Abstract
Transfer of property rights on share in scripless trading system in stock exchange related to ownership evidence for scripless shareholdres is not regulated yet in the procedure law. In fact, it becomes important for the sake of legal certainty. The electronic document is equal to the document made on paper. Therefore, the implementation of Law of the Republic of Indonesia Number 11 of 2008 regarding Electronic Transaction and Information is the answer of the technological development and advancement, especially information technology field, so that it can be used to anticipate the harmful possibilities that may happen. Based on formal-judicial aspect, Civil Procedure Law and Criminal Procedure Law do not accommodate electronic documents yet as the evidence. The regulation on electronic evidence in formal law is extremely needed in order to achieve legal certainty. Ownership evidence for shareholders in scripless share trading system is in form of beneficial ownership on securities, provided by the Custodian to securities account holders in form of written confirmation, regarding the sales or the purchase of securities, providing receipts of securities deposit into securities account, confirming on securities receipts or deliveries, providing monthly securities account reports on debits and credits in the securities account, and providing other documents issued by the Custodian regarding debits and credits in the securities account, including electronic confirmation. The written confirmation for the Custodian to the securities account holders is actually the ownership evidence on share in form of electronic data. Keywords: Ownership Evidence, Scripless Share Trading DOI : 10.7176/JLPG/91-06 Publication date: November 30 th 2019
Highlights
In Civil Procedure Law, to prove an excuse about the rights and obligations in a dispute in court, the types have been determined limitatively in law
This research, in some parts, is equipped with empirical research regarding the transfer of property rights on scripless share trading system in the stock exchange related to the development of information technology (IT); it is only a support to obtain complete description in the discussion of the problems formulated in this research
It is complemented by empirical research on ownership evidence for shareholders in a scripless stock trading system in the stock exchange related to the development of information technology (IT)
Summary
In Civil Procedure Law, to prove an excuse about the rights and obligations in a dispute in court, the types have been determined limitatively in law. Www.iiste.org form which becoe the research objects, such as: Civil Code, Law Number 8 of 1995 regardingCapital Market; Government Regulation Number 45 of 1995 regarding Investigation Procedures in the Capital Market; Government Regulation Number 12 of 2004 regarding Amendment of Government Regulation Number 45 of 1995 regarding the Activity Implementation of Capital Market; Decrees of the Minister of Finance of the Republic of Indonesia regarding ownership of shares, purchase of shares, listing of securities, trading of securities trading, etc., and Decisions of the Directors of Stock Exchange as well as Regulation of Capital Market Supervisory Agency and Financial Institution (Bapepam – LK) ( Financial Services Authority). The collection of legal material is intended to facilitate its arrangement in discussing the problems stated in the research problem In certain parts, it is complemented by empirical research on ownership evidence for shareholders in a scripless stock trading system in the stock exchange related to the development of information technology (IT). The researchers use a prescriptive analysis method, namely conducting analysis by describing or explaining existing regulations related to the issues discussed in the scripless trading system, so that conclusion can be made
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