Tag: Sanction

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COMPENSATORY WORK UNDER TURKISH LAW

What Is Compensatory Work?

In cases where work is suspended due to compulsory reasons, the closure of the workplace before or after national holidays and public holidays, a significant reduction in regular working hours in the workplace, the inability to work due to reasons arising from the employer or the employee, the employer may request the employee to work in order to compensate for the time he/she was unable to work by abiding certain conditions, which is called compensatory work.

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THINGS TO DO IN JOINT STOCK AND LIMITED COMPANIES AFTER THE FISCAL YEAR ENDS

Turkish Commercial Code (“Code”) regulates some obligations for joint stock companies and limited companies that need to be fulfilled after the fiscal year is over. In addition, the Code regulates sanctions for some of those obligations if they are not fulfilled in due time. In this article, we would like to point out the important obligations of joint stock and limited companies after the financial year ends.

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