ERDEM-NEWSLETTER-2018-metin

27 COMMERCIAL LAW this rule. Subscription for the company’s shares by a third party or a subsidiary in its own name, but on the company’s account, is also considered as subscription by the company for its own shares. In the event of violation of the prohibition, subscription does not give rise to any consequences for the company. Founders and the members of the boards of directors are deemed to have subscribed for such shares, at the incorporation and in capital increases, respectively, and become liable for the share prices, unless they prove that they bear no fault.