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Conclusion
The New TCC adopted detailed provisions that meet the current
needs with regards to division. The balance between the implementation
of the division and the stakeholders has been protected. The
numerus
clausus
principle was adopted with regards to valid divisions, and a
flexible structure has been provided with symmetrical and asymmetrical
divisions, concerning the different circumstances. Therefore, the
influence of division in the restructuring process is emphasized. Rights
of shareholders have been protected by qualified majorities, and some
exception provisions have been provided for small sized enterprises. It
is certain that the division concept that has been regulated outside of
the scope of tax legislation will operate more efficiently following these
reforms.