Recently, the Minister of Law and Human Rights issued Regulation Number 17 of 2017 concerning Procedures for Applications for Company Data Corrections for Limited Liability Companies, Foundations and Associations (New Regulation). In this column we limit our scope to the data corrections in limited liability companies (PT, local shareholders) and PT PMA (foreign shareholders). These corrections are submitted by a notary through the Legal Entity Administration System (SABH).
Applications to company data corrections are subject to the following provisions:
- They can only be made to technical errors and not to errors which would alter the substance of the notary deed;
- Applications must be submitted within 90 days as of the submission of change of company date which contained an error;
- The correction requests are subject to application fees set by the government.
For Limited Liability Companies, data corrections that can be submitted in relation to:
- Taxpayer identification number
- Domicile and/or address
- Company term
- Status of Limited Liability Company
- Type of Limited Liability Company
- Deed number or date
- Purpose and objective
- Capital or shares
- Board of directors or board of commissioners
The corrections may be submitted by the notary which submitted the original data changes. However, in case of unavailability of the notary, the correction may be conducted by another notary which is authorized by the limited liability company by way of power of attorney.
Once the application is submitted, the Directorate General of General Law Administration (Director General) will examine the application. If the examination result is declared complete, the Director General shall proceed with the corrections. If case the application is declared incomplete, the Director General shall submit electronic notification, requesting to complete the documents, which must be completed by the application within 3 working days.
This column is provided by PNB Law Firm Jakarta