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ARTICLE · 11 MAY 2004

Memorandum On Use Of Accumulative Votes In Joint-Stock Companies

Pekin & Pekin
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Sub-paragraph (v) of article 22 of the Capital Markets Law pertaining to the duties and powers of the Capital Markets Board allows use of accumulative votes in joint-stock companies. And the "Communiqué About Principles of Use of Accumulative Votes in General Assembly Meetings of Joint-Stock Companies Subject to the Capital Markets Law", Serial IV No. 29, has been published by the Capital Markets Board in the Official Gazette on 18 February 2003, with immediate effect.

TurkeyPrivacy
Vural Günal
Vural Günal

March 2003 - Reviewed in December 2003, after Communiqué numbered IV/31)

INDEX LIST

I. SUBJECT MATTER

II. LAW PROVISIONS

1. Scope of Law Provisions

2. Method of Use of Accumulative Voting Right

3. Use of Accumulative Vote

III. PROVISIONS OF THE COMMUNIQUE

1. Purpose of the Communiqué

2. "Minority" Concept

2.1. Individual Rights Granted to Shareholders

2.2. Vested Rights

2.3. Minority Rights

2.4. No Minimum Rate Required For Use of Accumulative Vote

3. Definition of "Method of Use of Accumulative Vote"

3.1. Determination of Number of Accumulative Votes

3.2. Use of Accumulative Votes

4. Method being Compulsory or (Optional) Method in accordance with the State of the Company

5. Duties of Joint-Stock Companies in Use of Method

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