Filling the Gaps in the Law of Private Limited Companies in Ethiopia: Law, Contract and or Custom
Issue:
Volume 2, Issue 3, September 2019
Pages:
60-67
Received:
5 September 2019
Accepted:
25 September 2019
Published:
15 October 2019
Abstract: Business people tie themselves under certain form of business organization’s chain and tackle commercial hurdles through collective efforts. In Ethiopia, present day witnessed proliferation of tremendous business organizations in all corners of the country. The structure of business organization chosen may, however, have an impact on how simple it is to obtain finances, how taxes are paid, how accounting records are kept, whether liability of members is limited or unlimited and the ways of. Like other forms of business organizations, Private limited company was introduced in Ethiopia in 1960 when the empire of Ethiopia adopted a comprehensive commercial code for the first time. The 1960 Commercial Code of Ethiopia has recognized six forms of business organization from which private limited company is the most popular and prevalent forms of business organization. Per Article 510/2 of the commercial code of Ethiopia, private limited company is a company whose members are liable only to the extent of their contribution. Yet, commercial code have not sufficiently address the issues of capital maintenance, valuation of in kind contribution, administration of paid up capital, shareholders general meeting, liquidation, founders, and expulsion and/or withdrawal of shareholders. Besides, absence of cross reference to provision of law of Share Company is another worst weakness of law of private limited company. This article has unveiled whether filling the gaps via contract, custom or law is possible. Accordingly, contract can solve the conundrums underlying it by inculcating to articles and memorandum of association, and corporate code of conduct. But, since custom on corporate governance is at an infancy stage, it is tricky to recommend customs as a way out. so the best option is to amend laws on private limited companies in a way that address the existing practical problems associated with such companies so as to make the Ethiopian law compatible with the current global affairs.
Abstract: Business people tie themselves under certain form of business organization’s chain and tackle commercial hurdles through collective efforts. In Ethiopia, present day witnessed proliferation of tremendous business organizations in all corners of the country. The structure of business organization chosen may, however, have an impact on how simple it ...
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Democratization of Public Policy Formulation Process About Revision Oil and Gas Act No. 22 of 2001 on Oil and Gas in Indonesian Legistilative Assembly Commission VII (2014-2017)
Khoirul Anam Gumilar Winata,
Samugyo Ibnu Redjo,
Neneng Yani Yunigsih
Issue:
Volume 2, Issue 3, September 2019
Pages:
68-78
Received:
23 June 2019
Accepted:
23 July 2019
Published:
17 October 2019
Abstract: Oil and Gas Act No. 22 of 2001 is in the processing of revision, because Indonesian Legislative Assembly inquiry committee on the period of 2004-2009 to revise the oil and gas Act and the Constitutional Court Decision No. 36 / PUU-X / 2012 which are states that is oil and gas Act contrary to the Constitutional of Indonesia 1945 in Article 33. Oil and Gas Act was the revision process by the Commission VII of Indonesian Legislative Assembly from start period 2009-2014 up to Indonesian Legislative Assembly 2014-2019 period, which is until now has not completed to the process of revision. How to democratize the process of policy formulation in the Oil and Gas Act Revision Commission VII of Indonesian Legislative Assembly, has not been completed. Commission VII of Indonesian Legislative Assembly is the one who are responsible for the process of policy formulation revision of Oil and Gas Act No. 22 of 2001 should make the process of policy formulation with a democratic, and there is effective participation and equality of the vote, as well as their bright education and inclusion of adults so that the process of policy formulation revision of Oil and Gas Act No. 22 of 2001 running with democratic.
Abstract: Oil and Gas Act No. 22 of 2001 is in the processing of revision, because Indonesian Legislative Assembly inquiry committee on the period of 2004-2009 to revise the oil and gas Act and the Constitutional Court Decision No. 36 / PUU-X / 2012 which are states that is oil and gas Act contrary to the Constitutional of Indonesia 1945 in Article 33. Oil a...
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