Communiqué on the Notification and Registration of Bearer Shares to the Central Securities Depository

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The Communiqué on the Notification and Registration of Bearer Shares to the Central Securities Depository (“Communiqué”) was published in the Official Gazette dated 06.04.2021 and numbered 31446. Pursuant to the Communiqué, the procedures and principles regarding the notification of bearer shares to the Central Securities Depository (“CSD”) and the registration process were regulated.

Significant rules introduced by the Communiqué are summarized below:

  • Information regarding the holder of the bearer share and the relevant company shall be notified to the CSD and registered to the system created for this purpose.
  • Share certificates that contain the unique number allocated by the CSD for each share certificate shall be printed by the relevant company.
  • Printing of the share certificates, notification of them to the CSD and delivery of them to the shareholders shall be concluded within three months following the date of full payment of the share prices.
  • The fees determined in accordance with the Communiqué shall be collected from companies and shareholders for the services to be provided by the CSD.
  • Holders of the bearer shares shall not use their rights attached to the shares until the necessary notification to the CSD is made.

The Communiqué will enter into force on the date of publication. You may find the Turkish version of the Communiqué here.

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