NEWSLETTER-2020-metin

52 NEWSLETTER 2020 tive opinion must be obtained from the Ministry. The common docu- ments to be submitted to the General Directorate of Domestic Trade (“General Directorate”) within the scope of the applications are the notarized copy of the decision of the governing body regarding hold- ing the general assembly, as well as the financial statements and profit or loss statements of the company for the accounting period. Exceptions Companies that Decide on Distribution of Dividends in an Amount under TRY 120,000 Excluding the companies that employ those who receive short- term working support pursuant to additional Article 2 and provisional Article 23 of the Unemployment Insurance Law No. 4447, and/or who benefit from wage support due to being placed on unpaid leave within the scope of the Covid-19 measures pursuant to provisional Article 24 of the same Law, and which utilize a Treasury-supported loan surety, and still have unpaid loan balances pursuant to provisional Article 20 of the Law No. 4749 on Regulation of Public Finance and Debt Man- agement and the related Decisions, the limitations under provisional Article 13 of the TCC shall not apply to the companies that decide on the distribution of dividends in the amount of TRY 120,000, or below (Article 5/1-a of the Communiqué). In the applications of the capital companies seeking to benefit from this exception, the documents to be obtained from the relevant authorities evidencing that the relevant supports have not been re- ceived shall be submitted to the General Directorate (Article 6/1-a of the Communiqué). Companies that Decide on Distribution of Dividends to be Used by the Shareholders in the Fulfilment of their Capital Contribution Obligations Provided that more than half of the distributed dividends shall be used by the shareholders in the fulfilment of their capital contribution obligations towards another company in full and in cash in accordance with the provisions of the TCC, companies that decide on the distribu-