Period: 21 Legislative Year: 2 Warning: You Are Viewing Act, The Parliamentary General Assembly Has Already Adopted. If It Does Not Include The Changes Made Later. Capital Market Law Amendments To The Chambers Of Commerce And Industry

Original Language Title: Dönem : 21 Yasama Yılı : 2 Uyarı: Görüntülemekte olduğunuz Kanun, TBMM Genel Kurulunda kabul edildiği halidir. Varsa daha sonra yapılan değişiklikleri içermemektedir. SERMAYE PİYASASI KANUNUNDA DEĞİŞİKLİK YAPILMASI İLE TİCARET VE SANAYİ ODALARI

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Period: 21 Legislative Y.2

Warning: The Law you are viewing is considered to be accepted at the General Assembly of the TBMM. It does not contain any later delics if it exists.






Kanun # 4487    Date of Admission: 15.12.1999 

BULLET 1. - The item 10 /A has been added to the Capital Market Law dated 28.7.1981 and 2499.

Capitation of capital market tools

ARTICLE 10/A. -Capital market tools and rights to them are tracked down by a Haiz Central Register of private legal entities. This installation is under the supervision and supervision of the Board. The installation, operation, and audit of the Central Registry is set in a regulation that will be played by the Council of Ministers.

Records, from the Central Register, in the computer environment, exports, appliance setups and rights holders. Is held. The registered rights are not recommended in accordance with the 7 nci clause of this Law. The terms of the capital market instruments, the terms of the account or the loss of records, and the terms of the records and guidelines for the retention of records are determined by a foundation of the Board.

The capital being tracked When the third party rights on the market instruments are moving forward, the notice date for the Central Register is based on.

The board has rights to be registered under this article, which is the capital market for which rights are can determine their tools, types, and exports.

Share share, Turkish Based on the scope of the 417 clause of the Commercial Code, it is based on records that are held by the partners as of the registration of the concerned issuer at the registration of the Central Register.

The Central Register, They are responsible for the loss of their right-to-own rights holders from the loss of their own records.

About the staff of the Central Register, The 25th clause of the law is the provision.

MADDE 2. - The Capital Markets Code is to be located in the United States, along with an 11th article, including article 11.

Common provisions

Article 11. -The shareholders of anonymous partners who are part of the share of the pay are publicly traded, and these partners are subject to public anonymous partnership provisions.

The board will retain the registration of those issuers. They will have to report to the Agency within thirty days from the date when capital markets are sold to the public in any way, or when public anonymous partner status has been earned. The partner's auditors are obligated to notify the board and the Board of the issuer at the time of their death.

In the review board, the securities of the securities that are subject to this Kanuna have been agreed to be the second hand market. If the Board considers the direct or indirect common number of partners or balance sheets, the Board may return the stock exchange to its securities.

Exports of this Law include the anonymous partner. Those who are not, the capital markets, the people who do not supply the public, the active sum, The gross of the gross selling, export or supply amounts of the Board or the issuing or supply of the other capital market instruments or the obligations arising from those of the Board of the Board of the Board of the United States are either free or fully exempt. They can be held. These exemptions are determined by the exemptions of the issuance or removal of exports from the Board of Public and non-IPO.

On the basis of the principles that will be set up, the national or international markets are available for treatment. as a result of the convenience of the securities that are provided by the securities that are issued to them, in order to facilitate their convenience, "securities of the securities that are being sold to the warehouse".

Nama has been exported as a write-in, stock exchange or rec. Turkish stocks that are continuing to take stock in other markets. Notifying a meeting of a meeting by sending a committed letter to the partners in article 368 of the Commercial Code does not apply.

Public anonymous partners are the second and third of the 388 articles of the Turkish Commercial Code. If there is no provision in the general assembly meetings for the articles of the United States, contrary to their main commitments, the meeting of the Turkish Commercial Code of 372 nci is applied.

The Turkish Commercial Code 341, 348, 356, 359, 366, 367, and Share holders representing at least one-tenth of the main capital in 377 nci items The rights to the public are used by shareholders in public anonymous, representing at least 20 of the paid capital.

The Ministry of Industry and Commerce to address public statements of anonymous associates. It is mandatory for the appropriate view of the Board before it is started.

MADDE 3. - Reorganisation of the 12 nci items of the Capital Markets Act in accordance with the Constitutional Court's annualized receipt.

The decisions of the Board of Directors on the basis of the basis of the basis on the basis of this article are the 381 The members of the board of directors, auditors or members of the board of directors of the First Section of the pearl clause, the owners of the anonymous partner center within thirty days after the declaration of the decision, will file a cancellation case in the trading court. they can open. In this case, the provisions of Articles 382, 383 and 384 are applied to the cancellation of the general assembly decisions of the Turkish Commercial Code. The company is obligated to notify the Install of the state until the end of the three days following the date that the case was opened.

MADE 4. - Reorganizing the 13 /A clause of the Capital Markets Code under the Constitutional Court's last cancellation.

They will receive and hold the building of their decision until securities are pushed out of the country. There are no savings, no hostages, no collateral, no collateral for any purpose.

MADDE 5. - The capital Market Law is the 15th of the Code.

The basis of dividend and no-feepaylarýn

Article 15 is the basis of the following. -It is imperative to show the first dividend rate in the main commitments of the publicly anonymous partners. This rate cannot exceed the amount to be declared by the Board and will be declared with the tellicity. The board may remove or delay dividend requirements as of the types of exports and the possible profit amounts.

With members of the board, the officer has been sentenced in accordance with the basis for taking a share of the profits and the workers. It has to be found. Spare accusers that must be separated by the law and the first dividend specified for the share of the main promise is a share of profit after the first dividend, transfer to profit the following year, and profit from the officer, civil, future, and workers. Regardless of whether the first dividend is paid, it will not be able to share profits.

As of the end of the dividend account period, all of the current shares are available for export and the dates of the time

Public anonymous partners are subject to capital market legislation. in accordance with the financial statements and tax breaks that are required to separate from their profits, laws and basic statements, which are in the financial statements of their financial statements as of midterm periods of time. Failure to cross the remaining part of the remaining part after the start of the event, provision of authority and authority to the board of directors, including a general assembly's decision, may result in the failure of the remainder of the country. The dividend benefit from the previous year's balance sheet will not be able to take place in every interim period.

