On October 1st, 2018, Ministry Law and Human Right and Coordinating Ministry for Economic Affairs has officially announced the mandatory requirement for all companies to adjust its KBLI code into the KBLI of 2017 by amending the Article of Association on the Chapter of Corporate Purpose and Objective.
This mandatory adjustment is required as the OSS System will be utilizing the KBLI 2017. On the other hand, existing companies are registered under Ministry Law and Human Rights on the KBLI issued before 2017. In order to resolve the problem of inconformity , the Government allocate 1 (one) year of grace period for companies to adjust and re-register their business activities in accord with KBLI 2017, which shall be carried out by amending the Article of Association of the company. Referring to provision of Article 21 paragraph (2) of Law of Limited Liability Company No. 40/2007, the amendment of Purpose and Objective of the Article of Association shall acquire the approval of Minister of Law and Human Rights.
Failure to do so, the Government will have the acquired NIB (Business Registration Number) of a company suspended or temporarily deactivated.
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