The Central Registry Agency Inc. ("CRA") has recently
issued a letter ("General Letter") on September 25, 2013
regarding support services to be provided by CRA which is a Central
Database Service Provider ("MTHS'') certified by the
Ministry of Customs and Commerce.
By way of background, Article 1524 of the Turkish Commercial
Code ("TCC") provides that companies which are subject to
independent audit according to Article 397 of the TCC shall
establish their websites within three months starting from their
date of incorporation (the "Companies").
At present, only Companies set forth under the Resolution of the
Council of Ministers numbered 2012/4213 shall be subject to
This being said, the Regulation on Company Websites
("Regulation") regulates the principles and procedures
under which the Companies are obliged to allocate a section of
their websites for information community services and publication
of the announcements necessary with respect to Article 1524 of the
By virtue of the Regulation, the necessity for the Companies to
establish a website commenced on October 1, 2013.
The Regulation further provides that the Companies may either
establish their website on their own or they may choose to obtain
these services from a MTHS.
Article 1524 provides further that Companies who fail to
establish their company website and their board members and
managers who are found to have responsibility may face criminal
You may find more about company websites in our previous
articles on the subject.1
Under its General Letter, CRA has announced that it will begin
to offer the abovementioned MTHS services to both companies whose
shares are being tracked pursuant to the provisions of the Capital
Markets Law as well as all other companies that are subject to
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