It is not possible to make an additional dividend advance and dividend without being ashamed of the dividend advance paid in the previous period. The provisions of the Turkish Commercial Code, balance sheet and income table and the acceptance of the profit and the acceptance of the profit are not applied to the acceptance and profit of the benefit of the benefit of the advance. The board members and their representative are legal entities, company auditors, and real and legal entities, which they control, and the fact that they do not actuate the actual balance sheet and revenue tables, and accounting for the legislation. for damages that are not organized in accordance with the policies and rules, share holders, shareholders, shareholders, and the dollar in a balance sheet of the balance sheet paid, or the amount of the balance sheet. They are responsible for the third and third party, who have been involved in the economic and economic development. . In the event of legal liability, shareholders, members of the board of directors, auditors and the Board of Directors may file a cancellation case within thirty days of the decision of the decision by the auditors and the Board within the framework of the merits of the under-12 matter under the merits of the article. The Board is authorized to audit and correct the balance sheet and income statements, including the correct review of the obligations arising from the laws. The provisions of the tax review of the Tax Usul Code are withheld. The guidelines for implementation of this account are determined by the Board.

In the capital increases of publicly anonymous associates, no-cost shares are available to existing shares in the history of increased increases.

Public anonymous partners; management, auditing, or It does not reduce profits and/or assets by means of a significant price, wage and price, such as implementing a price, price, and price, which is evident from the capital balance, or as a result of the capital's experience as a result of the capital's experience.

MADDE 6. - Capital Markets Law No. 17 is the current state of the capital.


Article 17. -The Capital Markets Board, which has the public legal entity to do the duties and powers of this Law and to use the authorities, is the establishment of the Capital Markets Board.

The board is one of the seven members, one of which is the president and one is the second one. The Board uses its authority as an excuse for its own responsibility. It's called Ankaran. The Board may open the office where required.

The relevant Minister shall audit the expenses of the Board's expenses and expenses; take the necessary measures with the audit results.

Related to the audit results, and the A report showing the measures received is presented to the Council of Ministers by the relevant Minister in conjunction with the annual report of the Board.

ARTICLE 7. - Capital Market Law No. 18 is the product of the capital.

Selection and appointment of members and their members

Article 18. -The Board is a member of the Turkish Capital Markets Association with two, Finance Ministers, Industry and Trade Ministers, Banking Regulation and Supervision Agency, Turkey Chambers and Commodity Exchanges of Turkey, among the four candidates to be proposed. Two of the two candidates to be proposed by the Council of Ministers will be appointed by the Council of Ministers.

The Council of Ministers appoints one of the candidates as the President. The board will select one of the members and one of the members as the second one. The first permission of the First Minister is to have the disease, domestic and patriotic duty, duty and duty to the president.

MADE 8. - The Capital Market is to be located in the 19th section of the Code.

Appointment and task durations

Article 19. -They will be assigned to the Board and its memberships;

a) Law, economics, finance, banking, civil administration, public administration, international relations, engineering and dengue have at least four years of undergraduate level education, engineering and engineering. in the fields specified, graduate level (s) at the level of undergraduate level were conducted in the specified areas, and dated 14.7.1965 and the first of 657 of the State Officers Act, the first receipt of (A) has 1, 4, 5, 6, and 7 of the ,b) The financial markets, the economy, the finance, the

Required to be an expert, auditor, manager or member of the law in the field of law, capital markets, banking and finance, or in the areas of finance related to those areas.

The board of the Board and its members have been underserved. They can be selected again. About one-third of the members in the west are a new one in two years. If the members and memberships have been left undue for any reason without due process, then within two months of the above-mentioned basis, the selection and assignment will be made. In this case, the assigned ones will complete the durations of the assiglials. After more than six months, the members and members will be assigned to their locations within two months of more than six months if the temporary and non-relatable causes of illness, accident, and sair are required.

Board and members of the Board of the Board of the Board of members They can't be done without it. However, the Board and the Board of the United States, whose duties have been determined as they have lost the necessary conditions for their appointment, or whose status has been determined to take part in the 20-part of the Act, are the ones that have been determined to have a conviction for the crimes they have committed. members are dismissed with the Secretary's approval before they expire.

MADE 9. - The Capital Markets Code is to be located in the 20 nci.


Article 20. -The Board of the Board and its members may not receive any official or special duties, trade and trade, free trade activities, pay non-remunal conferences and lectures, all kinds of commercial purposes, cannot take any official or special duties on the basis of a special law. They can't have a share in the partners. The Board President and its members share their share of the finances before taking office, and to sell or transfer stock of stock funds in its portfolio to the third degree of blood and second-degree water to the second. He's got to get rid of it by way of hand. Members who do not act in accordance with this provision within thirty days are withdrawn from membership. The Board may not be able to manage the President and its members, associations, foundation, co-op, and so on.

MADRID 10. - The capital of the Capital Markets Law, the first of the 22 nci items that were cancelled at the Constitutional Court (j), (n), (r) and (s) reorganized in the same way, (c), (d), (d), (h), (i), (k), (l) have been disinfused, the fikking (t), (u), (v) and (y) have been added to the end of the matter with respect to the end of the matter.

c) The standard rationals for the use of the financial institutions and resources of the capital market institutions, subject to this Law, are generally or may not be in place of business or enterprise. as of its types, the process of spreading these rascis and düzenlemekd) In the capital market, including the electronic media, including the electronic media, to determine the essential basis; in the capital market, which is authorized to audit by law, dated 1.6.1989 and number 3568, we are not The audit activities will include the installation and operation of Turkey's Free Accountants for Free Accountants and Yemeni Financial Services Rooms, and lists the following actions. Declared,

g) Any communications that concerns the capital market to monitor and notify the appropriate installation,

h) the provisions of this Law, to prohibit the broadcast, announcements, and advertisements that were made with their tools and to provide them with the appropriate installation. to examine other documents with tables and reports, to export the necessary matters, and to request a report from the agency auditors or auditors, to request a report, to take the necessary measures as stated in the Law,

i) General provisions on public boards of public anonymous partners to determine the basis of voting within the framework of the vote and to the extent to which management control may be used in these partners, whether all those who collect or share surrogants are responsible for selling other shares and in the to make arrangements for selling dividends to partners or groups that have also seized control,

j) Economic and financial indicators, capital market instruments, mala, precious mines, and tattooed futures and options. All kinds of derivative instruments, including their commitments, on the basis of the purchase and sale of these vehicles. to regulate the main and procedural issues in the markets and to regulate the control, business policy, and essences of the instruments, collateral, swap and retention systems, and

k) the return of the capital market instruments, or the control, The commitment to sell and sell, related commitments, and market action rules for those commitments, and determining the policy and essences associated with these actions,

l) Borrow and export of the capital market tools to determine the principles and principles of the business and the Treasury, and the Treasury Making arrangements with respect to capital market instruments,

n) Capital market instruments, and capital markets institutions and capital markets are being made to make arrangements with respect to the country's Central Bank and the Central Bank of Turkey. To regulate and control the ratings of the market tools,

r), to determine the real estate for real estate, to identify and install organizations that are capable of operating in the capital market. declaring in lists,

s) Media in the capital market and to determine the principles and principles that will be found in the recommendations, including the electronic environment,

t) they will engage in capital market activities, with the business and installation of this item (r). The management of the capital markets institutions, the professional and professional drivers of the capital markets, to determine the basis for the issuance of certificates, to establish the center for these purposes, and to determine the basis of the activities,

u) All kinds of electronic information communications tools and environments, including Internet, and Export and control of the capital market activities and operations with the real export and public goods through such tools; to regulate and control the use of electronic signatures in the scope of these laws within the framework of the general provisions,

v) The law, subject to the anonymous partners ' general assembly, and the election of members of the board of directors, can be used for each membership in decisions, whether the vote is cumulative or entirely in the selection of one or several members. to make arrangements for the method ofsermayey) capital of wildland countries with its regulatory and regulatory counterpart, to make all kinds of information related to capital markets and to provide information.

