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ARTICLE · 19 JULY 2012

Limited Corporations under Turkish Commercial Code Numbered 6102

Erdem & Erdem Law
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The New Turkish Commercial Code Numbered 6102 ("New TCC") and the Act numbered 6103 on the Entry into Force and Application of the Turkish Commercial Code.

TurkeyCorporate/Commercial Law
Erdem & Erdem
Erdem & Erdem
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The New Turkish Commercial Code Numbered 6102 ("New TCC") and the Act numbered 6103 on the Entry into Force and Application of the Turkish Commercial Code1 ("Application Act"), which became effective on 01.07.2012 has been partially repealed ―and where necessary―, re-enacted  by the law numbered 6335 by the Parliament ("Law No: 6335").

As per article 22 of the Application Act amended by Law No: 6335, the limited liability companies are allowed a statutory time limit to adapt their essential components of company structure and adhere to the articles of association format set out by the New TCC within 12 months following its effective date (until 01.07.2013). Failure to do so will result in the application of the provisions of the New TCC instead of the provisions of the companies' own articles. If it is foreseen necessary, the Ministry of Customs and Commerce may extend this period only once for another year.

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