SHA — Shareholders' Agreement / Perjanjian Pemegang Saham

A private contract between the shareholders personally, sitting alongside the Articles of Association.

Where it appears

shareholders agreement — the instrument itself.

Why it matters

The Articles bind the company towards the world; the SHA binds the people to each other. Where they conflict on anything touching third parties, the Articles prevail (UU 40/2007).

Part of the pack's vocabulary.