CSR is an activity that provides broader benefits in various social aspects such as education, health, community empowerment or environmental preservation. CSR actions applied as a strategy will only cause irregularities in the use of funds owned by the company which can trigger to damage to the company's financial performance. This is thought to be due to the fact that there are quite a lot of funds budgeted with the CSR implementation which is not supervised, which causes inefficiency. This study aims to determine and analyze the provisions of the laws and regulations that govern CSR related to the obligations of Limited Liability Companies in the Indonesian legal system and to find out and analyze the implementation of company obligations to implement CSR in Indonesia and find solutions to corporate liability arrangements such as Limited Liability Companies (PT), Enterprises. Micro, Small and Medium Enterprises (UMKM) and other businesses carry out CSR to be useful in accordance with that CSR. The approach used is the Legislative Law approach and the case approach. From the research results it is known that 1). CSR regulations concerning the obligation of PT to implement it in the Indonesian legal framework are regulated in several laws but there are 2 (two) laws that specifically regulate CSR but the two laws are inconsistent with regard to sanctions if these obligations are violated, 2) Implementation of PT obligations implementing CSR in Indonesia is a program carried out by the company that is not in accordance with the community needs, is carried out individually, is moving and it’s not sustainable, there is no provision that regulates the amount of funds and there is no supervision from the local government in managing CSR. The occurrence of overlapping laws and regulations so that the implementation of the CSR program does not match the policies issued by the local government. CSR funds are misused and even corrupted by local officials and there is no evaluation by the company because it is more concerned with profit in carrying out CSR. 3). Regulating company obligations such as Limited Liability Companies (PT), Micro, Small and Medium Enterprises (MSMEs) and other businesses implementing CSR so that it is useful, it is necessary to establish a state institution that manages CSR and accommodates the companies’, government’s and society interests so that the CSR program can run efficiently, precisely targeted and continuously.
{"title":"Corporate Social Responsibility (CSR) Efficiency Approach with the Establishment of a State Institution Managing Funding and CSR Programs","authors":"Agustinus Soetrisno","doi":"10.19166/glr.v1i1.2809","DOIUrl":"https://doi.org/10.19166/glr.v1i1.2809","url":null,"abstract":"CSR is an activity that provides broader benefits in various social aspects such as education, health, community empowerment or environmental preservation. CSR actions applied as a strategy will only cause irregularities in the use of funds owned by the company which can trigger to damage to the company's financial performance. This is thought to be due to the fact that there are quite a lot of funds budgeted with the CSR implementation which is not supervised, which causes inefficiency. This study aims to determine and analyze the provisions of the laws and regulations that govern CSR related to the obligations of Limited Liability Companies in the Indonesian legal system and to find out and analyze the implementation of company obligations to implement CSR in Indonesia and find solutions to corporate liability arrangements such as Limited Liability Companies (PT), Enterprises. Micro, Small and Medium Enterprises (UMKM) and other businesses carry out CSR to be useful in accordance with that CSR. The approach used is the Legislative Law approach and the case approach. From the research results it is known that 1). CSR regulations concerning the obligation of PT to implement it in the Indonesian legal framework are regulated in several laws but there are 2 (two) laws that specifically regulate CSR but the two laws are inconsistent with regard to sanctions if these obligations are violated, 2) Implementation of PT obligations implementing CSR in Indonesia is a program carried out by the company that is not in accordance with the community needs, is carried out individually, is moving and it’s not sustainable, there is no provision that regulates the amount of funds and there is no supervision from the local government in managing CSR. The occurrence of overlapping laws and regulations so that the implementation of the CSR program does not match the policies issued by the local government. CSR funds are misused and even corrupted by local officials and there is no evaluation by the company because it is more concerned with profit in carrying out CSR. 3). Regulating company obligations such as Limited Liability Companies (PT), Micro, Small and Medium Enterprises (MSMEs) and other businesses implementing CSR so that it is useful, it is necessary to establish a state institution that manages CSR and accommodates the companies’, government’s and society interests so that the CSR program can run efficiently, precisely targeted and continuously.","PeriodicalId":344294,"journal":{"name":"Global Legal Review","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124742836","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The status of state finance is related to the legal consequences which occur and must be borne by the parties. The legal position of state finances will also determine any loss of the state finances which occur as a result of a business decision made by SOE. Business decision made by the Board of Directors of a company has significant impacts on the performance of a Limited Liability Company (LLC) such as revenue and increased value of the company. In order to generate profit, the Board of Directors must be able to take appropriate corporate action. The Board of Directors of LLC often takes future value action by performing risky action which may damage the company in expectation of the highest possible profit for the company in the future. In the context of SOE management is often viewed as detrimental to state finances because it’s considered corporate crime which ends with corruption. Problems occur when performing assessment of state loss as SOE and Law Enforcers have different perspectives. Law Enforcers often can’t see the future value of a corporate action taken by an SOE Persero. The problem in this paper is what is the Legal Policy of Regulating the Concept of Future Value in Determining State Financial Loss? The research method was judicial normative, which is a study that emphasizes the usage of written legal norms which are related to the source’s perception and view. The research result showed that policy related with future value transaction performed by the Board of Directors of SOE (LLC) incorporate action for the future interest of the company should be viewed as an action by the Board of Directors of SOE to realize the vision and mission of SOE, not as state financial loss if the value of the business loss is smaller than the profit generated by SOE and doesn’t affect state capital (state assets) which is deposited to SOE.