Board powers, by establishing regulatory actions, and making special qualified decisions. It uses it. Regulations and emails from the editor are published in the Official Gazette and are then used. Those interested in the public opinion of the special qualified decisions are announced to the board of the Board of Haftalink.

MADDE 11. - The Capital Market is to be determined in the first part of the 23rd Amendment.

The Board will collect at least five members, including the President, and make a full decision.

MADE 12. - Two additional funds were added to come after the second phase of the Capital Markets Act's article 27, and the third storm has been resuscible to the fourth, and the fourth fir is from the text.

5434-number T.C. Retired In the implementation of the Sandal Code, the pension direction, the Undersecretary of the Board, the Undersecretary of the Board of Members of the Board of Directors of the Board of Directors of the Board of Directors of the Board of Directors, General Manager of the First Division of the Board of Directors of the First Division of the Board of Directors of the First Division of the Board of Directors of the First Division of the Board of Directors of the First Division of the Board of Directors of the First Division of the Board of Directors of the First Division of the Board of Directors of the Board of Directors of the First Division of the Board of Directors of the Board of The Board and the winning rights are first-degree and the Board of Additional indicttable and paper compensation are applied to the experts ' Treasury Specialist. The times that are passed on these tasks are passed on the tasks that require the paper compensation to be paid.

The members of the Board and its members will be disconnected from their former tasks in the process of the Board of Duties. However, those who are subject to the 657 State Officers Act or the personnel regime regulated by the special legislation are appointed to their acquis by the relevant Minister after the end of their duties on the Board. The resources required to win academic titles are saved.

MADDE 13. - Capital Markets Act 28 (a) in the United States.

a) The Board of Directors and the members of the Board are concerned not to exceed the charges, including the highest number of charges, including any of the charges. the Council of Ministers upon its proposal. At the same time, the Board is paid four bonuses per year to the President and its members. However, the annual sum of the bonuses to be paid in one year cannot exceed the total amount of bonuses that will be paid to the highest state officer in a year. Those who are paid to the highest state civil servant shall not be subject to the Income Tax, according to this Law, are not subject to Income Tax. No payment will be made by any means.

The board staff will be determined not to exceed the amount determined for the members of the Board of salaries and other financial rights.

Board officers and the statement will be played with the statement. The staff members ' staff and their fees are based on the Council's proposal and the relevant Minister's proposal to the Council of Ministers.

MADRID 14. - The first case of the Capital Markets Act was reorganized by the first case of the first case of the Constitutional Court (c), and (f) and (f) had been reorganized, (f) had been added to the following (f) to come after (f) and The second fund revoked by the Supreme Court is reorganized.

c) Any derivative of economic and financial indicators, including capital market instruments, property, precious mines, and tattooed futures and option commitments. araçlarýnýnd) Capital market tools to build tools for purchase Return or sell commitment,

f) Portfolio management and management,

g) activities of the Diyer capital markets institutions.

Authorized installations within the 31st framework of capital market instruments. to their own nam and account, their own reputation and account.

MADDE 15.- Capital Market Law is available in the United States as well as item 34.

The vehicle Installation of installations

Article 34. -The tools for the vehicle installation are based on the Board of the Board of Operations. The board is authorized to make arrangements for the execution of each of its vehicle activities by the separate board. They may also be able to install, within the guidelines set out to the Board, in other capital market activities.

It is mandatory to install a stock market membership document on the relevant stock exchange.

Appliance The principles of the institutions of the institutions and the central institutions of the institutions are set to the Board. The central organization of the broker institutions is permitted.

It is imperative that the agents of the broker have sufficient sufficient funds to control their compliance with capital markets policies and legislation.

You are installing the capital, capital Due to the market activity, the type, quantity, usage area, and level of the collateral will be determined by the Board. The guarantees cannot be repawled, involuble, unsaved for use, and are not transferred to third-place people.

It is imperative that the Board of Capital markets leave the Board at the time of their share of the market. According to this receipt, the government will not be enrolled in the share book. The records that are made to the pay book are void. The guidelines for implementation of this framework are set to the Board.

The guidelines for foreign installations of capital market activities are set to the Board.

MADE 16. - The Capital Markets Code is added to the end of the current 36 ncu.

In the installation of real estate partners and capital increases, the provisions of the Turkish Commercial Code may be held in the same capital. The ring supply is regulated by the public offering of the same capital, and the 404 clause of the Turkish Commercial Code is not applied.

MADDE 17. - The Capital Markets Act is reorganized in accordance with the 39th item, which was cancelled by the Constitutional Court.

The institutions of the capital marketsDiðer

Article 39. -Install and operate capital markets, exchange and store capital markets, rank, export and control of capital market institutions, and are installed in other capital markets, sleep and management. The companies that fulfill capital market activities such as portfolio management, asset management companies, partners and installs are on the basis of this issue, which is identified in Article 13 /A of this Law. The general financial partners founded in order to export the items to the mortgage are due to the mortgage a branch of securities, venture capital yacht funds, venture capital yacht partners, and futures companies, and portfolio retention.

MADRID 18. - The capital Market Law is set to be $40 per cent.

Markets and remunerymarketsdiðer

Article 40. -The stock market instruments will be able to easily take advantage of the securities and other capital market instruments in confidence and stability in accordance with the principles written in the special laws, as well as in the form of a free competition. The public legal entity, which is authorized to sell and identify prices that have been established, will be able to identify the public legal entity, which is established in charge of identifying and identifying.

