Anonim ortaklıkların kendi pay senetlerini iktisap etme yasağı
Özet
From the point of view of joint stock corporations, "capital" is absolutely essential However, these kinds oscorporations are capital-dense corporations. They are defined in Turkish Commercial Code's 269th article. In this article it is pointed out that, these corporations have a specific capital and it is separated into units. Each of these units are called as a "share". The share is a concept which determines the share holderness. Also each person who has a right capacity can be a share holder due to Turkish Commercial Code. Yet, legally, for the purpose of making investments more efficient and surviving capital which provides investing for minor investors, purchasing of the shares is restricted. One of these restrictions is "the prohibition of purchasing its own shares on behalf of joint stock corporations". This prohibition is regulated by Turkish Commmercial Code's 329th article. Also it is prohibited for a joint stock corporation to charge on its own shares. By this way, a joint stock corporation's may have been survived and the creditors and investor can be in safe. In another sentence, concealing the real financial situation of a corporation may have been prevented. In contrast, a corporation which goes to bankruptcy may conceal this situation. 329th article also regulates the exceptions of the prohibition. There are six exceptions and these can not be expanded. If a joint stock corporation acquires its own shares demanding these exceptions, this situation is tied up to some conclusions. Subject to this, if a joint stock corporation acquires its own shares by demanding a decision concerns capital-reducement, these shares must be destroyed immediately. In another situations, they must be purchased right away. In our opinion, 329th article is essential for a state's financial position from the point of view of surviving capital, creditors and investors. However, European Union Council regulates some orders and by this way ties up some criterion s about the prohibition. If Turkish Law pursuits these regulations and detailed rules are enacted, it will serve integration and competing in global market.