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"ABSTRAKDiundangkannya Peraturan Bank Indonesia tentang Kepemilikan Saham Bank Umum secara tidak langsung telah menciptakan pengecualian untuk melakukan Penawaran Tender Wajib bagi bank yang terdaftar dalam pasar modal. Pengecualian terhadap kewajiban tersebut tidak serta merta menghilangkan kewajiban bank sebagai perseroan untuk melindungi kepentingan pemegang saham minoritas.

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ABSTRACtThe enactment of Bank Indonesia Regulation on the Shares Ownership of Commercial Bank creates an indirect exemption to exercise the obligation of Mandatory Tender Offer for bank listed in capital market. The exemption over the obligation doesn’t necessarily relieve bank’s obligation as a limited company to protect the interest of minority shareholders."

"ABSTRAKTesis ini membahas mengenai liberalisasi kepemilikan modal asing pada bank suatu bank umum di Indonesia. Pada awalnya, hal ini diimplementasikan sebagai salah satu komitmen Indonesia sebagai anggota GATS-WTO. Namun, ketika timbul adanya kebutuhan akan modal yang dikarenakan krisis moneter yang dialami Indonesia pada akhir tahun 1990-an, maka batasan kepemilikan modal oleh pihak asing di suatu bank ditingkatkan menjadi maksimal 99 persen. Melihat kondisi seperti itu, jelas membuat pihak asing berbondong-bondong menginvestasikan dananya ke dalam industri perbankan Indonesia. Hal ini terus berlanjut hingga saat ini. Oleh karena itu, penulis tertarik untuk membahas bagaimana ketentuan batasan kepemilikan modal asing pada bank umum dengan menganalisis peraturan dan perundang-undangan yang berlaku. Perlindungan terhadap kepentingan nasional juga akan dibahas, mengingat sektor perbankan merupakan penggerak roda perekonomian nasional, di mana hal ini ditujukan untuk melindungi dan memacu peran dan daya saing pihak lokal. Untuk melihat bagaimana implementasi dan dampak dari ketentuan kepemilikan modal asing pada bank umum, maka penulis tertarik untuk menganalisis akuisisi Bank NISP oleh OCBC Bank (Singapura) yang dilakukan secara bertahap. Deskripsi yang akan disampaikan termasuk pemaparan kinerja perusahaan untuk periode lima tahun terakhir pasca masa akuisisi. Untuk meneliti permasalahan tersebut, metode penelitian yang dipakai adalah studi kepustakaan dengan penggunaan data sekunder, seperti peraturan dan perundang-undangan, literatur, dan data aktual yang berkaitan dengan Bank OCBC NISP. Dari hasil penelitian, penulis mengetahui bahwa ketentuan kepemilikan modal asing dengan perlindungan kepentingan nasional diatur pada beberapa peraturan dan perundang-undangan, baik internasional maupun nasional, seperti GATS dan Schedule of Commitments Indonesia di GATS-WTO, Undang-Undang Perbankan, dan beberapa Peraturan Bank Indonesia.

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ABSTRACTThis thesis discusses the liberalization of foreign ownership in a commercial bank in Indonesia. At first, it is implemented as one of Indonesia's commitment as a GATS-WTO member. However, when the need for capital arises due to the financial crisis experienced by Indonesia in the late 1990s, the definition of capital ownership by foreigners in the bank increased to a maximum of 99 percent. Seeing such conditions clearly makes foreigners flocking to invest in the Indonesian banking industry. This continues to this day. Therefore, the author are interested in discussing how the provisions of foreign capital ownership limitation in commercial banks by analyzing the law and regulations in force. Protection of national interests will also be discussed, since the banking sector is a driver of the national economy, where it is intended to protect and promote the role and competitiveness of the local party. To see how the implementation and impact of the provisions of foreign capital ownership in commercial banks, the author are interested in analyzing acquisition by OCBC Bank which is done in gradually. Description will be presented including the company's exposure to the performance of the last five years post-acquisition period. To investigate these issues, the research method used is literature study with the use of secondary data, such as law and regulations, literatures, and the actual data related to Bank OCBC NISP. From the research, the author learned that the provisions of foreign capital ownership with the protection of national interests is set on some law and regulations, both international and national, such as the GATS and Indonesia Schedule of Commitments in GATS-WTO, Banking Law, and several of Bank Indonesia Regulations."

