Amendment on the Communiqué on the Electronic General Assembly System to be Applied in General Assembly Meetings of the Joint Stock Companies
Contents
- I. Introduction
- II. Relevant Article Before and After the Amendment
- III. What to Expect from the Amendment?
- IV. Effective Date
Sena Coşkun co-authored this article.
I. Introduction
As it is known, electronic participation in the general assembly and board of directors/managers meetings is possible as per Article 1527 of the Turkish Commercial Code. To participate in electronic meetings, companies must have the relevant meeting system and comply with the regulations introduced in the legislation regarding electronic meetings and infrastructure systems.
The provisions regarding the electronic system infrastructure that must be used in the general assembly meetings of joint stock companies and the organization of the meeting are regulated by the Communiqué.
II. Relevant Article Before and After the Amendment
Before the Amendment | After the Amendment |
“The access time of the system which enables electronic participation in the general assembly meeting of a joint stock company shall start one hour prior the announced time of the general assembly meeting and shall last until five minutes before the general assembly meeting time.” | “The access time of the system which enables electronic participation in the general assembly meeting of a joint stock company shall start at 06.00 am on the day of the general assembly meeting and shall last until five minutes before the general assembly meeting time.” |
III. What to Expect from the Amendment?
Access to the electronic general assembly system, which enables e-participation in the general assembly meetings of joint stock companies, making proposals, expressing opinions, and voting, shall be made possible at 06.00 am on the day of the general assembly meeting with the Communiqué on Amendment instead of one hour before the meeting time.
Additionally, access to the system shall be made possible until five minutes before the general assembly meeting as before. However, the amendment does not regulate the access time for general assembly meetings scheduled to be held before 06.00 am especially for foreign capital companies, due to time differences or any other reason.
IV. Effective Date
According to Article 2 of the Communiqué on Amendment, the amendment regarding the access time of the system enabling e-participation in the general assembly meetings of joint stock has been entered into force on 24.07.2024.
Successful