NEWSLETTER-2019-metin

29 COMMERCIAL LAW representation of at least one-third of the capital. Decisions shall be taken with the majority of those present at the meeting. The meeting to be held after the expiry of the one month period provided for the second meeting shall not be deemed to be the second meeting, but will be considered to be the first meeting; therefore, the meeting quorum shall still be one-half of the capital 8 . Finally, if the quorums required for the general assembly meet- ings in which the amendment to the articles of associations indicated under Articles 421/2 and 421/3 of the TCC will be discussed are not met in the first meeting, the following meetings shall also require the same quorums. Article 22 of the Regulation enumerates all of the general assembly decisions that will require the same quorum at the second meeting. Other Issues Article 15/1-h of the Regulation mentions the minutes of the previ- ous meeting among the documents which are necessary to be present at the second meeting. It is among the duties and powers of the chairman- ship of the meeting to determine whether the postponement minutes in question are fully present at the meeting, and to have this so indicated in the meeting minutes. Considering this provision, it is worth mentioning that the postponement must be recorded in the minutes. Conclusion According to the TCC and the Regulation, in joint stock compa- nies, it is possible to postpone general assembly meetings in situations where (i) the meeting and decision quorums are not met, (ii) a decision by the general assembly has been taken in such a direction, (iii) the minority requested postponement of the discussion of the financial statements, (iv) security reasons necessitate, and (v) there is a failure to provide electronic general assembly system. In such cases, the general assembly should be called to the meeting again by the competent body in accordance with the call procedures. Special quorums are stipulated under the TCC for second meetings to be held. The detailed provisions of the Regulation on the procedures and principles of these meetings should be adhered to. 8 Çamoğlu (Poroy/Tekinalp) , p. 514.