NEWSLETTER-2017

49 COMMERCIAL LAW Holding Company Structure under Turkish Law* Att. Tuna Colgar Introduction The term “holding,” which is regarded as the framework that con- sists of more than one corporation, was legally defined as “ companies with the sole purpose of joining with other companies ” under Article 466(2) in the repealed Turkish Commercial Code numbered 6762 (“rTCC”). There is no definition for holding companies in the Turkish Commercial Code in force, numbered 6102 (“TCC”). A holding is a joint stock company 1 as regards its activities, and is engaged, solely, with joining other companies in terms of its subject matter 2 . Special Regulations Regarding Holding Companies Holding companies are subject to special regulations of the Ministry of Customs and Trade. Under Article 5 of the Communi- que Regarding the Increase of the Share Capital of the Joint Stock and Limited Companies to the Newly Determined Minimum Values and Determination of Joint Stock Companies, the Incorporation and Amendment of Articles of Association of which are Subject to Permis- sion published in the Official Gazette dated 5 November 2012 and numbered 28468 (“Communique”), holding companies are among those companies, the incorporation and the amendment of the articles of association of which are subject to permission of the Ministry of Customs and Trade (“Ministry”). Under Article 6 of the Communique, prior to the registration process before the trade registry directorate for the establishment of * Article of January 2017 1 Pulaşlı, Hasan, Şirketler Hukuku Genel Esaslar, Updated 2 nd ed., Ankara, 2013, p. 151-152. 2 Pulaşlı, Hasan, Şirketler Hukuku Şerhi, V. I, Ankara, 2011, p. 275-277.