印度尼西亚公司法中三个“资本”释义

印度尼西亚是“一带一路”的重要组成国家，熟悉印尼公司法将成为“走出去”的首要功课。2007年8月16日印尼前总统苏西洛·班邦·尤多约诺（Susilo Bambang Yudhoyono）颁布新公司法（2007年第40号法律）取代1995年公司法。新公司法对于公司设立、资本、股份、公司资产变动、公司机构权责、社会责任、公司合并、公司解散、公司接管、公司分离以及清算均有详细规定。该国公司法体制与我国公司法体制具有较大差异，其并不区分有限责任公司和股份有限公司。在此制度框架下，对于印尼公司法中Authorised Capital、Issued Capital、Paid up Capital三个基础概念的正确理解将有助于快速熟悉印尼公司法规定。本期编者以印尼公司法为落脚点，重点梳理上述三个概念：
1.Authorised Capital （授权资本）
1.1 释义
Wikipedia: The authorised capital of a company(sometimes referred to as the authorised share capital, registered capital ornominal capital, particularly in the United States) is the maximum amount ofshare capital that the company is authorised by its constitutional documents toissue (allocate) to shareholders. Part of the authorised capital can (andfrequently does) remain unissued.
Leks&Co (Law Firm): Authorized Capital,means the total amount of shares that a Company is allowed to issue to theshareholders. The authorized capital can be called as the registered capitalbecause this capital shall be included in the deed of establishment when theCompany is established.
Geekinterview (Commercial website):Authorised Capital: The capital which is maximum capital the company can raisein its life time. Hardly any company issues capital which is equal toauthorised capital.
MalaysiaCo (Commercial website): A company needto confirm its authorised capital before proceed to the registration with SSM(Suruhanjaya Syarikat Malaysia). The amount of authorised capital will bereflected in the Memorandum of Association of every Company.
1.2 总结
授权资本是公司分配股份或者发行股票总额的上限，通常授权资本大于发行资本（Issued capital），具体数额根据当地法律法规要求在公司章程中明确规定。印尼现行公司法规定公司章程必须包含授权资本额度信息，授权资本必须是公司全部股份票面额的总和。若对授权资本进行调整，除了公司内部同意以外，还须提交印尼法律与人权部长的审批。此外，印尼公司法对成立公司时的授权资本做出了下限规定，要求不少于5000万印尼卢比（详见印尼公司法（2007年第40号）第15、21、31、32条规定）。但是，2016年印尼政府法规（2016年第29号）公司授权资本下限进行了放宽，在部分不受限的行业中若公司发起人（founder）之间同意授权资本低于5000万印尼卢比的，第29号政府法规允许低于5000万元印尼卢比。
2.Issued Capital （已发行资本）
2.1 释义
Wikipedia:A corporation's share capital (or capital stock in US English) is the portionof a corporation's equity that has been obtained by the issue of shares in thecorporation to a shareholder, usually for cash. (share capital 与 issued capital 概念通用)
Leks&Co (Law Firm): Issued Capital meansthe capital that is issued by the Company to the shareholders.
2.2 总结
已发行资本是指公司向股东发行的资本。通常授权资本制的国家对于已发行资本有最低要求，但是不同的国家对于下限的要求不同，比如在香港公司条例规定，股份有限公司股东至少认购1股；印尼现行公司法第33条规定，25%的公司授权资本必须被发行且被实缴。
3.Paid up Capital （已缴资本）
3.1释义
Investopedia(Commercial website): Paid-up capital is the amount of money a company hasreceived from shareholders in exchange for shares of stock. Paid-up capital isonly created when a company sells its shares on the primary market directly toinvestors. When shares are bought and sold between investors on the secondarymarket, no additional paid-up capital is created because the proceeds of thosetransactions go to the selling shareholders, not the issuing company.
Geekinterview (Commercial website):Paid upcapital: Paid up capital means that capital for which people have actually paidmoney.
3.2 总结
已缴资本是指股东认购已发行股份后，已经支付了相应的对价。已缴资本只发生在一级市场，若公司发行股票，有投资者认购并付款后，该股份面额就是已缴资本。二级市场的股权转让不发生新的已缴资本。通常各国会对已缴资本有相应规定，在印尼已缴资本的最低额是公司授权资本的25%，并且2016年印尼政府法规要求已缴资本在认购股票后不能延后支付。
另外，对于有意向在印投资的外国投资者，除了了解公司法规定外还应当特别关注印尼2007年第25号投资法的具体规定。