The Union of Turkish Public Notaries announced that during certification of signature circulars, notary publics are not authorized to investigate and verify the registered decision's compliance with the entity's articles of association. The Board of Directors for the Union of the Turkish Public Notaries discussed the matter at a meeting on 30 November 2015, announcing the decision via Notice Number 9, on 17 December 2015 ("Notice"). The Notice amends the earlier Notice Number 1984/41.
The Board's grounds for the amendment are as follows:
- Trade registry managers and their assistants are responsible for checking whether registered facts are compliant with the articles of association and mandatory rules of law (Article 32 of the Turkish Commercial Code; Article 34 of the Trade Registry Regulation).
- Once a power of attorney has been registered at the trade registry, the company can only allege legal invalidity to third parties regarding the relevant assignments or elections if the third parties' awareness of the invalidity is proved (Article 373(2) of the Turkish Commercial Code).
- It is possible to file an objection action against Registry decisions within eight days of receiving the decision. The objection action should be filed before the commercial court of first instance where the trade registry is located.
Please see this link for full text of the Notice (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.
