NEWSLETTER-2019-metin

24 NEWSLETTER 2019 Postponement of General Assembly Meetings in Joint Stock Companies* Att. Ecem Cetinyilmaz Introduction Under Turkish law, the procedures and principles of the general assembly meetings of joint stock companies are regulated under the Turkish Commercial Code 1 (“TCC”) numbered 6102 and the Regula- tion on the Procedures and Principles of General Assembly Meetings of Joint Stock Companies and Representatives of Ministry of Customs and Trade to be Present at These Meetings 2 (“Regulation”). These pro- visions include the general assembly call procedure, announcement, agenda, opening and conduct of the meeting, meeting and decision quorums, as well as the conditions under which the meeting may be postponed, and the rules to be applied in the second meetings to be held in the event of postponement. This Newsletter discusses the con- ditions stipulated by the TCC and/or the Regulation for postponement and the provisions to be applied in case of postponement. Circumstances where the General Assembly Meetings may be postponed (i) Failure to Meet Meeting or Decision Quorum Although the postponement of a meeting due to failure to attain meeting or decision quorum is not explicitly regulated under the TCC, Article 418/2 implicitly allows postponement through mentioning a second meeting to be held if the quorum is not reached. * Article of October 2019 1 TCC (OG, No. 27846, 14.02.2011) entered into force on 01.07.2012. 2 The Regulation (OG, No. 28481, 28.11.2012) entered into force through publi- cation (except Article 19/2-b and the provisions regulating the obligation to an- nounce on the website).