e-book2013

NEWSLETTER 2013

The Regulation includes detailed provisions regarding all acts subject

to registration, all necessary information and documentation related to

such acts, the registry directorate which shall make the registration and

the matters to be registered.

Informative (Positive) Function of the Registry

Both the TCC and the Regulation address the informative effects that

registration and announcement shall have on third persons. Accordingly,

the registry records shall bear effect on third persons as of the date of

publication of the registration in the registry gazette. Third persons

may not allege lack of knowledge of the registry records. However, the

Regulation states that specific provisions are reserved under the law, such

that certain matters registered shall commence bearing effect on third

persons as of their registration, even prior to publication. It should be

noted, however, that various articles of the TCC state that the registration

and announcement of certain matters shall not suffice to prove the

knowledge of third persons regarding the relevant matter.

Duty of Examination

Similar to the provisions of the By-Laws, pursuant to the Regulation

the directors and vice directors are obliged to examine whether statutory

requirements for registration are fulfilled. The scope of this duty is

regulated in detail. Contrary to the provisions of the By-Laws, pursuant

to the Regulation the directorate may grant a maximum thirty day cure

period in the event a discrepancy is noticed, and may extend this period

twice at most.

Trade Name

Provisions governing trade names are similar to the conditions

stipulated under the TCC regarding trade names. The provision of the

Abrogated TCC and the By-Laws specifying that the trade names of real

persons shall only be protected within the same registry office has been

abandoned. In compliance with the relevant provision introduced under

the TCC, the Regulation states that a registered trade name, regardless

of the registry office, shall be protected all across Turkey. In the event a