THE GUIDELINE OF THE LAW DEVELOPMENT REGARDING THE MEETING AND CONFERENCE CALL UNDER SECTION 1175

Abstract

Company limited is the pattern of business organization which the most popular because the liability of the shareholders is limited to the amount, if any, unpaid on the shares respectively held by them which is the limit the liability or risk in doing business. In addition, the law still provide that the committee of company has a power to manage any activity instead of company, operate according to regulation or objective of company. Moreover, the management of committee have to dependent under the general meeting. However, every power did not belong to only the committee by without controlling, every shareholder has a power to control the managing of committee through the general meeting of shareholder. Therefore, the general meeting of shareholder is the important issue. Although the law specify the form and method of meeting completely consist of the National Council for Peace and Order no. 74/2557 which edit the method of meeting by the meeting through electronic media could be adapted in case of did not stay in the same place. It resulting to economic for capital and time in managing of meeting. On the other hand, this paper found that there are many the legal problem regarding the meeting in company for example; the problem of acceptance on the status of the National Council for Peace and Order to be law, the analysis of the method of meeting via electronic media or the problem of section 1175 under Civil and Commercial Code that is the publication of advertisement and duration of advertisement which accord with the fact. Furthermore, the problem of interpretation of meaning of “any agenda or any issue” including the problem the status of place of meeting by analysis whether it is suitable or not. In conclusion, this study reveal that most respondents understand that the National Council for Peace and Order has a status as law. Nevertheless, there are many laws which promulgate especially the Order no.74/2557 in part of the meeting which most of these respondents agree and accept. Conversely, there are many laws enact, it resulting to all of committee and law’s user did not perceive. Thus, the legislative section should edit the law in order to make a convenience and educate to related people. The law should also revoke the publication in local newspaper by increase the way of publication through website or electronic media, should extend the duration of appointment of meeting not less than 7 days, should clearly specify the definition of any agenda or any issue that which issue did not provide in such agenda and should limit the place of meeting likewise the public limited company law in order that the law regarding the meeting to achieve more efficient and protect the right of shareholder to achieve maximum benefit.