Regulatory Alerts2014-06-25
Added · Updated
Communiqué on Authorised Capital System
The Capital Markets Board issued this Communiqué to establish the principles for corporations to enter, operate within, and exit the authorised capital system under Turkish law. It mandates that eligible corporations obtain Board consent to amend their articles of association, allowing the board of directors to increase capital up to a permitted upper limit without shareholder approval for five years. The document further details application requirements, financial constraints, public disclosure obligations, and procedures for Board expulsion or cancellation of board decisions.
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