"ABSTRAKIn the current situation acquisition is an instrument that could not be separated in the economy sector particularly in banking sector. Acquisition is the one of many ways that bank to expand their business and also originate the inter-connection that would be facing. Because of that the acquisition of BTPN by SMBC is a challenge to BTPN for expand their self and ready to develop as a huge bank, furthermore, SMBC is a one of the foreign bank which entered to Indonesian market. Based onthe fact that the BTPN itself being acquired through directly by shareholder which could be found hardly in Indonesia banking system. Research methods used in this research is juridical normative. the result of this research is suggesting the government to regulated the acquisition through the shareholder particularly and amendment of prevailing Act in order to compete in international world.

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ABSTRACTDewasa ini Akuisisi merupakan suatu hal yang tidak bisa dilepaskan dalam dunia ekonomi khususnya dalam dunia perbankan. Akuisisi merupakan salah satu cara bank untuk mengembangkan bisnisnya dan juga jalan untuk memperluas jaringan yang akan dihadapi di dunia internasional. Oleh karena itu akuisisi Bank BTPN oleh SMBC merupakan tantangan sendiri untuk BTPN dalam mengembangkan bisnisnya, terlebih lagi, SMBC merupakan bank asing yang memasuki pasar Indonesia. Fakta yang ditemukan bahwa BTPN ini diakuisisi melalui pemegang saham yang dimana jarang sekali dalam dunia perbankan hal ini dilakukan. Metode penelitian yang digunakan pada penulisan ini adalah metode yuridis normative.Hasil dari penelitian in menyarankan agar pemerintah lebih khusus mengatur tentang akuisisi melalui langsung pemegang saham dan juga meamandemenkan undang-undang tentang akusisi sekarang agar dapat bersaing di dunia internasional."

