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NEWSLETTER 2013
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Regulation Regarding Websites Created by Corporations
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Att. Nilay Celebi
The Regulation Regarding Websites Created by Corporations
(“Regulation”) was published in the Official Gazette dated 31 May
2013 and numbered 28663. This Regulation sets forth the duties of
Corporations to create a website in accordance with Article 1524 of
the Turkish Commercial Code No. 6102. This Regulation entered into
force on 1 July 2013. This Regulation was amended with the Regulation
on the Amendment of the Regulation Concerning Websites created by
Corporations published in the Official Gazette dated 21 September 2013
numbered 28772.
Companies Subject to the Regulation
Equity companies subject to auditing, as determined by the Council
of Ministers pursuant to Article 397 of the Turkish Commercial Code,
must set up a website under this Regulation and allocate a certain section
thereof to the necessary announcements as stipulated by law. Equity
companies subject to independent auditing are defined by the Decision
of the Council of Ministers, published in the Official Gazette dated 23
January 2013 and numbered 28537. Under this decision, three criteria
have been set: Having a total amount of assets worth at least TRL 150
million, having net sales revenue of at least TRL 200 million and having
at least 500 employees. Equity companies that comply with at least any
two of these criteria for two consecutive years are subject to independent
auditing.
Companies that are not subject to independent auditing pursuant
to this Decision do not have to set up a website in accordance with the
Regulation.
Companies that are members of group companies, but not subject to
independent auditing, do not have to set up a website.
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Article of September 2013