Tag: Turkish Commercial Code

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POSTPONEMENT OF GENERAL ASSEMBLY MEETINGS IN JOINT STOCK COMPANIES

According to Turkish Commercial Code (“Code”) joint stock companies must convene the annual general assembly meetings at least once in a year. In these meetings the resolutions about financial statements, activity reports, election and release of board members, dividend distribution and other related issues are taken. Although the general assembly meetings must be held within 3 months after the fiscal year ends, the Code and the Regulation on the Procedures and Principles of General Assembly Meetings of Joint Stock Companies and Representatives of the Ministry of Customs and Trade to be Present at These Meetings (“Regulation”) regulate specific conditions in which the general assembly meetings may be postponed. In this article, we would like to mention about these conditions.

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UNFAIR COMPETITION AND LAWSUITS THAT MAY BE FILED

Turkish Commercial Code  (“Code”) has introduced some regulations regarding unfair competition with the aim of to protect the interests of all participants and to provide an undistorted and honest competition environment. The Code defines that the misleading acts and commercial practices to affect the relations between competitors or between suppliers and customers or contrary to good faith are unfair and illegal. In this article, we would like to mention about unfair competition conditions and lawsuits that may be filed.

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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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