"[Tesis ini membahas mengenai pengaturan tentang pembelian kembalisaham atau yang sering disebut dengan buyback di pasar modal Indonesia yang dilakukan oleh Bank Tbk. yang secara khusus diatur dalam Peraturan Bapepam Nomor XI.B.2, namun dalam kondisi krisis global yang terjadi akhir-akhir ini, Bapepam mengeluarkan peraturan baru yang mengatur mengenai buyback pada kondisi pasar yang berfluktuasi secara signifikan, yaitu Peraturan Otoritas Jasa Keuangan Nomor 2/POJK.04/2013. Peraturan baru tersebut memberi sejumlahkelonggaran dalam pelaksanaan buyback, terutama batas pembelian kembali saham yang dinaikkan menjadi 20% serta tidak perlu meminta persetujuan Rapat Umum Pemegang Saham (“RUPS”) terlebih dahulu. Digunakan metode penelitian kepustakaan yang bertujuan untuk menemukan masalah (problem finding) untuk kemudian menuju pada suatu penelitian untuk mengatasi masalah (problem solution). Permasalahan kemudian tibul dikarenakan adanya kelonggaran tentangkewajiban dilaksanakannya RUPS dalam pelaksanaan buyback saham yang mengakibatkan tersinggungnya / berkurangnya perlindungan terhadap pemegang saham perusahaan karena beralihnya kewenangan RUPS menjadi kewenangan Direksi perusahaan. Selanjutnya, bagaimana apabila setelah melakukan buyback, perseroan tetap mengalami kerugian, sehingga dalam hal ini direksi dapat saja dimintakan pertanggungjawabannya, namun untuk itu harus terlebih dahuludibuktikan bahwa direksi telah melanggar fiduciary duty-nya. Penelitian ini membahas mengenai tata cara dan persyaratan dalam pelaksanaan buyback oleh Bank sebagai emiten atau perusahaan publik berdasarkan Peraturan Bapepam Nomor XI.B.2 dan Peraturan Otoritas Jasa Keuangan Nomor 2/POJK.04/2013, perlindungan pemegang saham dan tanggung jawab Direksi terhadap buyback yang dilakukan oleh perusahaan.;This thesis discusses on regulations related to share buyback by a PublicBank in Indonesian capital market that is specifically regulated in Bapepam Regulation Number XI.B.2, however in the current global crisis conditions, Bapepam has issued new regulations regulating on share buyback in the market conditions which fluctuating significantly, namely Financial Service Authority Regulations (“POJK”) Number 2/POJK.04/2013. Such new regulation gives some flexibilities in the buy back execution, particularly the limit of shares buy backincreased to be 20% and it is not necessary to get prior approval from the General Meeting of Shareholders. In this thesis is used literature research methodology with the aims to find out the problem (problem finding) and then to go to a research to overcome the problem (problem solution). The problem arises when the regulation causes a loose on the company’s obligation in conducting a Shareholders’ Meeting (related to share buyback), thus giving the Borad of Director of the company, on their sole discretion, to conduct share buyback. Thisaction gives an impact to the shareholders’ rights, in the meaning that the shareholders in this case do not have the right to participate nor give votes in the company’s corporate actions (in this case, share buyback). Furthermore, if the share buyback costs losses to the company, the Board of Directors of the company should be asked for its accountability, but to do so, it must be previously provedthat the Board of Directors has violated its fiduciary duty, in which it also corresponds to a doctrine namely the doctrine of business judgment rule. This study discusses the procedures and requirements in the implementation of the share buyback by the Issuer or public company based on Bapepam Regulations Number XI.B.2 and POJK Number 2/POJK.04/2013, the protection towards the company’s shareholders and the responsibility of the Board of Directors towardthe share buyback in relation to the doctrine of business judgment rule;This thesis discusses on regulations related to share buyback by a PublicBank in Indonesian capital market that is specifically regulated in BapepamRegulation Number XI.B.2, however in the current global crisis conditions,Bapepam has issued new regulations regulating on share buyback in the marketconditions which fluctuating significantly, namely Financial Service AuthorityRegulations (“POJK”) Number 2/POJK.04/2013. Such new regulation gives someflexibilities in the buy back execution, particularly the limit of shares buy backincreased to be 20% and it is not necessary to get prior approval from the GeneralMeeting of Shareholders. In this thesis is used literature research methodologywith the aims to find out the problem (problem finding) and then to go to aresearch to overcome the problem (problem solution). The problem arises whenthe regulation causes a loose on the company’s obligation in conducting aShareholders’ Meeting (related to share buyback), thus giving the Borad ofDirector of the company, on their sole discretion, to conduct share buyback. Thisaction gives an impact to the shareholders’ rights, in the meaning that theshareholders in this case do not have the right to participate nor give votes in thecompany’s corporate actions (in this case, share buyback). Furthermore, if theshare buyback costs losses to the company, the Board of Directors of the companyshould be asked for its accountability, but to do so, it must be previously provedthat the Board of Directors has violated its fiduciary duty, in which it alsocorresponds to a doctrine namely the doctrine of business judgment rule. Thisstudy discusses the procedures and requirements in the implementation of theshare buyback by the Issuer or public company based on Bapepam RegulationsNumber XI.B.2 and POJK Number 2/POJK.04/2013, the protection towards thecompany’s shareholders and the responsibility of the Board of Directors towardthe share buyback in relation to the doctrine of business judgment rule, This thesis discusses on regulations related to share buyback by a PublicBank in Indonesian capital market that is specifically regulated in BapepamRegulation Number XI.B.2, however in the current global crisis conditions,Bapepam has issued new regulations regulating on share buyback in the marketconditions which fluctuating significantly, namely Financial Service AuthorityRegulations (“POJK”) Number 2/POJK.04/2013. Such new regulation gives someflexibilities in the buy back execution, particularly the limit of shares buy backincreased to be 20% and it is not necessary to get prior approval from the GeneralMeeting of Shareholders. In this thesis is used literature research methodologywith the aims to find out the problem (problem finding) and then to go to aresearch to overcome the problem (problem solution). The problem arises whenthe regulation causes a loose on the company’s obligation in conducting aShareholders’ Meeting (related to share buyback), thus giving the Borad ofDirector of the company, on their sole discretion, to conduct share buyback. Thisaction gives an impact to the shareholders’ rights, in the meaning that theshareholders in this case do not have the right to participate nor give votes in thecompany’s corporate actions (in this case, share buyback). Furthermore, if theshare buyback costs losses to the company, the Board of Directors of the companyshould be asked for its accountability, but to do so, it must be previously provedthat the Board of Directors has violated its fiduciary duty, in which it alsocorresponds to a doctrine namely the doctrine of business judgment rule. Thisstudy discusses the procedures and requirements in the implementation of theshare buyback by the Issuer or public company based on Bapepam RegulationsNumber XI.B.2 and POJK Number 2/POJK.04/2013, the protection towards thecompany’s shareholders and the responsibility of the Board of Directors towardthe share buyback in relation to the doctrine of business judgment rule]"

