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b) He shall not have been employed in the firms conducting, in
whole or in part, the business and organization of the company,
especially audit firms or consulting firms, and he shall not have
served as a director in such companies within the last 5 years,
c) He shall not have been employed in the companies who supply
significant services or products to the company and he shall not
have been a shareholder or have served as an employee or a
director in such companies within the last 5 years,
d) He shall not hold more than 1 % of the share capital and such
share shall not be privileged,
e) He shall have the knowledge, education and experience in
order to duly perform its duties in the board,
f) To the extent possible by applicable law and except for the aca-
demics, he shall not be working as a full time basis in the gov-
ernmental offices, at the time of the nomination and during its
office,
g) He shall be a resident in Turkey in accordance with the Income
Tax Law.
h) He shall have the ethical standards and occupational reputation
and experience in order to give positive contribution to the
company business and to keep his independency.
i) He shall give his time to company business in order to duly per-
form his duties.
The board shall establish committees such as Audit Committee,
Corporate Governance Committee, Committee of Early Determination
of Risks, Nomination Committee, and Remuneration Committee. The
Corporate Governance Committee may perform the duties of
Nomination Committee, Committee of Early Determination of Risks,
and Remuneration Committee if such committees cannot be estab-
lished.
The Nomination Committee has important duties with regard to
the nomination of the independent board members. It shall evaluate
whether the nominees for the independent board member seat have the
relevant criteria and provide a report to the board. The independent
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NEWSLETTER 2012