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ARTICLE · 21 JULY 2020

Communiqué On Significant Transactions And Retirement Right

Erdem & Erdem Law
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Law No. 7222 regarding Amendments to the Banking Law, as well as Certain Other Laws ("Law No. 7222") entered into force through its publication in the Official Gazette dated 25.02.2020.

TurkeyCorporate/Commercial Law
Nezihe Boran
Nezihe Boran
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Introduction

Law No. 7222 regarding Amendments to the Banking Law, as well as Certain Other Laws ("Law No. 7222") entered into force through its publication in the Official Gazette dated 25.02.2020. Law No. 7222 amended, among others, Article 23 (Significant Transactions of Corporations) and Article 24 (Retirement Right) of Capital Markets Law No. 63621 ("Capital Markets Law") and this required the Communiqué on Common Principles Regarding Significant Transactions and the Retirement Right (II-23.1) ("Repealed Communiqué") to be revised. The Repealed Communiqué has been repealed by the Communiqué on Significant Transactions and the Retirement Right (II-23.3) ("Communiqué"), which entered into force through its publication in the Official Gazette dated 27.06.2020. The transactions to be deemed significant ("Significant Transactions") are redetermined, the common applicable procedures and principles including, but not limited to, the retirement right and its

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