Newsletter-21

70 NEWSLETTER 2016 Right to Request Information and Examination of the Members of the Board of Directors* Prof. Dr. H. Ercument Erdem Introduction One of the rights of the members of the board of directors in joint stock companies is to request information and examination. The ex- amination of the company’s important information and documentation is indispensable for the fulfillment of the duties and responsibilities of the members of the board of directors. When the fact that not being aware of a certain company issue does not exclude a member of the board of directors from liability is considered, the importance of the right to request information and examination becomes prominent. The scope of the right to request information under Turkish Commercial Code numbered 6102 (“TCC”) is broader when compared to the abol- ished Turkish Commercial Code numbered 6762 (“aTCC”). As per Art. 392 of the TCC, the right to request information and examination of the members of the board of directors are regulated as during the meeting and outside the meeting. This provision also sets forth the procedure for the right to request information and examination, as well as legal remedies. In General Pursuant to aTCC Art. 331, the members of the board of direc- tors had the right to request information from the representatives and managers appointed to represent the company and perform company works of the state of business and certain specific works and transac- tions. However, the examination of company books and documents was subject to the approval of the chairman of the board of directors. * Article of June 2016