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CORPORATE LAW | TURKEY |
MARCH 2020
 

COVID-19 MEASURES IN THE FIELD OF CORPORATE LAW
 

As part of the measures taken in Turkey to restrict the gathering of individuals in an effort to limit the spread of the coronavirus, several decisions are also being taken in relation to corporate law. This newsletter proposes to review some of the measures taken to date.

GENERAL ASSEMBLY MEETINGS OF JOINT-STOCK AND LIMITED COMPAGNIES

Pursuant to the Turkish Commercial Code ("TCC") No. 6102, ordinary general assembly meetings of joint-stock and limited companies should be convened within three months from the end of each financial year. Since companies frequently align their financial year with the calendar year, this usually requires in practice the holding of ordinary general assembly meetings before the end of March.

In this regard, a statement has been published by the Turkish Ministry of Trade's Internal Trade General Directorate in letter No. 53382221 dated 20 March 2020 regarding ordinary general assembly meetings of joint-stock and limited companies, which introduces certain simplifications for the cancellation of general assembly meetings that have already been called, and the usage of Electronic General Assembly System (e-GKS in Turkish).


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CONTACTS

ARPAT ŞENOCAK

Partner
T +90 (212) 385 29 56

senocak@odsavukatlik.com

    MERT KARAKAŞLAR

    Associate
   
T +90 (212) 385 29 73
    
karakaslar@odsavukatlik.com