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NEWSLETTER 2011
102
The Communiqué on Principals Regarding Registration of
Debt Securities with the Capital Markets Board and Sales of
Debt Securities
1
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Att. Nilay Çelebi
Preamble
Registration with the Capital Markets Board (“CMB”) and sales of
debt securities such as bonds and commercial paper are regulated under
the Communiqué on Principals Regarding Registration of the Debt
Securities with the CMB and Sale of Debt Securities Serial: II, No: 22
(“Communiqué”). Please find a brief summary of the regulations and
general information with respect to the registration of debt securities with
the CMB and the sale of these debt securities in accordance with the
Communiqué.
Regulations in the Communiqué
Debt securities means bonds; bonds convertible into shares;
convertible bonds; commercial paper; gold, silver, platinum bonds; bank
bonds, and other capital markets instruments to be approved by the CMB
as debt securities which are either registered or bearer instruments, or
promissory notes that are issued and sold by the issuers as the debtor for
registration with the CMB in accordance with the Communiqué.
Registration with the CMB
The issuers must register debt securities with the CMB in accordance
with the regulations in the Communiqué. The issuer must adopt a general
assembly decision for the issuance of debt securities. The authority
to resolve the issuance of debt securities can be assigned to the board
of directors through a provision in the articles of association. General
provisions with respect to the amount, type, maturity and interest of
the debt securities to be issued must be stated in the decision of general
assembly.
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Article of February 2011