Financial and financial indicators, capital market instruments, mala, precious mines and tattooed. from all kinds of derivative instruments with the promise of futures and options the legal entity that the capital market instruments will see, It is established with the approval of the Council of Ministers upon the proposal of the Board and the relevant Minister. These exchanges are determined by a regulation that will be set up by the relevant minister, as well as the principles and principles of the establishment, operation, operation, control, membership. If these exchanges are set up in the anonymous company, they will not be able to increase more than 20% of their annual profits. The capital market instruments in this fund are exempt from the stamp tax.

The property of the borrows is the State property. The stock and board members of the stock exchange and its staff are the 25th provisions of the Law.

The board is capital markets with markets that will allow small and medium-sized enterprises to fund capital markets. Authority to make arrangements for the installation of and to ensure that they operate within the trust, opening, and determined operation of the vehicles and the construction of the trust, trust, and resolution.

The board includes the following: monitor and control of markets and other technical markets merciidirAccording to this Law, the exchanges are governed by a special budget. Budget year calendar year. Budgets and staff staff are committed to the general assembly on the board of directors ' proposal. The 5% of their income, which is the stock exchange, the registration fee, the registration fee and the share of the stock market, are recorded in the budget of the Board. Upon the request of the Board, the Minister may decide to increase by 10%, the types of stock exchanges and the higher levels of development, or the Minister for the decision not to allocate any shares. Based on this item, however, the Enterprise will be able to save revenue-expense variance and anonymous partnership-by 10% of the year's net profit and the anonymous partner's net profit. It is mandatory to make payments according to this item until the end of the fourth month of the latest calendar year following the month of the month.

MADE 19. - The $40 /B item is added to the Capital Markets Act.

Turkey Capital Markets Install Union

MADCAP 40 /B. -To be involved in the capital market activity in Turkey, authorised by this Law, to become a member of the Turkish Capital Markets Board, Turkey's Capital Markets Board, which has a business as a legal entity, is a business organization. They have to. For this, the relevant installation is responsible for making the necessary contact within three months of the time the vehicle has been installed. The Board of Directors ' activities, which are not complying with the following obligations, are stopped at the Board.

The Capital Markets Board of Turkey, a member of the capital market and the development of the operations of the capital, will conduct a search for the members of the Union. to take necessary measures to prevent competition, to take necessary measures to prevent competition, to take necessary measures to prevent competition, and to prevent the right from competition, or to set up any of the issues that are set up by the Board to make arrangements, to execute, to audit; in the status of Union In order to provide disciplinary penalties for the purpose of granting the foreseen disciplinary action, it is incumbent and authorized to provide members with relevant set-up, following their professional development, administrative and legal regulations.

In the decisions and regulations of the Union, the Union is obligated to comply with the Law, the Board of Directors, the subject and the decisions of the capital markets.

ARTICLE 20.- Capital Markets Act 40 /C (s) added.

organs and statusBirliðin

MADDE 40 /C. -The mandatory organs of the Union, the general assembly, the board and the audit are established.

The selection of the organs of the Union of Capital Markets of Turkey, by the members of the Union within the framework of the principles stipulate in this Law, by secret vote and judiciary. olmadýðýThe list that determines the members and representatives of the Union, who will be elected at least ten days before the general assembly of elections to be selected, has no agenda, location, day, time, and no rest. with a written statement of the second meeting that will be done The Board of Elections, which will be determined by the Council of the High Elections, will be determined by the Council of the Supreme Election. The judge assigns the necessary review and assigns the list and other considerations, a sandwich board member, and a member of two of the sandwich board members to assign them to a backup member. The voting process is based on a secret ballot, based on the secret ballot. At the end of the election, the results of the election have been identified and signed by the chairman and members of the board. Any objection to the elections within two days of the arrangement of the minutes is reviewed and final.

The Union's organs, revenues, expenses and expenditures are based on membership, acceptance, and acceptance of the Union's actions. The membership of the Board of Ministers upon the approval of the Board of Ministers upon the recommendation of the Board and the appropriate decision of the Council shall be arranged upon the membership of the Board and the appropriate. The Union will gain legal entity with the effective entry of the Statün. The Board may, at the request of the Union, or redo, offer the Minister's view of the Office, and offer the Minister's view of the Status of the Union. The status may be considered as relevant to the relevant Minister, and by the decision of the Council of Ministers. If the Union's funds are not paid within the period specified in the Statude, You can be collected by the Union through executive order. The decisions on the payment of Union grants are in the case of the official document written in Article 68 of the Law of 2004 and the 68.

Members have to comply with Union Status and the Union's decisions.

All kinds of business and other The accounts are audited by the Board. The rejection of the member's admission, provisional and permanent dismissal of the Union's competent body, may be appealed to the Board within ten days of the decision, following the decision of the Union's official. Decisions to be made to the Board are final.

MADDE 21.- The Capital Markets Code is to be announced in the following article 45.
Officials in control

Article 45. -The implementation of provisions relating to the capital market of this Law and other laws and audit of all types of capital markets are made by the Board of experts and experts.

The Board appointed to the Board is an expert and a expert help, to ask for information about the provisions of this Law and other legal entities regarding the provisions of this Law and other laws from real and legal persons with exports, capital markets institutions, people and real and legal entities. examine the ledger, records and documents, and the skills of the source of the information. are authorized to take samples of these, control their accounts and accounts, write and receive verbal information, edit required minutes, and provide information, documents, ledger, and sair vastauses, for example, and oral information. They are obligated to provide information and to sign the minutes.

In the framework of the first and second fikra provisions, the real and legal entities are required to provide information, saying the privacy and secret retention provisions of the special laws. imtina.

By experts tasked with control If documents, documents, files, records, and other documents are not delivered or delivered, they may be searched for exports, capital markets institutions, people of their own, and their installation. The call could be made if the board of justice decides to make a call with a justified criminal code, while the magistrate has decided to make a call at the desired location. Any notebooks and documents that are found in the search and that are needed to be examined are identified by a container and are shipped to the site where it is not possible to inspect it, as well as to the location of the inspection. As a result of the search, reviews on the received ledger and documentation are returned within three months at the latest, returning to the owner of a key.

This article will be made to the The provisions of the Tbligat Law apply.

