23 / 516
Pursuant to amended article 26 of Law no. 6103, the references
made in the articles of association to the Turkish Commercial Code
numbered 6762 with regards to meeting and resolution quorums in the
articles of association shall be readjusted through amending the articles
of association within 12 months following the entry into force of the
New TCC. Article 28 pertaining to voting rights, privileged voting
rights and transfer limitations of registered shares states that the rele-
vant provisions of the New TCC shall enter into force in 12 months fol-
lowing the entry into force of the New TCC.
Conclusion
Many important amendments have been made in the New TCC
with Law no. 6335 a short time before the entry into force of the New
TCC, and the New TCC has been amended before becoming effective.
This is not an ordinary situation for such a principal code as the New
TCC whose preparation took almost ten years with regards to the leg-
islation technique, it is very difficult to deem convenient that many
new and principal concepts (such as operational auditor and external
auditing) introduced by the New TCC are rapidly abolished or amend-
ed without leaving room for necessary debates. Additionally, most of
the secondary legislation foreseen in the law are not yet enacted, which
causes many problems, especially before Trade Registries. It would
have been more appropriate for these amendments to be made opened
to discussion in advance. We hope that the inconveniences which we
pointed out will be eliminated and the practices pursuant to the New
TCC will become clearer as soon as possible.
COMMERCIAL LAW
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