Newsletter-21

95 COMMERCIAL LAW persons, in the event the representative of a legal entity changed, or his/her term expired on the date of presentation of post-dated cheques 12 . • Criminal Liability: As per the amendments made to Article 5 of the Law on Cheques, those who cause a cheque to be dishonored, upon the bearer’s complaint, shall be subject to a judicial fine up to one thousand and five hundred days for each dishonored cheque. Such monetary fine cannot be less than the total of the dishonored amount of the cheque, the accrued interest and litigation expenses. The court shall also rule to prohibit the drawing of cheques and opening chequ- ing accounts, both through its judgment, and as a protection measure during the proceedings. Provisions regarding the prepayment, settlement or stay of judgment shall not apply. In the event of failure to pay the judicial fine, such fine shall be directly converted into imprisonment with no provision for community service. The person responsible for the consideration of the cheque in the relevant bank account is the chequing account holder. In the event the chequing account holder is a legal entity, member of the manage- ment body responsible for the financial affairs of such legal entity, and if such a work allocation was not made, real person/s constituting the management body shall be responsible therefor. Those who are prohibited from drawing cheques and opening chequing accounts can- not serve in the management bodies of capital companies during the term of their prohibition. However, their existing memberships shall continue until the end of their term of office. As per Article 6, if the amount of the dishonored cheque and the accrued interest are paid, the lawsuit shall be dropped during the proceedings, or the judgment shall be removed with all of its conse- quences after the finalization of the imprisonment judgment. The same shall apply in the event of withdrawal of the complaint. Following the expiry of three years as of the complete execution of the punishment, or, following the expiry of ten years as of the prohibition date under 12 Preamble of Article 62 Law No. 6728.