOGI SUATU KAJIAN TEORITIS TERHADAP PENOMENA LAYANAN TRANSFORTASI ONLINE

2017 ◽  
Vol 6 (1) ◽  
pp. 20
Author(s):  
Aria Dimas Harapan
Keyword(s):  
Economic Growth ◽  
Theoretical Study ◽  
Legal Protection ◽  
Creative Economy ◽  
Legal Certainty ◽  
The People ◽  
The Government ◽  
The Times

ABSTRACTThe essence of this study describes the theoretical study of the phenomenon transfortation services online. Advances in technology have changed the habits of the people to use online transfortation In fact despite legal protection in the service based services transfortation technological sophistication has not been formed and it became warm conversation among jurists. This study uses normative juridical research. This study found that the first, the Government must accommodate transfotation online phenomenon in the form of rules that provide legal certainty; second, transfortation online as part of the demands of the times based on technology; third, transfortation online as part of the creative economy for economic growth . 

Pelaksanaan Pencatatan Blokir Sertipikat Hak Atas Tanah (Studi di Kantor Pertanahan Kabupaten Sleman dan Bantul)

Tunas Agraria ◽  
2019 ◽  
Vol 2 (2) ◽  
pp. 117-135
Author(s):  
Anisa Sekarsari ◽  
Haryo Budhiawan ◽  
Akur Nurasa
Keyword(s):  
Legal Protection ◽  
Land Rights ◽  
Legal Certainty ◽  
Land Registration ◽  
Land Dispute ◽  
Time Period ◽  
Recording Process ◽  
Potential Loss ◽  
The Government

Abstract: In order to give the assurance of legal certainty, certainty of rights and legal protection to holders and owners of land rights, the land registration shall be carried out. However, there is still a land dispute which now become a homework for The Government. This is because the certificate which should be a strong evidentiary can not guaranteed the legal certainty for the owner, so the person who right the land can blocking the certificate of land rights at Land Office. The issuance of Regulation Minister of Agrarian Affairs and Spatial / Head of National Land Office Number 13 Year of 2017 concerning the Procedures of Block and Sita which expected to create uniformity, standardization in recording process and abolition of registration blocked, it turns out not all the rules can be implemented at The Land Office of Sleman and Bantul Regency.The result of this research shows that blocking certificate process at Sleman Land Office and Bantul Land Office have a policy that the applicant is required to pay the blocking recording fee after the blocking received. Makes a potential loss to the (PNBP) which should be owned by Land Office for faced the problem of KKPweb application which have not been able to accomodate the time period of blocking. Keywords : blocking certificate, blocking, registration blocked Intisari: Dalam rangka memberikan jaminan kepastian hukum dan kepastian hak serta perlindungan hukum kepada pemegang dan pemilik hak atas tanah, maka dilaksanakan pendaftaran tanah. Namun demikian, masih saja terjadi sengketa pertanahan yang saat ini menjadi pekerjaan rumah bagi Pemerintah. Hal ini disebabkan karena, sertipikat sebagai alat pembuktian yang kuat ternyata belum menjamin kepastian hukum pemiliknya sehingga pihak yang merasa berhak atas tanah tersebut dapat melakukan blokir sertipikat hak atas tanah di Kantor Pertanahan. Dikeluarkannya Permen ATR/Kepala Nomor 13 Tahun 2017 tentang Tata Cara Blokir dan Sita yang diharapkan bertujuan untuk mewujudkan keseragaman, standarisasi dalam pelaksanaan pencatatan dan penghapusan catatan blokir ternyata tidak semua peraturan tersebut dapat dilaksanakan di Kantor Pertanahan Kabupaten Sleman dan Bantul. Hasil penelitian menunjukan bahwa pelaksanaan pencatatan blokir di kantor pertanahan Kabupaten Sleman dan Kabupaten Bantul terdapat kebijakan yaitu pemohon diwajibkan membayar biaya pencatatan blokir setelah blokirnya diterima membuat potensial loss terhadap (PNBP) yang seharusnya didapat kantor pertanahan untuk kendala yang dihadapi yaitu Aplikasi KKPweb yang belum dapat mengakomodir jangka waktu blokir. Kata Kunci: blokir sertipikat, pemblokiran, pencatatan blokir

scholarly journals Genesis And Development Of Capital Market In CIS Countries: Cases From Russia, Kazakhstan, And Uzbekistan

