ASPEK HUKUM COMMERCIAL PAPER STUDI TENTANG PENERBITAN DAN PERDAGANGAN COMMERCIAL PAPER MELALUI BANK UMUM DI INDONESIA LEGAL ASPECTS OF COMMERCIAL PAPER A STUDY OF ISSUE AND TRADE OF COMMERCIAL PAPER THROUGH GENERAL BANK IN INDONESIA

Abstract

This research aims at describing clearly legal aspects, requirements and procedure, legal contracts, and problem emerged in issue and trade of commercial paper in Indonesia. This research is a normative legal study based on secondary data collected by using library research and documentary study methodes. It is also accomplished by field study having the use of interview to collect primary data. The results of research showed that legal aspects found in issue and trade of commercial paper were aspects of civil law, negotiable law, business law, and economic law. The requirements of issue and trade of commercial paper through general bank in Indonesia were regulated in The Decree of Management of Bank Indonesia No. 28/52/Kep/Dir and followed that used in practice. Legal contracts emrged: between the issuer and PT PEFINDO was contracts work, betwen the issuer and banlc was contacts of authorization, and betvveen the issuer and investor was payment of commercial paper. In the process of issue and trade of commercial paper some problems were found: unclarity of commercial paper regulation and the lack of legal protection against investor's fund. Penelitian ini bertujuan untuk menggambarkan dengan jelas aspek hukum, persyaratan dan prosedur, hubungan hukum dan permasalahan yang timbul dalam penerbitan elan perdagangan commercial paper di Indonesia. Penelitian ini merupalcan penelitian hulcum normatif yang bersifat deslcriptif analitis. Data sekunder diperoleh dari penelitian kepustakaan clan studi dokumen, sedangkan data lapangan diperoleh dengan menggunakan wawancara. Hasil penelitian menunjuldcan bahwa aspek hulcum yang terdapat dalam penerbitan clan perdagangan commercial paper adalah aspek hukum perdata, aspek hulcum surat berharga, aspek hukum perusahaan, dan aspek hulcum ekonomi. Persyaratan penerbitan dan perdagangancommercial paper melalui Bank Umum ditetapkan dalam Surat Keputusan Direksi Bank Indonesia No. 28/52/Kep/Dir dan Surat Edaran Bank Indonesia No. 28/49/UP6 masing-masing tanggal 11 Agustus 1995, sedangkan prosedurnya mengilcuti tata cara yang digunakan dalam praktek. Hubungan hukum yang terjadi antara penerbit dan PT PEFINDO merupakan hubungan hukum untuk melalcukan pekerjaan, antara penerbit dan bank merupalcan hubungan hulcum pemberian kuasa, antara penerbit dan investor merupakan hubungan hulcum pembayaran surat berharga. Dalam kegiatan penerbitan clan perdagangan commercial paper ini ditemukan beberapa permasalahan, yaitu ketidalc-jelasan peraturan hukumnya dan kurangnya perlindungan hukum terhadap darn investor.