The management of Limited Liability Companies in Indonesia refers to the highest legal framework, namely Law Number 40 of 2007 concerning Limited Liability Company. Pursuant to said law, Indonesia adheres to dual board system (two-tier board) in which there is a functional separation between BoC and BoD. In this case, BoC performs the supervisory and advisory functions to BoD, while BoD is authorized and responsible for corporate management. BoC and BoD performs their responsibilities as mandated in the Bylaws and prevailing laws and regulations.
This Board Guidelines is a part of the Code of Corporate Governance referring to the Corporate Bylaws, Laws of Limited Liability Company, and other relevant regulations.