ShiftDelete.Net founder Hakkı Alkan summarized the latest amendments to the Turkish Commercial Code and shared it with users on his account on the X (Twitter) platform. Since the text of the amendments enacted by the Parliament was quite long, Hakkı Alkan summarized the basic content of each article in an understandable and easily readable way. Here are some important points of these changes…
Turkish Commercial Code amendments became law in the parliament
ShiftDelete.Net founder Hakkı Alkan summarized the legal changes made in the Turkish Commercial Code on his X (Twitter) account in the following items for easier understanding. Here are the changes made…
- Cooperative information system: The time period has been extended to complete the partners’ data deficiencies.
- Adaptation period of cooperatives: They were given additional time to change their articles of association.
- Competition board regulations: Adjustments were made to staff titles and ranks.
- Removal of defense obligation: The obligation to provide defense during the Competition Board investigation processes has been abolished.
- Opportunity to give additional opinion: The opportunity to give additional opinions was provided in case of changes in opinion in the investigation report.
- Product specialized exchanges: Collateral and guarantee fund mechanisms have been established.
- Licensed warehousing: Administrative fines have been updated and new penalties have been defined.
- closed markets: The allocation procedure of sales points has been regulated.
- Those who are not marketers: Renting at high prices is blocked.
- temporary items: The changes in Law No. 5957 have been harmonized.
- Limited real rights: Existing limited real rights and tenancy rights were preserved.
- Board election: The term of office of the chairman and deputy chairman of the board of directors has been harmonized.
- delegation of authority: The authority to appoint and dismiss persons other than senior executives can be delegated to the board of directors.
- Meeting request: The chairman is obliged to call a meeting in case of meeting requests made by the majority of the board members.
- Trade registry offices: Trial expenses and attorney fees will not be awarded.
- Joint stock and limited companies: Those who do not adapt to the new capital order will be deemed to have dissolved.
- Advertising board powers: The authority to remove content and block access has been regulated.
- fines: Administrative fines for goods or services avoided from sale have been increased.
- timeshare sales: Regulations have been clarified.
- retail trade: Administrative fines for exorbitant price increases and hoarding actions have been increased.
- Product safety: Deterrent penalties were given to companies exporting unsafe products.
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ShiftDelete.Net founder Hakkı Alkan summarized the legal changes made in the Turkish Commercial Code in the X account in this way for easier understanding. So what do you think about these items? You can write your opinions in the comments section below.