NEWSLETTER-2017

15 COMMERCIAL LAW on, provided that such institutions do not perform activities within the scope of Law No. 3568. • Regulation under the NL: Provisions of Article 50 of the NL are even more strict. Accordingly, no activity or duty compli- es with notarial duties. Notaries are banned from conducting stock exchange transactions, engaging in commercial acti- vities in terms of Article 28/1 of the PSL, being a guarantor, making any type of discounts in their fees, using intermedi- aries, carrying out advertising activities, making written or verbal agreements between themselves as to notarial fees in any way whatsoever. Through the reference to Article 28/1 of the PSL, it is clear that notaries cannot engage in any ac- tivity that would make them considered to be a merchant or craftsman, hold office in commerce and industry facilities, or be a commercial representative or commercial proxy or a partner in companies with unlimited liability, or an unlimited partner in limited partnerships divided into shares. In this respect, they may not act as boards of directors’ members in joint stock companies. An exception to this rule is the freedom to engage in busi- nesses assigned to them by judicial authorities, chairmanship and membership of charities and scientific organizations, and holding office as arbitrator and testamentary executor. After consideration of these types of special laws setting forth barriers or limitations regarding board of directors membership of the persons subject to such laws, as generally accepted by legal scholars, in the event of appointment of such persons as a member of board of directors, despite the barriers, it is concluded that such an appointment would be valid 13 . Such an evaluation is often made by legal scholars in terms of the limitations set forth under Article 28 of the PSL. Such limitations under these special laws are considered leges minus quam perfecta - in other words, regulatory provisions 14 . Non-possession by the subject member of the qualifications set forth under the TCC do not constitute a barrier in terms of appointment to the board of 13 Karahan/Arslan, Şirketler Hukuku, 1 st ed., Konya, 2012, p. 412. 14 Kırca (Şehirali Çelik/Manavgat), p. 412.