Newsletter-21

74 NEWSLETTER 2016 of the board of directors. Such equality shall not be eliminated through creating privileges. This provision is important since it indicates that the chairman is not superior to the other members ( “primus enter pares” ). The provisions of the articles of association granting more rights to request information to some of the members than others shall be invalid. The chairman of the board of directors shall not act arbitrarily and reject the request without evaluation, and shall also not be biased nor in violation of the principle of equal treatment. However, the authority of the chairman of the board of directors to grant such approval shall not be restricted, abolished, transferred or made subject to other ap- proval. Rejection of the Request for Information or Examination Provided that the chairman of the board of directors rejects the request for information or examination by a member outside the meet- ing, as per Art 392(4), the issue shall be brought to the attention of the board of directors at a meeting to be held within two days. Such meeting may be held physically or electronically, or a resolution shall be taken through circulation. The member whose request was rejected may attend and vote at this meeting. Pursuant to Art. 390(1), the reso- lution is taken by the affirmative vote of the majority of the attending members. The chairman of the board of directors shall be bound by the decision of the board. However, if the exercise of the right to request information is contrary to the company’s interest, the chairman may apply to the court as per Art. 392(4) 4 . Provided that the board of directors does not convene within two days, or the request is rejected, as per Art. 392(4), the requesting mem- ber shall apply to the commercial court of first instance of the place where the company’s headquarters is located and demand a review of the request. Pursuant to Art. 392(1), the same provision applies provided that the submission of the information or documentation is rejected, or the questions are left unanswered during the meeting. The court may give its decision by examining the file, and such decision is final. If the board of directors rejects a request of information and 4 Tekinalp , p. 273 par. 12-102.