Restrictions on bearer shares to counter financing of terrorism
Introduction The Turkish Grand National Assembly has promulgated the Act on the Prevention of the Financing of Propagation of Weapons of Mass Destruction (7262), published in the Official Gazette (31351) on 31 December 2020, which foresees material amendments to the Commercial Code's provisions regarding bearer share certificates. Although these amendments may seem misplaced, they are the result of long deliberation and deep international cooperation. The act aims to implement the United Nations Security Council's measures on this matter. Key points The amendments include the following. The ...
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