ARTICLE 22. - The first case was reorganized in the first phase of the Capital Markets Act, the first of which was cancelled by the First Amendment to the Constitutional Court (c), (g), (h), (i) and (j) and the second, third and fourth phase of the provisions of the capital. (a) and (f) they have been defied, this is the receipt and the end of the matter is added to the end of the matter.

a) The construction of the enterprise without obligation of the establishment is made available to the public with its supply and sale operations, and without the use of capital markets to receive any necessary precautions to be stopped; comply with the obligation to register The state of supply and sale as a result of supply and sale as a result of the need for precautionary measures and precautionary foreclosure, to sue or follow suit within six months from the date of precaution and foreclosure. to make a case for the cancellation of all legal and criminal liability records, three months from the date of the results of the cancellation of the results of the capital market activity and the consequences of the cancellation of the results of the results,

c) This is the law of the anonymous partner and capital markets, the law, the main commitment. to prosecute or to sue for the reduction of capital or loss of capital, or to sue for cancellation or cancellation of capital, Turkish Commercial Code provisions, and the provisions of the law. To ask for a precautionary measure to resolve any details and request the appropriate actions to be taken,

f) the appropriate notebook, paperwork, file, record, and so on, to ask for the appropriate actions to be taken and to make the following actions. and information will not be delivered to or delivered to the elderly. If, in the event of a requirement, a claim to the court,

g) the capital markets institutions are involved in determining the compliance of the legislation, the essential commitment, and the provisions of the statute of law. To request compliance and compliance with the purpose and policies of the law, intent to use, and to request compliance to the law and policies until the trial results in the right to be fired. To remove or remove; not to remove the details or In the event of a failure to resolve, to take all necessary measures and to temporarily or continuously stop and remove the activities of these institutions,

h) The capital markets, the financial structures of the capital markets to request the strengthening of their financial states; within the appropriate period of time to be granted; to request the strengthening of the signatories; to remove or remove the signatures of the authority of the institution; within this period of time, these institutions will be required by these institutions. If the measures are not taken, or their financial commitment To take the necessary measures, to temporarily halt or cease their activities by temporarily stopping or stopping the activities of the institutions, without any time, to take the necessary measures in the event that they are too weak to process; the need for a to determine their measures if they are not taken, and to ask for insolvence following the end of the liquidate or to the measure,

i) The Code 47 nci (A) of the Law is subject to the following verbs, or The actual or legal entity identified by the Board as they were to be executed to take the necessary measures to prevent people from creating temporary or sustained action in the exchanges and other markets,

j) the public boards of public anonymous partners, voting rights, in need of a vote. to send an observer,

k) your partners with more than 10% of the capital market institutions (h) enter a measure of discretion, or in case of bankruptcy, with the record of being identified as a liability to the board. the board of directors who have been relieved of duty or are still in office

The assets of the capital market institutions that have been repeatedly removed are due to the Council's decision to ask for bankruptcy if you and the executive directors of the signor fund managers ask for the insolvence of the business. After the completion of the measure, following the liquidation of the measure, or if the legal liquidation is filed under the measure, it is in the framework of the liquidation of the bankruptcy request until the court is decided on an effective basis. Except for the sanctions to be done by the Conservation Fund and the Board, the third They cannot be transferred, repawnable, inexcusable, inexcusable, all of their executive followings.

In the capital market, there are no unauthorized activities, authoritative documents are cancelled or their activities are temporarily closed. Although they were stopped, trade titles, provinces and advertisements were prosecuted for the fact that they were responsible for the fact that they were responsible for the fact that they were using the word or the phrase to create an indent in the capital market, but in the delay. the largest property at the request of the council, in the case of the residents. It may be able to collect documents, advertisements and advertisements in the law, as well as the advertisements and advertisements that may be temporarily shut down by the supervisors and will be stopped by advertisements and advertisements.

Authorizations the first fiscals (g) and (h) of this matter. The removed officers will not be able to play as authorized personnel to the signature of any capital market institutions as they are not permitted by the Board until the benefit of their rights.

The first section of this Article (h) has been temporarily disabled It is also about the assets of the capital market institutions that have been discontinued. until the temporary stop decision is issued, the second phase is imposed by the date of the permit to be put into operation again.

The Board of Cases and Conclusions of this article shall be issued by the Board, in all cases and fees. exemption.

MADRID 23. - The Capital Markets Code is reorganized in the United States, along with the 46 /A-case revoked by the Constitutional Court.

The Protection Fund

Article 46/A.-Arbitration was issued to either liquidation or insolvate. The provisions of the 50 nci clause (a) of this Law, whose activities are halted by the Council of Ministers ' decision to remain withheld by the provisions of the Council of Ministers and the provisions of the Law of Ministers, are due to the capital's capital market activities and actions. Cash payment and stock exchange traded on the client's stock to fulfill the delivery obligations and the tasks held in article 46 /B of this Code based on the basis of the basis of this Law, and the legal entity Protection Fund is established to satisfy the liquidation expenses. All installations are required to bear this Fund.

The Fund is managed and represented by the Central Register of the Center for keeping up the capital market instruments. The management and management of the Fund is determined by a regulation on the basis of the Board.

The board is authorized to review and audit the Fund ' s accounts and works, asking for any information from the fund in this manner. According to the results of the inspection and audit, the board may request the replacement of the required considerations and request the transfer of the management of the fund to the Minister of the fund, as required. The relevant Minister is authorized to decide the provisional or permanent transfer of the fund management.

The Fund is subject to the provisions of the Code of Public Dignity and the Law of $1050, the Law of Public Hope, and the Law of 832, with the 2886-numbered State Law of Dignity. It isn't. The Fund is controlled by the Sağağağaği. Revenue and operations of the Fund are exempt from all kinds of taxes, images, and fees.

Fund revenues;

a) Reimbursement of agents,

b) Board, exchanges of securities, and Turkish Capital Markets Installations The administrative fines issued by the United States,

c) interim funds set by the Consistent Board,

d) the return of the Fund entity,

e) of Digits,

The Allowance.

The payment of the above payment (a) to the Fund account in the amount of time that the temporary allowance will be determined shall be determined by the end of the second month of the following year. For each month, non-sleeping allowfunds apply a delay rate to be determined at the rate of the previous month in the State Government Institute Consumer Price Index, with a rate of delay to be determined by the Board.

By installing The amount of the annuities that will be laid is determined by the Board in which the monetary amount of the annual stock transaction volumes will not be in the process of one. The board is authorized to ask for a payment of the type of vehicle installation and rates of risk, as of the nature of the installation, as well as the risk states.

If the Fund does not have the right to meet the need, then, the They will be paid for later years, while the financial amount of stock volume volumes in the previous year may receive a temporary allowance of up to one tenth of the monetary amount. Failure to meet the need for this payment is provided by the Istanbul Securities Exchange for the Fund.

The Fund cannot be repawled, unable to show collateral, third parties may not be able to demonstrate.

This is determined by the regulations on the use of the Fund entity and its essentials, the temporary payments, and the repayment of the advance.konularArticle 24.- The Constitution of the Capital Market Law The court heard 46 /B items, including the one that was canceled. reorganized.

Telricici liquidation

Article 46/B.-A decision can be made to the Board of the agency that has the authority of the first section of the Code (h) of the code 46, which has been removed from the authority. The liquidation of these institutions is carried out by the Protection Fund.

