39 / 469
COMMERCIAL LAW
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that they suggest, with their identity and communication details. In this
invitation of the BoD, it shall also be stated that the persons willing to be
corporate representative may also apply.
Finally, the representative of depositor shall be authorized in the
cases that the share titles are deposited in order to be kept. As a result of
the deposit relation between transferor and transferee, the representative
is called as representative of the depositor. The rights to participate in
the GA meeting and to vote may be exercised by the representative on
the basis of the deposit relation or on the basis of the general or special
competence granted by the depositor. The competence may be granted as
a general competence while it may also be granted just prior to each GA
meeting.
Conclusion
The GA was subject to major amendments by the New TCC, like
several other institutions. The reason of these amendments is the necessity
to regulate the issues which were being discussed in the doctrine and
which were needed in practice and on the other hand, to ensure that the
GA is functioning more effectively. Within this scope, the regulations
regarding the lack of power and representation of the shareholders in
the GA are important. The dispositions of the New TCC regarding GA
are, without any doubt, adopted in order to ensure the protection and
development of shareholder rights.