2021 ◽  
Vol 58 (1) ◽  
pp. 129-139
Author(s):  
Otabek Narziev
Keyword(s):  
Capital Market ◽  
Legal Framework ◽  
Market Regulation ◽  
Main Research ◽  
Market Formation ◽  
History Of ◽  
Research Questions ◽  
Capital Market Regulation ◽  
Cis Countries ◽  
In Cis

This paper provides the necessary information and analysis for understanding and considering the main research questions and discussions of the research. Notably, this section outlines the background to capital market formation and development in CIS countries through a brief history of the CIS; considers the necessity of capital market and its regulation in CIS countries; reviews the institutional and legal framework of capital market regulation, and analyzes certain problems of capital market development.

scholarly journals SANDERA PAJAK SEBAGAI ALAT PAKSA DALAM PENAGIHAN UTANG PAJAK ( Studi tentang Penegakan Hukum Pajak Melalui Sandera Pajak )

2015 ◽  
Vol 44 (1) ◽  
pp. 69
Author(s):  
Budi Ispriyarso
Keyword(s):  
Research Result ◽  
Legal Protection ◽  
Legal Certainty ◽  
Legal Research ◽  
Tax Collection ◽  
Approach Method ◽  
The Government

Problems found in this study is the reason why the government uses tax hostages in tax collection, how hostage force to used as a tool in the collection of tax debts and how the hostage-taking in terms ofjuridical aspect. The approach method used in this research is the Socio Legal Research. Result is that there are several factors that become a reason for the tax hostage. Government (fiscus) in collecting tax debts with the tax hostages have been carried out in accordance with the provisions of the act . According to aspects of legal certainty, tax hostages in Indonesia has had a legal protection, named Law No. 19 of 2000 as well as some regulatory other aspects . From the legal justice aspect, protection law also granted to taxpayers affected by the gijzeling. From the aspect of expediency, the application of the gijzeling prove to be useful in improving taxpayer compliance.Permasalahan yang terdapat dalam penelitian ini adalah mengapa pemerintah menggunakan sandera pajak  dalam penagihan pajak, bagaimana penyanderaan dipergunakan sebagai alat paksa dalampenagihan utang pajak dan bagaimana penyanderaan ditinjau dari aspek yuridis. Metode Pendekatan yang dipergunakan dalam penelitian ini adalah metode Socio legal Research. Hasil Penelitian adalah ada beberapa faktor yang menjadi alasan dilakukannya penyanderaan pajak. Pemerintah (fiscus) dalam melakukan penagihan utang pajak dengan sandera pajak telah dilakukan sesuai dengan ketentuan undang-undang.Berdasarkan aspek kepastian hukum, sandera pajak di Indonesia telah mempunyai payung hukumnya  yaitu UU Nomor 19 tahun 2000 serta beberapa peraturan lainnya. Dari aspek keadilan, perlindungan hukum juga diberikan kepada wajib pajak yang terkena sandera pajak.Dari aspek kemanfaatan, penerapan sandera pajak bermanfaat dalam peningkatan kepatuhan wajib pajak.

scholarly journals KEDUDUKAN HUKUM PERUSAHAAN BENTUK USAHA TETAP (PERMANENT ESTABLISHMENT) DALAM DIMENSI HUKUM PENANAMAN MODAL DI INDONESIA

2014 ◽  
Vol 3 (3) ◽  
Author(s):  
Putu Ratih Prabandari
Keyword(s):  
Foreign Investment ◽  
Research Method ◽  
Legal Protection ◽  
Legal Certainty ◽  
Permanent Establishment ◽  
Legal Position ◽  
Investment Law ◽  
Rights And Interests ◽  
The Government

Companies with a permanent establishment is a form of a business carried on in Indonesia, carried out either by an individual or entity whose establishment was not done in Indonesia. The company with a permanent establishment differences with the concept of establishment permitted by the Investment Act. Starting from the concept, which raised the question of how the legal position of the company with a permanent establishment in the perspective of the Investment Law. The general objective of this study is an attempt to develop jurisprudence in relation to the company's legal position with a permanent establishment under the Investment Law. This normative research method, to examine the books and legal materials related to the issue under study. Companies with a permanent establishment in Indonesia is foreign investment, it is appropriate for the government is required to provide legal protection to the investors, including protecting the rights and interests of investors in investing in Indonesia. In order for them to get their rights in accordance with the laws mandated, so the investment law are expected to protect the interests of the parties who invest either directly or indirectly involved in Indonesia. Guarantee legal certainty to investors, so the investment is economically capable of generating profits for investors.

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