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ments, relationships, and its subsidiaries, if any. Pursuant to Article
200 of the TCC, the right to request information of the shareholders of
the parent company includes the subsidiary’s financial situation, assets,
together with its accounting outcomes, the relationship between the
parent company and subsidiaries, between the subsidiaries, sharehold-
ers of the subsidiaries, and the parent company, directors, and their
related parties, as well as the transaction between the parent company
and these parties, together with the results of the transactions.
The right to request information is limited by protecting the com-
pany’s secrets and other interests that are required to be protected.
Pursuant to Article 437/3 of the TCC, requesting information may only
be rejected for these reasons, in principle. However, in accordance with
the principle of equal treatment and Article 437/2 of the TCC, if
any information is shared with a shareholder outside of the general
assembly meeting, the relevant information shall be shared to the same
extent and details with the other shareholders upon the request of any
of its shareholder. In that instance, the sharing of information shall not
be rejected on the grounds that sharing of the relevant information may
place the company at risk.
The information to be shared within the scope of right to request
information shall be in compliance with the principles of accountabil-
ity and good faith, and shall be prudent and relevant. Accountability is
in direct relation with the release by the board of directors’ members;
therefore, the relevant information shall include any information that is
necessary to release the directors
4
.
Right to Request Information on the Compensation of the
Directors
Under certain jurisdictions, there are specific provisions regarding
the shareholders’ right to request information on the compensation of
the directors and the disclosure of such information. As the compensa-
tion of the directors may have adverse effects on the company’s finan-
cial situation, shareholders have an interest in obtaining information as
to compensation.
26
NEWSLETTER 2015
4
Ünal Tekinalp
, p. 322-323, para. 14-77.