Open AccessRestriction on the Authority to Represent in Turkish Joint Stock Companies Law
Author(s) -
Sıtkı Anlam Altay
Publication year - 2019
Publication title -
european journal of social sciences
Language(s) - English
Resource type - Journals
ISSN - 2601-8632
DOI - 10.26417/ejss.v2i3.p58-66
Subject(s) - turkish , database transaction , law , business , enforcement , representation (politics) , scope (computer science) , stock (firearms) , law and economics , economics , political science , computer science , engineering , database , mechanical engineering , philosophy , linguistics , politics , programming language
Turkish Joint Stock Corporations Law is based upon Swiss Law. Turkish Commercial Code of 2012 reflects a pure reception of the rules regarding the representation of the company from Swiss Law. However in 2014, Turkish Law has confronted the enforcement of Art. 371/7 TCC, which enables restrictions on the representation authority in terms of the material and monetary scope of the transaction. This study aims to bring a critical view of this regulation and to introduce a draft for a well-directed regulation with respect to restrictions related to power of representation.