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Amendments to the Turkish Commercial Code by
Omnibus Law No. 6552
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Att. Tuna Colgar
A number of amendments have been made to the Turkish
Commercial Code (“TCC”) by Articles 131, 132, 133 and 134 of the
Omnibus Law No. 6552 adopted by the Turkish Grand National
Assembly on September 10th, 2014. The most outstanding of these
amendments are the addition made to Art. 371 relating to the repre-
sentative authority of companies and the amendment made to Art. 629
concerning limited liability companies with a reference to the para-
graph added to Art. 371.
The paragraph added to TCC Art. 371 by Omnibus Law No. 6552
reads as follows;
“(7) The board of directors, with the exception of certain rep-
resentatives referred to above, may appoint non-representative
members of the board of directors or persons bound to the
company by a labor contract as commercial representatives
with limited representative authority or other commercial
assistants. Powers and duties of persons appointed in this
manner shall be clearly stated in the internal directive issued
in accordance with Art. 367. In such a case, the internal direc-
tive shall be registered and announced. Commercial assistants
or other commercial representatives shall not be appointed
with the internal directive. Commercial assistants or other
commercial representatives authorized by this paragraph shall
be registered in the Trade Registry and announced. The board
of directors shall be liable jointly and severally for any dam-
ages caused by these persons towards the company or third
persons.”
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NEWSLETTER 2014
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Article of September 2014