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ARTICLE · 09 SEPTEMBER 2014

Independent Board Directors

Egemenoglu
Egemenoglu
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Egemenoglu

Egemenoglu

Egemenoglu is a full-service law firm and one of the oldest and largest in Turkey, advising leading...

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The new Turkish Commercial Code has been heavily criticized due to the uncertainty of some provisions and inadequate grounds of the Code.

TurkeyCorporate/Commercial Law

The new Turkish Commercial Code ("TCC") has been heavily criticized since the very date it took effect on July 1, 2012 due to the radical changes made on the draft text just before the said date as well as the uncertainty of some provisions and inadequate grounds of the Code.

On the other hand, it is an undeniable fact that the Code has introduced a number of favorable novelties in terms of professionalized business life, the transparency and harmonization with the global developments.

Since July 1, 2012, it is possible to establish a one-man simplified joint stock company, convene the Board and General Assembly meetings via the electronic mean, assign non-partners as board members and even to assign legal persons directly as the members of the Board of Directors.

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