MANAGEMENT PUBLIC COMPANIES NORMALLY:

• Securities laws
• Specialized laws (Insurance Business Law)
• Corporate laws

PUBLIC COMPANIES AS CREDIT INSTITUTIONS:

• Specialized laws (Law on Credit Institutions)
• Securities laws
• Corporate laws

Scenario: Can a member of the board of directors serve as a board member of another company?

• Corporate Law (Article 155): Members of the board of directors of a joint-stock company may serve as members of the board of directors of other enterprises. Thus, under corporate law, there are no restrictions and members of the board of directors are entirely allowed to serve as members of the board of directors of other enterprises.
• According to securities law: Members of the board of directors of a public company (listed or unlisted) may serve in a maximum of 05 other companies. Therefore, the total number of companies that an individual can serve as a board member is 06 companies.
• However, according to the law on credit institutions, members of the board of directors, members of the board of members of credit institutions cannot simultaneously be managers of other credit institutions (except for subsidiaries of that credit institution). Therefore, for credit institutions that are public companies, we must first apply specialized laws (Law on Credit Institutions).