Newsletter-21

88 NEWSLETTER 2016 Latest Amendments to the Turkish Commercial Code and the Law on Cheques* Prof. Dr. H. Ercument Erdem Introduction Comprehensive amendments were made to several laws includ- ing Turkish Commercial Code numbered 6102 1 (“TCC”), Law on Cheques numbered 5941 2 (“Law on Cheques”) and various tax laws under Law numbered 6728 on the Amendment of Several Laws for the Improvement of Investment Environment, published in the Official Gazette dated 9August 2016 and numbered 29796 3 (“Law No. 6728”). According to the general preamble 4 of Law No. 6728, the purpose of the amendments to the TCC is to facilitate the incorporation and liqui- dation procedures of companies, and to contribute to the development of the economy through encouraging local and foreign real persons and legal entities to do business in Turkey. On the other hand, the amendments made to the Law on Cheques aim to increase the trust in cheques, which constitute a significant payment method in business life, and to prevent dishonored cheques. * Article of August 2016 1 The TCC (Official Gazette, 14.02.2011, No. 27846) entered into force on 01.07.2012. 2 The Law on Cheques (Official Gazette, 20.12.2009, No. 27438) entered into force on the date of its publication. 3 The full text of Law No. 6728 in the Turkish language may be accessed through the following link: http://www.resmigazete.gov.tr/main.aspx?home=http: //www. resmigazete.gov.tr/eskiler/2016/08/20160809.htm &main =http://www.resmi- gazete.gov.tr/eskiler/2016/08/20160809.htm (access date: 18.08.2016). 4 General Preamble of Law No. 6728.