The Regulation on Procedures and Principles of Joint Stock Companies' General Assembly Meetings and Ministry of Customs and Trade Representatives Who Should Be Present At These Meetings ("Regulation") was published in Official Gazette numbered 28481 on 28 November 2012. Certain aspects of the Regulation have been changed by an amendment regulation ("Amendment Regulation") published in Official Gazette number 29515 on 27 October 2015.
The Amendment Regulation expand the scope of duties for chairmen of joint stock company general assembly meetings, as well as change eligibility criteria for becoming a Ministry of Customs and Trade representative.
Key amendments introduced by the Regulation include:
- The meeting chairman must determine whether the documents showing entitlement to attend the meeting comply with legislative requirements before signing the attendance sheet.
- The Ministry of Customs and Trade ("Ministry") holds an examination to qualify people to act as Ministry representatives. Prior to the examination, the Ministry will provide a training for the test takers. After completing this training, participants will receive a written and oral examination from the Ministry.
- To maintain proficiency of Ministry representatives, the Ministry may provide training, as well as undertake written and/or oral examinations from time to time.
- Persons who fail the Ministry's examination will not be assigned as Ministry representatives. Persons who fail the entry or proficiency exam three times in a row will not be allowed to take any further examinations for this purpose.
Please see this link for full text of the Regulation (only available in Turkish).
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