"Penelitian ini bertujuan untuk menyelidiki secara empiris dampak sektor keuangan syariah, yaitu perbankan dan pasar modal, pada pertumbuhan ekonomi di Indonesia. Model yang digunakan dalam penelitian ini adalah pendekatan ARDL, error correction model dan granger causality dengan data triwulan dari tahun 2000 hingga 2020. Penelitian ini menemukan bahwa dalam jangka penjang tabungan perbankan syariah berpengaruh positif signifikan terhadap pertumbuhan ekonomi. Begitupun pembiayaan perbankan syariah memiliki pengaruh positif signifikan terhadap pertumbuhan ekonomi. Selanjutnya pasar modal syariah juga memiliki pengaruh positif terhadap pertumbuhan ekonomi namun porsinya sangat sedikit. Penelitian ini juga menemukan hubungan kausalitas antar variabel. Diantaranya tabungan perbankan syariah mendukung feedback hypothesis, sementara pembiayaan perbankan syariah mendukung teori growth – led hypothesis. Namun untuk pasar modal hasil dari hubungan kausalitas menyatakan bahwa tidak ada hubungan antara pasar modal terhadap pertumbuhan ekonomi yang artinya mendukung teori neutrality hypothesis. Hasil penelitian ini diharapkan dapat menjadi acuan dalam memberikan kebijakan yang tepat untuk mempercepat pertumbuhan keuangan syariah di Indonesia, mengingat potensi penduduk muslim yang besar dan prestasi yang telah diperoleh Indonesia di bidang keuangan syariah hingga saat ini.

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This study aims to empirically investigate the impact of the Islamic finance sector, namely banking and capital markets, on economic growth in Indonesia. The model used in this study is the ARDL approach, error correction model and Granger causality with quarterly data from 2000 to 2020. This study found that in the long term Islamic banking savings had a significant positive effect on economic growth. Likewise, Islamic banking financing has a significant positive effect on economic growth. Furthermore, the Islamic capital market also has a positive influence on economic growth but the portion is very small. This study also found a causal relationship between variables. Among them, Islamic banking savings support the feedback hypothesis, while Islamic banking financing supports the growth-led hypothesis. However, for the capital market, the results of a causal relationship state that there is no relationship between the capital market and economic growth, which means that it supports the neutrality hypothesis theory. The results of this study are expected to be a reference in providing the right policies to accelerate the growth of Islamic finance in Indonesia, considering the large potential of the Muslim population and the achievements that Indonesia has obtained in the field of Islamic finance to date."

