NEWSLETTER-2020-metin

12 NEWSLETTER 2020 System”), the BOD meetings may be held in an electronic environ- ment. Obligations of the Company The company shall complete the following steps in order to con- vene a BOD meeting in an electronic environment: • The following clause allowing for electronic BOD meetings is required to be included in the company’s articles of asso- ciation. If the articles of association does not comprise the following clause, the general assembly shall convene and decide on the addition thereof to the articles of association. “Pursuant to Article 1527 of the TCC , persons who are en- titled to attend to the board of directors meetings may attend the meeting in an electronic environment. Within the scope of the Communiqué on the Electronic Meetings of Equity Companies Except General Assemblies of Joint Stock Com - panies, the company may establish an Electronic Meeting System, which shall allow the right holder to attend to the meeting, and to vote or buy services from the systems created for this purpose. Within the framework of the Communiqué, the Company shall ensure that the right holders use their rights designated in related legislations during the meeting, from the system and established by the company, or the system being used by the company.” However, the Ministry of Trade published an announcement on March 20, 2020 for the purpose of preventing the spread of the Covid-19 pandemic. The announcement stated that if companies wish to hold a BOD meeting, but the above- stated clause is not already included in their articles of as- sociation, such companies may conduct electronic meetings by securing the services of Merkezi Kayıt Kuruluşu Anonim Şirketi (Central Securities Depository), and using its system called the “Electronic Board of Directors System” 2 and the 2 Electronic Board of Directors System is an information system of Merkezi Kayıt Kuruluşu A.Ş., which allows conducting boards of directors’ meetings in an elec-