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22October2021

Amendment to the Regulation on Associations

Amendment to the Regulation on Associations

Regulation Amending the Regulation on Associations ("Regulation") is published in the Official Gazette numbered 31635 and dated 21.10.2021.

With the Regulation, it is possible to hold the general assembly and board of directors’ meetings of associations electronically, and some critical changes are made about risk analysis and auditing of associations.

What Will Change with These Amendments?

  • General assembly and board of directors meetings of associations can be held electronically. The meetings will be held through electronic systems approved by the General Directorate of Information Technologies of the Ministry of Interior. The personal data to be processed in the systems shall be processed and stored according to the relevant provision of the Turkish Data Protection Law.
  • The notification period for the general assemblies of the associations and branches and changes in associations has been extended to 45 days.
  • Amendment has been made in the procedure of aids to be made abroad by associations.
  • The monetary limit, which is an annual gross income of more than 500,000.00 TRY, has been increased to 1,500.000.00 TRY for associations obliged to keep books on a balance sheet basis.
  • On behalf of the association, using the words such as martyr and veteran can be used with the permission of the Ministry of Interior.
  • The procedure for applying to an expert witness is regulated in the audits of the association.
  • It is regulated that the audits of the association will be carried out according to the risk analysis. In this regard, risk analysis will be made within the scope of combating laundering of assets arising from crime against associations and financing of terrorism, and also, the principles of this risk analysis have been regulated.

Should you have any queries or need further details, please contact your customer representative.

Written by Selin Malkoç, Posted in Turkish Commercial Code

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    Please consult your client representative if you are a customer of CottGroup® or consult a relevant party or an expert prior to taking any action in regards to the above content.

About The Author

Selin Malkoç

Legal Consultant - Attorney
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