"Penelitian ini bertujuan untuk menguji hipotesis terkait dengan struktur konsentrasi pasar terhadap profitabilitas perbankan di Indonesia yang terdaftar di Bursa Efek Indonesia selama periode 2007 hingga 2016 dengan menguji hipotesis structure conduct performance (SCP), relative market hypothesis (RMP), efficient structure (ES), and quiet life hypothesis (QL). Concentration ratio (CCR4), Herfindahl Hrischman Index (HHI) dan indeks Lerner (Lerner) digunakan sebagai variabel dalam pengukuran proksi konsentrasi, sedangkan market share (MS) digunakan sebagai pengukuran hipotesis RMP, variabel X-efficiency (XEFF) dan scale efficiency (SEFF) digunakan dalam membuktikan hipotesis ES. Pengukuran variabel XEFF dan SEFF dilakukan dengan menggunakan metode nonparametrik Data Envelopment Analysis (DEA), dan regresi selanjutnya dilakukan dengan menggunakan regresi data panel Generalized Least Square (GLS).Hasil regresi menunjukkan bahwa struktur industri perbankan di Indonesia cenderung semakin terkonsentrasi.Selain itu, berdasarkan hasil analisis yang dilakukan, perbankan di Indonesia tidak berlaku sesuai dengan hipotesis SCP ES, maupun QL, namun cenderung lebih sesuai pada hipotesis RMP.

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This study aims to test the hypothesis related to the market concentration structure on the profitability of banks in Indonesia listed on the Indonesia Stock Exchange during the period 2007 to 2016 by testing the structure conduct performance (SCP), relative market hypothesis (RMP), efficient structure (ES) and quiet life hypothesis (QL). Concentration ratios (CCR4), Herfindahl Hrischman Index (HHI) and Lerner index (Lerner) were used as variables in proxy concentration measurements, while market share (MS) was used as a measurement of RMP hypotheses, X-efficiency (XEFF) and scale efficiency (SEFF ) is used in proving the ES hypothesis. Measurements of XEFF and SEFF variables were performed using nonparametric Data Envelopment Analysis (DEA) methods, and subsequent regression was performed using Generalized Least Square (GLS) panel data regression. Regression results show that the structure of the banking industry in Indonesia tends to be increasingly concentrated. In addition, based on the results of the analysis, banks in Indonesia do not apply in accordance with the hypothesis SCP, ES, or QL, but tend to be more appropriate on the RMP hypothesis."

"Penelitian ini bertujuan menganalisa dampak market power dan regulasi perbankan terhadap pengambilan resiko pada 705 bank di 14 negara Asia-Pasifik dari tahun 2012-2018. Demikian terdapat tiga faktor yaitu main effect market power terhadap pengambilan risiko, main effect regulasi perbankan terhadap pengambilan risiko, serta dampak interaction effect antara market power dan regulasi perbankan terhadap pengambilan risiko. Terdapat delapan jenis pengambilan risiko yang dijadikan variabel dependen. Penelitian ini menggunakan regresi panel dengan model fixed-effects. Penelitian ini menemukan tiga hasil yang penting. Pertama, market power mempunyai dampak meningkatkan pengambilan risiko secara keseluruhan (default risk-taking), namun mengurangi pengambilan risiko portofolio. Hasil ini mendukung teori bahwa adanya dampak negatif dari market power terhadap modal bank. Kedua, penelitian ini menemukan bahwa regulasi kekuatan pengawasan, keketatan permodalan, dan larangan aktivitas memiliki dampak meningkatkan pengambilan risiko. Namun, regulasi lainnya memiliki dampak yang berbeda-beda tergantung tipe pengambilan risiko yang digunakan. Penemuan terakhir adalah adanya dampak mitigasi dari regulasi terhadap pengambilan risiko dengan adanya kenaikan market power pada bank. Selebihnya, terdapat perbedaan dalam penemuan pada negara berpendapatan menengah dan tinggi. Secara kesulurhan, penelitian ini mendukung teori competition-stability pada literatur market power dan private-interest pada literatur regulasi perbankan. Lebih lanjut, penemuan juga mendukung teori market-stealing dan dampak positif regulasi kekuatan pengawas pada pasar perbankan dimana ada tingkat market power yang tinggi.