The purpose of the financial liquidation is to allocate the cost of the goods to and from the cost of the goods, depending on the nature of the law and the transfer of the cost. The cash payments and capital market instruments are to liquidate their obligations due to capital market activities. The provisions of the Turkish Commercial Code, the Turkish Code of Commerce and the Law on the Law and the other legislation are not applied to the liquidation of the Turkish Code of Commerce. Application process and principles of the measures of the agency's measures are shown in a Council-prepared regulation.

After the decision to liquidate the request, the agency's legal bodies will be able to obtain the duties and powers of the agency until the liquidation is concluded.

The management of the portfolio, including the yacht fund and yacht partners, and the management of the portfolios can be decided on the board of the Board of Directors. However, the first financial (h) of article 46 has been retained.

The agency's decision to liquidate funds will halt payments and all assets may only be saved by the Fund as of the date of this decision. The fund detects the active and passive part of the agency. The agency's obligations under liquidation were due to the sum of the main money and business interest in history, which was given to the liquidator liquidation, and the capital market was not to be made, if the capital market was indebted to its debt. If any, the delivery on the delivery is calculated on the cash deans that will be available as of the market pattern on the day of the day when the default measure was issued, otherwise the measure was issued. The rights and liabilities due to the promise of the agency after the decision of the institution's measure were issued are determined as of the time of their return. As of the date of the effective liquidation of the agency, the maturity of the institution, the maturity of the entity, and the current liabilities of 3095 are the statutory default interest, which is stipulated in the third form of Article 2 of the Law of the United States of the United States. Under the regulatory stimulus, the agency's statement also considers the action's account.

The Fund will receive the actual rights and credits included in the liquidation of the agency, the registration of the Board, the registration of the agency, based on information and documents that are trusted with the records of other official and private institutions that are related to the installation. A cancellation case may be filed by the Fund if written in Articles 278, 279, and 280 of the Canary and Bankruptcy Code.

The stock, which is not subject to the Tedrici liquidate and is entitled to bankruptcy, includes the shares in the sbanks’ Cash and stock receivable from the securities are paid by the Fund's approval to the Fund's approval and the amount of credit that appears on this roster. The relevant legislation, the cash and stock receivable of the banks, the real rights holders, and the bank's management of the bank's management, were transferred to the relevant legislation, according to the regulatory warning. are identified and are based on payments to be made with the approval of the Fund ' s management. The payments to be made to this account are applied to the credits of the agencies that are subject to the measure.

At the time of the loan, the capital market tools are eligible primarily for the client retention accounts. They're going to be able to keep their owners. For this purpose, the capital market instruments that are stored in the client account are used as of individual accounts and are used in order to meet the obligations of these individual account holders.

Enough or not enough to receive the account. Cash and stock receivatories of the non-stock storage account holders are paid by the Fund with no expectation of the liquidation of 7 billion 500 million liras. However, they are paid by the Fund to not take the sum above the sum of the sum of which they appear to be from the same organization and are acting together. The partners, board and supervisory board members who appear to be subject to the measure, are not to pay for blood and water, including third-degree blood and water, and third-degree blood and water funds, including third-degree employees and members of the board. The amount of payments that will be made to this receipt increases in proportion to the number of redeeming times each year.

The Fund will continue to the institution ' s measure of measure after making advance payments. The liquidation balance is used to pay the full extent of the claim that the rights holders are involved in the purpose of the liquidation. However, if the liquidation balance is not satisfied by the completion of these credits, payments will be made from the garage. After all, the credits are due primarily due to public receivances and expenses and liquidation expenses from the remainder. The balance is allocated to other lenders. If the agency's active funds are not sufficient to cover the payments and liquidation expenses of the rights holders within the scope of the liquidation, The Fund may request an insolvency of the Board of the Board.

It is the provision of the measures that measure the remaining capital markets institutions and provisions that relate to the Protection Fund. is applied. The measures of the measures of the institutions in this framework are determined by the Council to consider the types.

ARTICLE 25.- The capital of the Capital Markets Code is the first case of the first section (A) of the Capital Market Law, which is the lower end of the The additional subspecks, including numbers 5, 6, and 7 have been added, including (A) the last paragraph (B) of the self, to come after (B), and (C) have been added, added to the second storm, as well as the second one.

4. Trade titles, provinces, or other countries, with the first and third feats of the 4th Article, acting without permission in the capital market, or if authorization documents were revoked or whose activities were temporarily halted. with real people who use the word or phrase to create an indent in the capital market in their advertising, or continue to operate, the authorities of the legal entities aresebebiyle5.Yatting due to capital market activity. Or in order to handle or manage the escor, or as collateral, or Regardless of whether they are in the interest of capital markets, whether they are physical or delivered capital markets, cash and other types of money in the interest of itself or to the interest of the president, or whatever the hostage is. The authorities of legal entities with relevant real people, including those who use it to make or hide the purpose or to reach that purpose or to hide these verbals, are the authorities of legal entities,

6. The authorities of the legal entities that have reduced profits and/or assets by making the following in the final provisions of this Law ' s 15th article, and those who are involved in the verbs of these are

7. With the relevant real business to sell capital market instruments with a commitment to return, legal business officials say

is up to 5 years in prison and 10 billion liras in fines of up to 25 billion liras ($210,000). They'll be punished. In the case of the crime, if two or more of the people were written in this self, the prison sentence was the asgarative Hadi 3, the azamoral Hadi 6 year old.

B) 1. They do not provide information to be requested by the Board or the Board of the Council, nor do they have the duty to do so with those who do not provide, store, or destroy, or perform the duties of the Board and the documents that are not intended to be requested. People with disabilities,.2. Notebooks and non-skaters, ledger, and records, which account for the fact that account for the record, or any number of accounting cheats in these,

3. Those who issued an audit report in the case of the fact, and those who have said the editing of this report, are fined

for up to 3 years in prison and 8 billion liras in fines of up to 20 billion liras. In the execution of the crime, if two or more of the people wrote in this self, the prison sentence was 2, the minimum was 4.

C) The second number of articles of this Act, 7, 9, 10, 10/A, 11, 12 nci items, 13 Second, third, third, third, third, third, fourth, and second fikraine, 16, 16 /A, of matter of the 14th Amendment to the third phase of the Article 14, article 25 (b) of the article 25 (b). bendine, Article 34, article 38, article 40 /B, article 45, article 46, article 46, Those who move to second and second, article 46 /A, and item 46 /B are fined

with fines of up to 15 billion liras ($5 billion).

First-rate (A), (B), and (C) will be issued in an alert. It cannot be less than three times the benefit provided by the execution of the crime against the maximum penalties.

MADRID 26. - A Section 47 /A has been added to the Capital Market Law.

