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ARTICLE · 29 MARCH 2016

A Compliance Requirement To Turkish Commercial Code: Affiliated Company Reports

Corporate governance is among the basics of the Turkish Commercial Code ("TCC"), which was entered into force in 2012 and is ratified recently.

TurkeyCorporate/Commercial Law

Corporate governance is among the basics of the Turkish Commercial Code1 ("TCC"), which was entered into force in 2012 and is ratified recently. As globally accepted, transparency, equal treatment, accountability and responsibility are the mail principles of TCC in terms of corporate governance. By doing so, the TCC aims to arrange a more reliable Turkish commercial life, by protecting the corporations even from their own shareholders, directors, holding companies etc.

In this context, TCC imposes certain obligations on the group companies to prevent the holding company to use its dominating position over the affiliated company in a destructive way.

Affiliated Company Reports must be Prepared until March 31, 2016. 

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