Delegation of Management Authority of the Board of Directors in Joint-Stock Companies in Turkey

International Journal of Law, Volume 5; Issue 2; March 2019; Page No. 65-74

10 Pages Posted: 19 Apr 2019

See all articles by Gonenc Gurkaynak

Gonenc Gurkaynak

ELIG Gürkaynak Attorneys-at-Law

Selen Ermanlı Sakar

ELIG Gürkaynak Attorneys-At-Law

Büşra Üstüntaş

ELIG Gürkaynak Attorneys-At-Law

Date Written: February 27, 2019

Abstract

Under Turkish corporate law, the board of directors is the authorized corporate body for the management of a joint-stock company. Nevertheless, delegation of such management authority may be a significant need for the board of directors at some point due to a number of reasons. Considering the foregoing practical need, the Turkish Commercial Code No. 6102, which is currently in force, allows delegation of the management authority to certain board member(s) and/or third person(s) under the certain conditions. In this regard, this paper delves into legal bases of the management and delegation concepts starting with structure of the board of directors besides opposing opinions under the Turkish corporate law doctrine and controversial issues in practice. The paper also aims to provide the professionals with the information as to implementation of the delegation concept.

Keywords: Turkish commercial code, Turkish corporate law, joint-stock company, board of directors, management authority, delegation

JEL Classification: G30, K19

Suggested Citation

Gurkaynak, Gonenc and Ermanlı Sakar, Selen and Üstüntaş, Büşra, Delegation of Management Authority of the Board of Directors in Joint-Stock Companies in Turkey (February 27, 2019). International Journal of Law, Volume 5; Issue 2; March 2019; Page No. 65-74, Available at SSRN: https://ssrn.com/abstract=3363683

Gonenc Gurkaynak (Contact Author)

ELIG Gürkaynak Attorneys-at-Law ( email )

Çitlenbik Sokak No:12
Yıldız Mahallesi
Istanbul, Beşiktaş 34349
Turkey

Selen Ermanlı Sakar

ELIG Gürkaynak Attorneys-At-Law ( email )

Yıldız Mah. Çitlenbik Sk. No:12
İstanbul, 34349
Turkey

Büşra Üstüntaş

ELIG Gürkaynak Attorneys-At-Law ( email )

Yıldız Mah. Çitlenbik Sk. No:12
İstanbul, 34349
Turkey

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