Breakthroughs Introduced with the Draft Version of the Turkish Commercial Code – Volume II
What are the determinations for mergers, spin-offs and conversions? The Draft Version of the Turkish Commercial Code (“the Draft”) includes seventy articles for these three structure changes and such articles…

Breakthroughs Introduced with the Draft Version of the Turkish Commercial Code – Volume I
The draft version of the Turkish Commercial Code (“the Draft”) removed the current determination of progressive incorporation that is not applied. In addition, it is possible by the Draft for…

Duties, Authorizations and Obligations of the Board of Directors of Joint Stock Companies
Board of Directors (“the BoD”) of Joint Stock Companies is the body which manages and represents the company in the structure of joint stock company. In this regard, the BoD…

Amendments to the Incorporation Terms of Real Estate Investment Companies
Communiqué on the Amendment to the Communiqué on Principles regarding Real Estate Investment Companies (Serial: VI, No: 26) (“Amendment Communiqué”) has been published in the Official Gazette on December 31,…

Termination of an Employment Contract with Just Cause
A-) Employee’s Right to Terminate the Contract with Just Cause The employee is entitled to terminate the contract, whether for a definite or an indefinite period, within the presence of…

Overtime and Its Calculation
1. Term of employment is designated as maximum 45 hours a week. Overwork (overtime) begins when 45 hours of terms of working time is exceeded. Working extra hours (excessive work)…

Petroleum Market Law and Its Implementations
Petroleum Market Law numbered 5015 (“the New Law”), as determined in its justification, has been enacted by Grand National Assembly of Turkey (“GNAT”) at December 4, 2003 within the efforts…

Incorporation of a Joint Stock Company by Way of Conversion from a Limited Liable Company
You may find the brief memorandum below which explains the legal status of incorporating a joint stock company by way of conversion from a limited liable company in the system…

Content and Functionality of Signature Circulars in Practice and Under Turkish Law
Signature Circular is an official document signed before the Notary in which signature powers of the Company and its branches are determined and the limitations of such powers are detailed.…