Insights

Pursuant to the Law numbered 7263 on the Amendment of the Technology Development Zones Law and Some Other Laws (“Law”), published in the Official Gazette dated 03.02.2021 and numbered 31384, certain provisions of the Turkish Commercial Code numbered 6102 (“TCC”) have been amended. The amendments to the TCC mainly relate to the determination of authorized signatories and signature declarations, as summarized below:

• Signature declarations of real person merchants and those who are authorized to sign on behalf of legal entity merchants that used to be obtained in writing before the authorized personnel by the trade registry will, from now on, be obtained electronically from the signature data kept in the databases of the public institutions and organizations and will be recorded in the registry file at the central common database. If there is no signature record in the databases of public institutions and organizations, the procedures and principles of submitting the signature declarations of the authorized signatories to the trade registry directorate will be determined by the Communiqué to be issued by the Ministry of Trade.
• The trade registry records will be taken as a basis by public institutions and organizations regarding the authorized representatives registered with the trade registry and their representation methods. No documents regarding those records will be requested from the company other than the documents issued by the trade registry and the announcement published in the Turkish Trade Registry Gazette.
• The Law enters into force on the date of its publication.You may find the Turkish version of the Law here.