{"title":"The Legal Policy of Regulating the Concept of Future Value Amid the Discourse on State Finances in State-Owned Enterprises","authors":"Dewi Lestari Djalal","doi":"10.19166/glr.v1i1.2830","DOIUrl":"https://doi.org/10.19166/glr.v1i1.2830","url":null,"abstract":"The status of state finance is related to the legal consequences which occur and must be borne by the parties. The legal position of state finances will also determine any loss of the state finances which occur as a result of a business decision made by SOE. Business decision made by the Board of Directors of a company has significant impacts on the performance of a Limited Liability Company (LLC) such as revenue and increased value of the company. In order to generate profit, the Board of Directors must be able to take appropriate corporate action. The Board of Directors of LLC often takes future value action by performing risky action which may damage the company in expectation of the highest possible profit for the company in the future. In the context of SOE management is often viewed as detrimental to state finances because it’s considered corporate crime which ends with corruption. Problems occur when performing assessment of state loss as SOE and Law Enforcers have different perspectives. Law Enforcers often can’t see the future value of a corporate action taken by an SOE Persero. The problem in this paper is what is the Legal Policy of Regulating the Concept of Future Value in Determining State Financial Loss? The research method was judicial normative, which is a study that emphasizes the usage of written legal norms which are related to the source’s perception and view. The research result showed that policy related with future value transaction performed by the Board of Directors of SOE (LLC) incorporate action for the future interest of the company should be viewed as an action by the Board of Directors of SOE to realize the vision and mission of SOE, not as state financial loss if the value of the business loss is smaller than the profit generated by SOE and doesn’t affect state capital (state assets) which is deposited to SOE.","PeriodicalId":344294,"journal":{"name":"Global Legal Review","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126081476","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In 2014, Indonesia introduced a more progressive law to ease foreign investment in plantations. This policy seems to resuscitate the legacy of the plantation during colonial times as a source of state revenue. This law however has not signified the increases in plantation companies. One of the major causes has been an inadequate quality of contracts such as lack of transparency, participation, and coherence. In practice, the plantation contract still utilizes the outdated uniform contract based on the 18th century Civil Code adopted from the Dutch Civil Code. These have challenged certainty and enforceability. In line with the liberation of plantations in developing nations, the International Institute for Unification of Private law (UNIDORIT) is drafting the universal guideline for a responsible agricultural land investment contract. The guideline aims at providing the model of a responsible agricultural land investment contract. The model contract considers a broad range of social, political, economic, and cultural aspects to ensure that stakeholders' interests are respected while it also needs to adhere to global issues, such as food security, poverty elevation, and environmental preservation. The article is part of a study attempting to explore the deficiencies of the existing plantation contract and to seek the potential adoption of the UNIDROIT guideline in Indonesia. There are multi-facet challenges to adopt the UNIDROIT guideline as the stakeholders and legal counsel capacity are still limited. Those result in complexity during the agricultural land dispute settlement process in which non-legal factors contribute to its success. This article explores to map the potential issues and to propose a model of more effective agricultural land dispute settlement.
