Konflik Antara UU Pasar Modal dan UU Penanaman Modal Berkaitan Dengan Batas Maksimum Kepemilikan Saham oleh Pemodal Asing

• Main Author: Endah Dwi Lintang Asri, 030943006
• Format: Theses and Dissertations NonPeerReviewed
• Language: Indonesian; Indonesian
• Published: 2011
• Subjects: HG4538 Foreign investments; K3154-3370 Constitutional law; KB480 482 Private international law. Conflict of laws
• Online Access: http://repository.unair.ac.id/37993/1/gdlhub-gdl-s2-2011-asriendahd-19669-thb111-k.pdf; http://repository.unair.ac.id/37993/2/gdlhub-gdl-s2-2011-asriendahd-16428-thb1111.pdf; http://repository.unair.ac.id/37993/; http://lib.unair.ac.id
• Institution: Universitas Airlangga

The liberalization of the capital market was characterized by the enactment of the Decree of the Minister of Finance of The Republic of Indonesia Number 455/KMK.01/1997 as the implementing regulation of the Capital Market Law (Indirect Investment), which provides no restrictions on the buying of shares by foreign investors through the capital market. However, the Presidential Regulation Number 36 of 2010 as implementing regulation of Investment Law (Direct Investment), regulates the maximum limit of shareholding by foreign investors in accordance with the Investment Negative List (Daftar Negatif Investasi – DNI). Both of such regulations creates legal conflict, regarding the maximum limit of shareholding by foreign investors which certainly may interferes the legal certainty in investing in Indonesia. Upon such legal conflict, a legal research has been performed by using statute approach and conseptual approach. The result of legal analysis concludes that the ownership of shares by the foreign investor, whom have made it as a controlling shareholder, can be subject to the provisions of DNI. While the ownership of shares by foreign investors, who aim only to getcapital gains, can not be subject to the provisions of DNI.