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ARTICLE · 02 JULY 2024

Significant Changes To The Turkish Commercial Code And The Law On The Protection Of Competition

Kolcuoğlu Demirkan Koçaklı Attorneys at Law
Kolcuoğlu Demirkan Koçaklı Attorneys at Law
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Kolcuoğlu Demirkan Koçaklı Attorneys at Law

Kolcuoğlu Demirkan Koçaklı Attorneys at Law

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Law No. 7511 on the Amendment to the Turkish Commercial Code and Certain Other Laws (the "Amendment Law") entered into force upon its publication in the Official Gazette dated 29 May 2024 and numbered 32560.

TurkeyAntitrust/Competition Law
Neyzar Ünübol
Neyzar Ünübol
Yağmur Turan Aksoy
Yağmur Turan Aksoy
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Law No. 7511 on the Amendment to the Turkish Commercial Code and Certain Other Laws (the "Amendment Law") entered into force upon its publication in the Official Gazette dated 29 May 2024 and numbered 32560. The Amendment Law introduces significant amendments to the Turkish Commercial Code ("TCC") and Law No. 4054 on the Protection of Competition (the "Competition Law"). Comprehensive amendments regarding the TCC relate to the functioning and powers of companies' boards of directors and minimum capital requirements. In terms of the Competition Law, amendments relate to the investigations of the Turkish Competition Authority (the "TCA").

1. Amendments under the TCC

Term for electing the chair and vice chair of the board of directors in joint stock companies has changed.

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