YASED raised its members’ awareness on the New Commercial Code, which will take effect in July 2012 by the “New Turkish Commercial Code Workshop” it organized. YASED members found answers to their questions concerning the New Commercial Code at the training given by Assoc. Prof. Dr. Gül Okutan from Bilgi University Faculty of Law.

YASED’s “New Turkish Commercial Code Workshop” was organized on 29-30 March 2011 in collaboration with PwC. The subjects taken on by Assoc. Prof. Dr. Gül Okutan of Bilgi University’s Faculty of Law at the training were; “Joint Stock Companies”, “Auditing and Reporting” on the first day, and “Group of Companies”,   “Limited Liability Companies” and “Mergers and Divisions” on the second. The final session of the workshop was held as a discussion and evaluation meeting. The workshop was carried out interactively with the participants.

Dr. Okutan started her speech by explaining the Joint Stock Company establishment rules and informed the participants in detail on; board of directors, the establishment of board of directors, meeting order, representation authority, invalidity of board of directors’ decisions, borrowing prohibitions and the responsibilities of the board of directors. Senior Manager of PwC’s Auditing Department Mehmet Ali Demirkaya made another presentation on reporting and auditing on the first day.

On the second day of the training the “Group of Companies” was the first subject to be put under spotlight. Dr. Okutan gave details of the fundamental concepts and principles of the Group of Companies Law, mutual participation and the new responsibility system which the dominant company is subject to, and new rights for filing a law suit, and informed the
participants about the potential problems to be faced and the related solutions methods, with examples.

The second subject of the day was “Limited Liability Companies.” Dr. Okutan resumed her presentation by taking the opinions and questions of the participants and shared the stages of the limited liability company establishment process with them. The amendments to take effect for Limited Liability Companies were conferred under the headings; Articles of Association, shares and share transfers, additional payment obligations and loans substituting equity capital. The second day also included a look into “Merger and Division Transactions”. The conceptual and procedural changes in mergers and divisions constituted the headings of the
topics examined under this title.

The last part of the training was carried out as an discussion and evaluation session under the moderatorship of YASED Deputy Chairman Adnan Nas. Views were exchanged on; significant changes which concerned members collectively, secondary amendments of importance and subheadings which need yet to be clarified. The issue will continue to be on the agenda of YASED Law Group to be worked on and followed up in the term ahead.