Foundations Of Turkey Turkish Bank Corporation Warning: You Are Viewing Act, The Parliamentary General Assembly Has Already Adopted. If It Does Not Include The Changes Made Later. Foundations Of Turkey Turkish Bank Corporation

Original Language Title: TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI Uyarı: Görüntülemekte olduğunuz Kanun, TBMM Genel Kurulunda kabul edildiği halidir. Varsa daha sonra yapılan değişiklikleri içermemektedir. TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here:

Law No. 4604

Acceptance Date: 16.11.2000

Article 1 - No. 6219 dated 01.11.1954 Turkey Turkey Foundations Bank Corporation Act in conjunction with Article 4 the title is amended as follows.

While Article 4 - Bank has indefinitely activity.
Article 2 - Article 5 of Law No. 6219 has been amended as follows.
Article 5.- The nominal value of each share of the Bank's capital by the amount specified in the Bank's Articles of Incorporation.
Article 3 - Article 6 of Law No. 6219 is amended as follows, with the first paragraph of the second paragraph of Article 7 and Article 14 is repealed the second sentence.
Article 6 - Shares (A), (B) and (C) is divided into groups, are registered shares.
Article 4 - paragraph No. 6219 of the amended Article 15 of the Act has been amended as follows.
Bank's Board of Directors; four (A), one (B), three (C) group is composed of eight members to represent their own stocks.
Article 5 - Law No. 6219 with the title of Article 16 is amended as follows.

General Manager Article 16 - will be governed by the General Manager of the Bank's work. Director General is appointed by the Prime Minister. Will be appointed as
Bank Headquarters in law, economics, business, finance, banking, it is imperative that the public administration and the disciplines or have seen at least a bachelor's degree in engineering related to these branches and banking or have at least ten years of professional experience in the business field.
Managing Director's term of office is four years. Expired Director General may be reappointed.
The expiry of the CEO can not be the end of the mission in any way. However, this Law and the 4389 Banking Law in accordance with convictions imposed on account of offenses committed in connection with or tasks were found to lose the necessary conditions for the appointment ends confirmed that the duty of the Director General.
Article 6 - The Law No. 6219 has been added to the following additional substances.
ADDITIONAL ARTICLE 1 - Share sale of shares in 2886 the State Tender Law and Public Accounting Law No. 1050 shall not apply.
Appendix Article 2 - General Directorate of Foundations (B) group shares sold through the IPO. Without the sale of these shares (A) it can not be decided on the sale of shares. (A) the sale of Class A shares and to determine the procedures and principles related to the sales of the Council of Ministers is authorized.
Provisional Article 1 - General Manager in office at the date of entry into force of this Act, from the effective date of the Law considered to be assigned again for four years.
Provisional Article 2 - 6219 Law No. Article 3 of the third paragraph of Article 14, the second and fourth paragraphs of the provisions of Article 15, the first of various Article 16 of this Law, third and fourth paragraphs Foundations General Directorate of shares 50% rates continue to be valid until the bottom of thought.
Article 7 - This Act shall enter into force on the date of publication.
Article 8 - This Act shall be enforced by the Council of Ministers.