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ARTICLE · 04 JUNE 2024

Amendments To The Turkish Commercial Code No. 6102

Pursuant to Law No. 7511 on Amending the Turkish Commercial Code and Certain Other Laws ("Law No. 7511"), published in the Official Gazette dated May 29, 2024...

TurkeyCorporate/Commercial Law

Recent Development

Pursuant to Law No. 7511 on Amending the Turkish Commercial Code and Certain Other Laws ("Law No. 7511"), published in the Official Gazette dated May 29, 2024 and numbered 32560, certain articles of the Turkish Commercial Code No. 6102 ("Commercial Code") have been amended. The amendment entered into force on May 29, 2024.

The amendments to the Commercial Code include changes to the board of directors' obligation to elect the chair and vice chair among its members annually by way of distribution of duties, the removal of the authority to appoint and dismiss branch managers and authorized signatories from the scope of the powers of the board of directors that cannot be transferred or delegated, the introduction of new procedures to convene the meetings of the board of directors in cases where its members request a meeting, the prohibition on the award of judicial expenses and attorney fees against the relevant trade registry directorate in

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