NEWSLETTER-2017

362 NEWSLETTER 2017 foundations with economic objectives would not be compatible with the nature of foundations 3 . Foundations may operate economic enterprises by way of estab- lishment or of assignment of an economic enterprise to the foundation 4 . Establishment of an Economic Enterprise by Foundations In the event that a foundation establishes an economic enterprise, it is required to be registered to the Trade Registry pursuant to Art. 55 and 56 of the Trade Registry Regulation 5 . Accordingly, the necessary documents that are required to be submitted to the Trade Registry Of- fice are as follows: (i) the title of the foundation, tax identity number; the letter of application including the name and surname, the place of residence, identity number of the persons that are authorized to repre- sent the enterprise, (ii) the statement of signature of the persons that are authorized to represent the enterprise, which is issued before public notary (iii) the official document indicating that the legal personality of the foundation maintains, (iv) a copy of the articles of foundation or a notarized copy of the articles of foundation , (v) a copy of the decision of the authorized body regarding the designation of the direc- tors of the foundation to this assignment, in case it is not specified in the application form or in the letter of undertaking, (vi) the notarized copy of the authorized body decision regarding the establishment and registration of the enterprise, (vii) the certificate of approval when the establishment of an economic enterprise by the foundation is subject to the approval or permission of a public authority 6 . 3 Doğan, Murat; Narbay, Şafak, “ İktisadi Amaçla Vakıf Kurulamaması Prensibi ve Vakfın İktisadi İşletme İşletmesi” , Erzincan Hukuk Fakültesi Dergisi, 2000, p. 442; Dural; Tufan, p. 360. 4 Doğan; Narbay, p. 448. 5 Ballar, Suat: Yeni Vakıflar Hukuku, İstanbul 2015, p. 583. 6 See as an example : http://www.ito.org.tr/wps/portal/tescil-ilan kurulus?WCM_ GLOBAL_CONTEXT=dernek_vakif (Access Date: 09.11.2017).