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This research aims to analyze the impact of market power and banking regulation towards bank risk-taking in 705 banks within 14 Asia-Pacific countries from 2012-2018. In particular it has tests three factors; the main effect of market power towards risk-taking, the main effect of banking regulation towards risk-taking, and the interaction effect between bank market power and banking regulation towards risk-taking. There are eight risk-taking measures (dependent variables) tested in this study. Utilizing a fixed-effects panel regression, there are several main findings of the study. Firstly, it finds that market power has a increasing impact on overall (default) risk-taking, but decreases portfolio risk-taking, and provides evidence for the negative impact of market power on capital. Secondly, it finds that official supervisory power, capital stringency, and activity restrictions regulations tends to also have an increasing effect on risk-taking. However, other regulation tends to have a more varied result depending on the different risk-taking measures. Lastly, while official supervisory power and capital stringency regulation increases overall risk-taking for all banks, this effect is mitigated for higher-market power banks. Furthermore, these results are seen to have differing effects based on the level of income of the countries within the sample. Overall, this research supports the competition-stability view of market power and private-interest view of regulation in banking literature. Furthermore, it provides support for the market-stealing effect for capital regulation and the beneficial impact of official supervisory power in high-market power environments."

"ABSTRAKPenelitian ini bertujuan untuk menganalisis kasus kepatuhan melalui tingkat kepatuhan dan tingkat kualitas penjelasan, juga melihat kasus ketidakpatuhan melalui tingkat kasus ketidakpatuhan keseluruhan tanpa penjelasan dan tingkat kualitas. Penelitian ini menggunakan sampel perusahaan publik non finansial selama periode tahun 2014-2015. Hasil penelitian pada kasus kepatuhan mengindikasikan bahwa perusahaan patuh cenderung memberikan penjelasan yang spesifik sesuai dengan ketentuan yang berlaku sedangkan pada kasus ketidakpatuhan mengindikasikan bahwa kebanyakan perusahaan yang tidak mematuhi peraturan tidak memberikan penjelasan mengapa perusahaan tidak dapat memenuhi kewajibannya. Oleh karena itu, hasil penelitian ini diharapkan dapat mendorong badan pengawas pasar modal untuk membuat panduan pengungkapan yang spesifik bagi perusahaan sehingga hal ini dapat membantu mempermudah pengawasan dan diterapkannya sanksi dari peraturan yang berlaku.

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ABSTRACTThe aim of this research is to analize compliance cases through compliance index and comply or explain index, also non compliance cases through overall index of non compliance cases not explained and quality index. This research uses sample of all non financial public companies for 2014 2015 period. The result in compliance cases indicate that compliant companies tend to disclose specific explanation as required in applicable law while in non compliance cases indicate that the most of non compliant companies did not give explanation why they could not fulfill their obligation. Thus, these findings suggest that the financial service authority need to make specific guidelines for the companies therefore it could help the monitoring process and sanction to be imposed by applicable law. "

"an di Indonesia, karena merupakan salah satu cara untuk memperkuat perbankan Indonesia dan memberikan peluang bagi perbankan Indonesia untuk bersaing di kancah internasional. Akuisisi bank telah ada dan diatur sejak tahun 1999 dengan lahirnya Peraturan Pemerintah No. 28 tahun 1999 tentang Penggabungan, Peleburan, dan Akuisisi Bank. Namun integrasi bank merupakan hal yang relatif baru, apalagi dibandingkan dengan akuisisi, dan dengan telah dialihkannya tugas pengaturan dan pengawasan bank dari Bank Indonesia ke OJK, maka telah dibuat peraturan baru yang tentunya akan merubah bagaimana hal tersebut semula. Sebelumnya, untuk akuisisi dan integrasi bank, kami sekarang mengacu pada POJK No. 41/POJK.03/2019 tentang Penggabungan, Konsolidasi, Akuisisi, Integrasi dan Konversi Bank Umum. Tesis ini berfokus pada konsep akuisisi dan integrasi oleh bank asing serta potensi masalah hukum dan dampak dari tindakan tersebut. Skripsi ini menggunakan metode penelitian yuridis-normatif. Sejalan dengan semakin populernya akusisi dan integrasi bank asing, regulasi dan pengawasan oleh OJK juga perlu disempurnakan, dan juga harus diperhatikan bagaimana dampaknya terhadap pihak-pihak terkait. Oleh karena itu penulis merekomendasikan kepada OJK dan pihak terkait untuk memperbaharui undang-undang terkait yang sudah ketinggalan zaman, namun tidak lupa juga memperhatikan isu hukum atau dampak yang ditimbulkannya.

