Notary's Responsibility to Provide Legal Advision to Prevent Potential Delays in Notification of Merger, Acquisition, And Consolidation Carried Out by Business Actors

Ratmawan Ari Kusnandar

Abstract


This study aims to analyze the legal provisions regarding notification obligations for mergers, acquisitions, and consolidations in Indonesian competition law; the responsibility of notaries in providing legal counseling to business actors regarding such notification obligations; and the construction of company merger deeds made by notaries. This study uses a normative legal research method with a statute approach and a conceptual approach. Secondary data were obtained through a literature study covering primary, secondary, and tertiary legal materials, then analyzed prescriptively using the theoretical foundations of legal responsibility, legal certainty, and legal protection. The results of the study indicate that notification obligations are expressly regulated in Article 28 and Article 29 of Law Number 5 of 1999 in conjunction with Government Regulation Number 57 of 2010 and KPPU Regulation Number 3 of 2023, with a threshold of combined asset value exceeding IDR 2.5 trillion or sales value exceeding IDR 5 trillion, using a post-notification system with a deadline of 30 working days from the transaction's legal effectiveness. Notaries have a professional and legal responsibility of a preventive nature (preventive legal actor) to explain the notification obligation to the Business Competition Supervisory Commission (KPPU), and if negligent, can be held civilly liable under Article 1365 of the Civil Code. The construction of the deed of merger prepared by the notary serves as a volledig bewijs and determines the effective date, which serves as the absolute reference for calculating the notification deadline.


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References


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