Financial penalties

MADDE 47/A. -By specifying the justification for the established regulations, the specified standards and forms, and the actual decisions and legal entities that are determined to move to the general and special decisions of the Board, the Board of the Board of the Board of the Board of the Board of the They are fined up to $2 billion from 2 billion liras.

It is the defence of the attention before the implementation of the monetary penalties. If no defence is issued within one month from the date of the default of the defence, it is assumed that the interest will be waived.

In the event of a repeat of the verbs that require additional monetary penalties, the The fines are double, second and subsequent recurraction increases by three times. Previous penalties are not based on a repeat of the same period that requires administrative fines in two years from the date of the date of these penalties.

Members who fail to comply with the liability of the price of 40 /C of the law, Turkey The Board of Capital Markets is fined up to 5 billion liras ($1 billion) for the Board of Directors of the Union. The Union informs the Fund for Protection of Competencies and revenue record from the other, as it relates to the issue of criminal penalties.

These penalties are related to the Protection Fund within 30 days from the date of the publication of the following date. If not paid, the Fund will be followed by the provisions of the Board of 6183 Amme Creditors, Followed By Law Provisions, and enrolleed in the Fund.

MADRID 27. - Additional Substance is added to the Capital Market Law.

SUPPLEMENTAL ITEM 1. -In the presentation of the audited financial statements, the development and adoption of national accounting principles to ensure that financial statements are needed, real, reliable, balanced, capable, and understandable, and public benefit. The Accounting Standards Board of Turkey, which has public legal and financial and financial autonomy, is established to determine and disseminate national accounting standards to be applied for the sake of the applicable national accounting standards. The board is the Chief Minister.

Turkish Accounting Standards Board; Ministry of Finance, Industry and Commerce, Higher Education Board, Undersecretary of Treasury, Capital Markets Board, Banking Supervision and Regulatory Board of Turkey The Chamber of Chambers and Commodity Exchanges of the Union, Turkey's Free Association of Chartered Accountants and Yemeni Financial Services, a sworn property from the Union of Chambers and a free accountant is a member of the nine members of the Union. Members ' task duration is 3 years. The member of the location of the member whose term expires chooses a new member.

The members of the Turkish Accounting Standards Board have at least four years of undergraduate level in economics, finance, political information, construction, economic and administrative sciences, and so on. They have done so that they have done so at the undergraduate level in an institution of higher education, and have had at least 12 years of experience in the specified branches. The board will choose between its members and the president and the assistant judge. To board members, The amount of peace is paid to the members of the board of directors of the Public Foreign Affairs by the High Planning Board.

The revenues of the board, the Turkish Free Accountants and the Yemeni Financial Services, are paid for by the Board of Directors of the Union. of the two percent, the accounting standards that will be generated are from the copyright, related installations, and other activity revenues. The Council is subject to the provisions of the Law on Public Dignity of 1050 and the Law of Law No. 832, the Law of Public Dignity, 6245 and the Law of 492, with the provisions of the Code of Public Law of $832 and the Law of the Law of 832. The revenue and expenses of the board are subject to the Respect of Respect.

The board may employ personnel from the purpose of its activities, such as whether to employ personnel for the purposes of a regular execution of the activities. The board will also contribute to the compliance of the board representatives related to the preparation of the accounting standards.

The standards and principles of the Turkish Accounting Standards Board are set to be set up by the Board. application qualification and scope are determined in the regulations to be covered by the Council of Ministers.

MADRID 28. - Temporary items are added to the Capital Market Law.

INVALID DATE 6. -After the 10 /A clause of this Law is effective, it is not possible to represent the capital market instruments that are determined to be registered according to the same article. However, in the end of the third year following the 10 /A clause, the rights holders may request the issuance of senet from the issuers. The time, method, and implementation of these requests are set to the Board.

The Board is determined to be registered according to Article 10 /A of the Law and prior to the effective entry of the Law or the first issue of this article. Delivery of capital markets to the end of the year following the effective 10 /A clause to the issuance of the Central Register to hold the registration of the authorized car or capital market instruments. Required. The censuses, which are delivered with this process, are collected, cancelled and destroyed by the Centralized Registry within the framework of the principles to be determined by the Board, and the rights representing the vehicles are recorded in the Central Register based on the provisions of the Law.

In the second frame Capital market instruments not delivered by the end of the specified period cannot be met on the stock market after this date, and may not be retooled by means of purchase of an institution by the institutions and cannot be repurchased. Financial rights to these bonds are monitored at the Central Register and transferred their bonds to their accounts if they are based on the basis of the second fund; the administrative rights are owned by the Centralized Registry.

The durations stipulated in the first and second feats of this Article may be extended to a level with the Council of Ministers ' decision.

NOT SUPERSEDE 7. -Until the capital markets are registered, the payment laws and cancellation decisions made on capital market instruments are also reported by the courts and issuers to the Centralized Registry.

INVALIDATE MADDE 8. -The status of the Union of Capital Markets of Turkey is to be held within a year from the date of entry of this Law. During this time, the Capital Markets Board of Turkey has the obligation to engage the Enterprise to become a member of the Capital Market.

These membership efforts will result in the Board of Directors. The board will convene its members of the Union in the first general assembly within a month following the entry of the Statsu.

INVALIDATE MADDE 9. -$10 trillion worth of Fund accounts by the Istanbul Securities Exchange under the purpose of the deployment of the Yacht Protection Fund.

Agent ' s 1998 stock was the monetary amount of the transaction volumes. It is paid to the Fund account, which is paid by the Law 46 /A when they are obligated to sleep with the Protection Fund under Article 46 /A.

The funds that are required to be made under this article are not available. It is mandatory for the Fund to be held to the Fund within a month following the entry of the Assembly to the Board of the Assembly. If the payments are not made during this time, payment is due at a rate of 46 /A which is projected at the expense of the payment at 46 /A, and is collected by the Fund.

According to the principles stipulate in Article 40 of the Law, Istanbul Securities is available. The amount determined by the revenues of the Stock Exchange as of the date of 31.12.1998, the amount determined by the revenues of the Within a month of the law, the Board will be able to enter the account.

MADRID 29. -vedated 8.3.1950 and 5590 numbered Commerce and Industry Chambers, Chambers of Commerce, Chambers of Commerce, Chambers of Commerce, Trade Borrows and Trade, Industry, Marine Commerce Chambers and Trade Stock Exchange Law 3.4.1997 dated 3.4.1997 and Additional Article 11, which is included with the count of 4233, is incorporated in 11.

Product exhibit 11.

Attachment Article 11. -Industry and Commerce can open or install product residency exchanges to operate at the country, region or country level, where one or more of the products are in view of the business. The installation of Buns provides the vision of the Union to expand and collapse areas.