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Acquisition and integration of banks have been popularized in Indonesia for quite some time, as it is one way to strengthen Indonesian banks and give Indonesian banks a chance to compete on an international stage. Bank acquisitions have been around and regulated since 1999 with Government Regulation No. 28 of 1999 regarding Merger, Consolidation, and Acquisition of Banks. However, bank integration is a relatively new thing, especially compared to acquisition. As the regulatory and supervisory duty of banks has been transferred from Bank Indonesia to OJK, new regulations have been made, which would give a change to how it was back in the day. For acquisition and integration of banks, we now mainly refer to POJK No. 41 of 2019 regarding Merger, Consolidation, Acquisition, Integration, and Conversion of Commercial Banks. This thesis focuses on the concept of acquisition and integration by foreign banks and the potential legal issues and impacts of such acts. This thesis uses the juridical-normative research method. As the act of acquisition and integration of foreign banks becomes more popularized, regulations and supervision by OJK should also be improved, and it should also be kept in mind how it would affect relevant parties. For that reason, the author recommends that OJK and relevant parties update the outdated relevant laws and not forget to take care of the legal issues or impacts from it."

"Pasar modal memiliki fungsi sebagai sarana pendanaan usaha bagi perusahaan untuk mendapatkan dana dari masyarakat. Pasar modal juga berguna untuk pendanaan bagi perusahaan yang telah terdaftar didalam bursa efek dan juga sebagai sarana untuk kegiatan investasi, maka dari itu pasar modal memiliki peran yang penting terhadap perekonomian negara. Didalam kegiatan usaha khususnya perusahaan-perusahaan yang telah terdaftar dalam bursa efek (Perusahaan Terbuka), pada dasarnya ingin selalu berkembang dan mendapatkan keuntungan yang sebesar-besarnya, dengan berjalannya waktu beberapa perusahaan-perusahaan tersebut akan melakukan Akuisisi, Merger, ataupun Konsolidasi terhadap perusahaan lain yang telah diperhitungkan secara matang yang berguna untuk pengembangan usaha maupun ekspansi usaha agar mendapatkan profit yang melimpah. Proses Akuisisi, Merger, dan Konsolidasi membutuhkan peran Notaris dalam hal pembuatan akta otentik, Notaris sebagai pejabat umum yang berwenang membuat akta otentik diatur didalam pasal 1 Undang-Undang Nomor 2 Tahun 2014. Sesuai dengan ketentuan perundang-undangan yang berlaku, notaris yang dapat membuat akta Akuisisi, Merger, dan Konsolidasi perusahaan yang terdaftar dalam efek adalah notaris yang telah terdaftar di Otoritas Jasa Keuangan sesuai dengan Peraturan OJK No. 67 Tahun 2017. Akta otentik sebagai alat bukti terkuat mempunyai peranan penting dalam setiap hubungan hukum dalam kehidupan bermasyarakat. Dalam hubungan berusaha akta otentik menjadi tuntutan akan kepastian hukum dalam berbagai hubungan ekonomi maupun sosial.

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The capital market has a function as a means of business funding for companies to get funds from the public. The capital market is also useful for funding companies listed on the stock exchange and also as a means for investment. Therefore, the capital market has an important role in the country's economy. In business activities, all companies, especially those that have been listed on the stock exchange (public company), basically want to always grow and get the maximum profit. Over time, some companies make acquisitions, mergers, or consolidations of other companies that have been carefully calculated which are useful for business development and business expansion in order to produce abundant profits. The process of acquisition, merger and consolidation requires the role of a notary in making an authentic deed. Notary as public officials authorized to make authentic deeds is regulated in Article 1 of Act Number 2 of 2014. In accordance with the provisions of the applicable legislation, the notary who can make the Deed of acquisition, merger, and consolidation of companies registered in securities are those who have registered in the Financial Services Authority (OJK) in accordance with OJK Regulation No. 67 of 2017. Authentic Deed as the strongest evidence has an important role in every legal relationship in social life. In an attempted relationship an authentic deed becomes a demand for legal certainty in various economic and social relations."