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Right to Request Information of the Shareholders in
Joint Stock Companies
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Prof. Dr. H. Ercument Erdem
The right to request information is one of the most important rights
granted to the shareholders, and it enables shareholders to receive solid
information on the functioning, financial status and expectations of the
company, as well as the quality of the management. The right to
request information facilitates the company’s accountable and trans-
parent functioning; thus, it is considered as an “inalienable right” of
the shareholders. In accordance with Article 437 of the Turkish
Commercial Code (“TCC”), the right to request information and exam-
ination shall not be restricted nor removed by the articles of associa-
tion or the resolution of the corporate bodies. Accordingly, the TCC
considers the right to request information as an element concerning the
basic structure of joint venture companies, and sets forth provisions on
the effective exercise of the right to request information.
Exercise of the Right to Request Information
Right of Examination before the General Assembly Meeting
The right to request information has different aspects, and the first
one is the right of examination of the shareholders before the general
assembly meeting. Pursuant to Article 437/1, the company shall hold
the financial statements of the company, the board of directors’ annual
activity report, the audit reports, and the board of director’s proposals
to distribute dividends that will be available for the shareholder’s
examination at least 15 days prior to the general assembly meeting.
Financial statements and consolidated statements shall also be accessi-
ble to the shareholders at the company’s registered office and branch-
COMMERCIAL LAW
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Article of October 2015