{"title":"Securing Agricultural Land Investment Contract: Resolving Salient Agricultural Land Dispute in Indonesia","authors":"Antarin Prasanthi Sigit, D. Daryono","doi":"10.19166/glr.v1i1.2939","DOIUrl":"https://doi.org/10.19166/glr.v1i1.2939","url":null,"abstract":"In 2014, Indonesia introduced a more progressive law to ease foreign investment in plantations. This policy seems to resuscitate the legacy of the plantation during colonial times as a source of state revenue. This law however has not signified the increases in plantation companies. One of the major causes has been an inadequate quality of contracts such as lack of transparency, participation, and coherence. In practice, the plantation contract still utilizes the outdated uniform contract based on the 18th century Civil Code adopted from the Dutch Civil Code. These have challenged certainty and enforceability. In line with the liberation of plantations in developing nations, the International Institute for Unification of Private law (UNIDORIT) is drafting the universal guideline for a responsible agricultural land investment contract. The guideline aims at providing the model of a responsible agricultural land investment contract. The model contract considers a broad range of social, political, economic, and cultural aspects to ensure that stakeholders' interests are respected while it also needs to adhere to global issues, such as food security, poverty elevation, and environmental preservation. The article is part of a study attempting to explore the deficiencies of the existing plantation contract and to seek the potential adoption of the UNIDROIT guideline in Indonesia. There are multi-facet challenges to adopt the UNIDROIT guideline as the stakeholders and legal counsel capacity are still limited. Those result in complexity during the agricultural land dispute settlement process in which non-legal factors contribute to its success. This article explores to map the potential issues and to propose a model of more effective agricultural land dispute settlement.","PeriodicalId":344294,"journal":{"name":"Global Legal Review","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117005055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Technological advancement has created new business practices such as utilizing electronic contracts. Utilization of electronic contracts, especially in international transactions, has pushed countries around the world to impose new regulations defining the legalities of electronic instruments. Challenges arise considering the global and borderless nature of electronic transactions faced with regulations of different countries that are not in sync with each other. This is especially apparent in Member States of the ASEAN Economic Community. This paper attempts to discover the ideal legal framework for electronic contracts in the ASEAN Economic Community. Based on the research and analysis, it has been found that there is a need for a harmonized legal framework regarding electronic commerce that can be adopted unaltered by Member States of the ASEAN Economic Community, which could be drafted by the ASEAN as an inter-governmental organization.
{"title":"Harmonization of Laws on Electronic Contracts Based on International Instruments for the ASEAN Economic Community","authors":"Andrew Betlehn","doi":"10.19166/glr.v1i1.2800","DOIUrl":"https://doi.org/10.19166/glr.v1i1.2800","url":null,"abstract":"Technological advancement has created new business practices such as utilizing electronic contracts. Utilization of electronic contracts, especially in international transactions, has pushed countries around the world to impose new regulations defining the legalities of electronic instruments. Challenges arise considering the global and borderless nature of electronic transactions faced with regulations of different countries that are not in sync with each other. This is especially apparent in Member States of the ASEAN Economic Community. This paper attempts to discover the ideal legal framework for electronic contracts in the ASEAN Economic Community. Based on the research and analysis, it has been found that there is a need for a harmonized legal framework regarding electronic commerce that can be adopted unaltered by Member States of the ASEAN Economic Community, which could be drafted by the ASEAN as an inter-governmental organization.","PeriodicalId":344294,"journal":{"name":"Global Legal Review","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130780265","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Fiduciary guarantee constitute a type of guarantee commonly used by the business society to obtain loan from Banks or other financial institutions. Administratively, since the government established an electronic fiduciary registration system, the system has in fact, not been fully supported by appropriate legal grounds. This research aims to explore and analyze regulations regarding the legal status of fiduciary agreements along with its electronic registration system and the role of Notary Public with the aim of providing recommendation to the ideal registration system supported by proper laws and regulations. Methodology of this study is based on normative legal research which carried out several approaches such as statutory approach, comparative approach and conseptual approach. The results of the study essentially emphazied the need for amandement and harmonization of Law No. 45/1999 concerning Fiduciary Guarantee as well as its implementing regulations. Ultimately, the Indonesia fiduciary guarantee and its registration system will always in harmony with the values of legal certainty, justice and usefulness.
{"title":"Strengthening Legal Certainty on the Electronic Registration System of Fiduciary Deed in Indonesia","authors":"Maria Pranatia","doi":"10.19166/glr.v1i1.3088","DOIUrl":"https://doi.org/10.19166/glr.v1i1.3088","url":null,"abstract":"Fiduciary guarantee constitute a type of guarantee commonly used by the business society to obtain loan from Banks or other financial institutions. Administratively, since the government established an electronic fiduciary registration system, the system has in fact, not been fully supported by appropriate legal grounds. This research aims to explore and analyze regulations regarding the legal status of fiduciary agreements along with its electronic registration system and the role of Notary Public with the aim of providing recommendation to the ideal registration system supported by proper laws and regulations. Methodology of this study is based on normative legal research which carried out several approaches such as statutory approach, comparative approach and conseptual approach. The results of the study essentially emphazied the need for amandement and harmonization of Law No. 45/1999 concerning Fiduciary Guarantee as well as its implementing regulations. Ultimately, the Indonesia fiduciary guarantee and its registration system will always in harmony with the values of legal certainty, justice and usefulness.","PeriodicalId":344294,"journal":{"name":"Global Legal Review","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126476394","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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