The business volume and depth of stock, supply and demand are in place when product residency exchanges are opened in an existing stock market and set up as a new stock market. Physical, institutional, financial infrastructure and expert staff proficiency in the physical, institutional and financial infrastructure of the physical, institutional and financial infrastructure is considered to be the point of the fact that the real terms of the real deal are available. And they can also install licensed product stores. The installation and execution of these are shown in the regulations. The exchanges may arrange other items that represent receipt, varant, or property, subject to the stock exchange items that are placed in their warehouses. 2699 is the first of the Third Amendment of the Code of Hope Maj. 3 and the fourth fir (a) does not apply to me.

The turnover of other items representing a receipt, varmint or property, held by the exchanges or other organizations. And I can sell on the stock market. Other items representing property that are in stock of the stock market are also full of precious paperwork. The products and qualifications to be searched by which organizations can be edited, the products and qualifications for purchase and warehouse, and warehouse and warehouse receipts will be used by the Ministry of Industry and Commerce, the company said. is regulated by regulation.

Alivre alum purchases of the stock exchange in the purchases of the Turkish Trade Code may be the turnover specified in the 73rd clause of the Turkish Trade Code. In this way, a turnover of the regulated promises can be made on the exchanges. The regulations to apply to these commitments will be regulated by the Ministry of Industry and Commerce, which will be prepared by the Ministry of Industry and Commerce.

$2499 Capital of the Senet and commitments to be organized under this article. Term action and option commitments are incorporated under the Market Law.

Commodity Exchanges include sufficient infrastructure, technical equipment, and expert staff to perform their written duties in this Code. They will have to build up their service units and service units. The guidelines for implementation of this fund are regulated by a regulation that will be played by the Ministry of Industry and Commerce.

NOT SUPERSEDED 1. - In the current date of this Law, the Board of the Board, President and its members, will complete the 3-year term of duty according to the statutes of their appointment. The current date of this Law has been reported as "The First President".

Board of Directors at the time of the effective date of this Law is the President and the end of the term of office of 2499 members. At the end of the second year, two members will be determined as a result of the course, and at the end of the fourth year, 2499 Capital Markets were replaced by the two members to be determined as a result of the courier from the remaining members. Appoint a new member in accordance with the provisions set forth in the Law. 2499 will be shown by the Banking Regulation and Supervision Agency until the decision bodies of the Banking Regulation and Supervision Agency and the Capital Markets of Turkey are set to be established. The candidates to be screened by the Turkish Capital Markets Association, are shown by the Turkish Capital Markets Union.

INVALIDATE MADDE 2. - Before the entry of this Code, the Board of all authority documents, which will be cancelled by the Board, will consider the funds available from the capital market activities under the merits of the Fund, under the terms of this material. A special Fund is set up to be paid for by the company. In order for the Fund to be able to pay the agency, it is mandatory to file a bankruptcy case before or after the effective entry of this Law, and to ensure that it is free of charge for bankruptcy liquidate.

The amount of cash and securities that will receive cash and securities that are regulated without a debt payment in the Bankruptcy liquidate is the current TC Central Bank exchange rate at the date of cancellation of the agency's authorization documents. It's turned into a dollar. Payments made during the bankruptcy liquidation after the bankruptcy of these vehicles were made, the current T.C. Central Bank exchange rate, due to an exchange rate of American Dollars, will be destroyed in the dollar and some of the money will be destroyed. The balance in this surcharge is translated into the Turkish Liras through the current T.C. Central Bank exchange rate on the date of the month of the loan without paying the loan.

It will be paid to the rights holders according to the principles of the third fund.

Up to 31.12.2000. The payment will be paid to the owner, and 2 billion Turkish liras will not be able to take place. This amount is increased in the rate of redeeming multiplicity every year after 1.1.2001. However, under the second phase, the amount of intermediate payments that have been destroyed in the dollar will be translated into Turkish Liras via the TC Central Bank exchange rate, as of the date of the receipt of the loan without paying the debt. by downloading the maximum payment amount specified, the maximum amount to be made to the rights holders is determined.

Within the two months following the entry of this Law, 10 trillion Turkish Liras will be allocated by this Fona Istanbul Stock Exchange. The Fund is neatly used by the Stock Exchange, in public banks, deposit accounts, or public debt bonds. The Fund may not use it for any purpose to be done when this item is required. If the fund is not satisfied to meet the payments to be made, the additional resources to be determined by the decision of the Council of Ministers, not to exceed 5 trillion Turkish Liras, will be met by the Istanbul Stock Exchange. After the completion of the payments under this clause is determined by the written statements of the related bankruptcy administraments, the remaining part belongs to the Istanbul Securities Exchange.

Payments to be made from the Fund will be provided by the applicable bankruptcy administrations. Based on the compliance of the Capital Markets Board, based on the compliance documentation of the Capital Markets Board, the Bank’ s bankruptcy administration is made available to the bankruptcy administration. The Capital Markets Board, based on documents that the payments may be made available in accordance with the provisions of this clause, are committed to the documents in the bankruptcy file, bankruptcy administration and bankruptcy office, and so on. It is the right to refuse the demands of payment to the provisions of the relevant legislation.

The payment of the rights to the rights holders is made real when the bankruptcy administration is made. The partners, board of directors and supervisory board members, personnel and third-degree persons, and third-degree blood and financial services and capital markets institutions are not paid by the credulant agency, its personnel who appear to be creditors. The Istanbul Securities Exchange, for its payments, will be entitled to the rights of the owners of the issuer without paying the debt. The credits are withheld from the general provisions for the payoffs of this article.

The Council of Ministers is authorized to determine the basis and procedures related to the implementation of this Article and to make the necessary arrangements.

INVALIDATE MADDE 3. - In accordance with the article 28 of the Capital Markets Act of 2499, including Article 13 of the Code, the Board of Directors and its members, including any payments that will be rescheduled for their personnel, will be rescheduled for the month If the sum of the total is less than the sum of the monthly charges they received in the month prior to the effective date of this Act, the difference in the period until this is resolved is compensation for any tax and non-interruption. .Effective

MADE 30. - Following the date of the establishment of the Centralized Registry, effective from the date of release,

-23 and 24, effective from the date of release, and the installation of the Centralized Registry, effective from the dateyayýmý-1, of the date of this publication. tarihteIn the date of 1.1.2005,tarihinde-Yürütme,maddesiYürütmeExecutionon the release of Digits.

Executionon the date of the current release of the arrangement of the Preservation Fund.-On the date of 1.1.2005,

-the date of the Diaper item enters the following.


MADDE 31. - The Council of Ministers executes the provisions of this Law.