57 / 469
COMMERCIAL LAW
43
Article 498 of the New TCC provides an assumption. According
to the said article, in the event that the application of the transferee to
the company for his recognition as a shareholder is not rejected within
twenty days, the transferee deemed to be recognized as a shareholder.
The relevant disposition will encourage the company to evaluate the
applications within twenty days.
Conclusion
The dispositions of the New TCC concerning the transfer of shares
provide significant innovations compared to the TCC. The company
is no longer entitled to dissent the transfer without giving any reason.
Listed and non-listed registered shares are distinguished from each
other, and the transfer of these shares has been regulated under different
dispositions. The fact that the New TCC adopted a more advantageous
system compared to the TCC is incontestable.