Analisis Tanggung Jawab Hukum Konsultan Hukum Pasar Modal Atas Pendapat Hukum (Legal Opinion)...

(1)

ANALISIS TANGGUNG JAWAB HUKUM KONSULTAN

HUKUM PASAR MODAL ATAS PENDAPAT HUKUM (LEGAL

OPINION) PADA PENAWARAN UMUM PERDANA

TESIS

Oleh :

BERNAT PANJAITAN

NIM : 017005007 / ILMU HUKUM

PROGRAM PASCASARJANA

UNIVERSITAS SUMATERA UTARA

MEDAN

2003

Bernat Panjaitan : Analisis Tanggung Jawab Hukum Konsultan Hukum Pasar Modal Atas Pendapat…, 2003

(2)

ABSTRACT

As well as in another country, securities market in Indonesia s a fund collector for the national development. The share or stock selling in securities market in the first time is known as Initial Public Offering (IP0). Initial Public Offering, firm or incorporated must fulfill any requirements and liabilities as mentioned in regulations, in particular the Undang-Undang No. 8 Tahun 1995 concerning to securities market and its implementation provision. According to article 64 paragraph (1) for Undang-Undang No. 8 Tahun 1995 concerning to money market, the profession categorized into money market as Accountant, Appraiser of law consultant, Public Notary, and another profession role in securities market specially in public offering procedures is to review all of documents in the form of law investigation Report or Legal audit transparency and based on the legal audit, the law consultant will provides any opinion. This legal opinion is an important th ing for emitten and guarantor, broker or investor. Securities market law consultant must investigate according to the law investigation standard and law opinion standard, profession ethic code and independently , th ee consultant has a law r e sp ons ibility ac co rding to the sec u r it ie s ma r k e t r e g u l a t io n a n d g o v er n me n t r e g u l a ti o n N o . 4 5 o f 1 9 9 5 concerning to activities implementation in money market. The responsibility of securities market law consultant are the civil, criminal, administration and professional Responsibilities according to the ethic code issued by Securities Market Law Consultant Association (IIKHPM). The law sanction to securities market law consultant did not applied absolutely means the securities market Regulation apply the limited liability principles as mentioned in article 80 paragraph (2) and (3) its explanation, Le the Securities market Profession (law consultant) and another parties only has a liability on legal opinion. Therefore, investor only claimed on the loss caused by the legal opinion in which the investor can not be claimed if the law consultant have make an appraisal or legal opinion professionally based on the investigation of auditing norm, ethic code principles and independently. It is necessary to have a standard for discrepancy deed and determine the material fact to know whether the opinion principles securities market in Indonesia related to the law consultant opinion is true or false. Do the development of securities market in the future in Indonesia, it is i mp o r t an t t o r e v i e w t h e s e cu r i t i e s ma r k e t r e g u l a t i o n th a t f o cu s ed to th e discrepancy deed.

Key Word:

(3)

ABSTRAKSI

(4)

hukum pasar modal dalam peraturan tersebut antara lain adalah: tangguug jawab secara perdata, pidana, administrasi, dan juga tanggung jawab profesi menurut kode etik yamng telah ditetapkan oleh Himpunan Konsultan Hukum Pasar Modal

Sanksi hukum yang dibebankan kepada konsultan hukum pasar modal tidak berlaku secara absolut artinya bahwa Undang-undang Pasar Modal menganut apa yang dinamakan prinsip pembatasan tangung jawab/tanggung jawab terbatas (limited liability). Hal ini dapat dilihat pada pasal 80 ayat (2) dan (3) besrta penjelasannya yang secara garis besar meyebutkan profesi penunjang pasar modal (dalam hal ini konsultan hukum) dan pihak lainnya hanya bertanggung jawab terbatas pada pendapat atau keterangan yang diberikannya. Oleh sebab itu pemodal hanya dapat dituntut ganti rugi atas kerugian yang timbul akibat dari pendapat atau peuilaian yang diberikannya dalam arti investor tidak dapat menuntut ganti rugi apabila konsultan hukum tersebut telah melakukan penilaian atau pendapat secara profesional, telah sesuai dengan norma pemeriksaan, prinsip-prinsip kode etik profesi dan secara independen. Perlu adanya standar perbuatan yang meyesatkan dan penentuan fakta material sehingga prinsip keterbukaan dipasar modal Indonesia khususnya terkait dengan pendapat hukum konsultan hukum dapat diketahui apakah memang benar atau tidak. Untuk kemajuan pasar modal Indonesia dimasa depan, perlu dilaksanakan pembaharuan UU Pasar Modal Indonesia yang memperjelas ketentuan-ketentuan tentang perbuatan yang meyesatkan.

Kata Kunci : Penawaran Umum Perdana