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Corporate & Commercial

22 February 2021
Kaan Demir Restrictions on bearer shares to counter financing of terrorism

Turkey - Kayum & Demir

The Turkish Grand National Assembly has promulgated the Act on the Prevention of the Financing of Propagation of Weapons of Mass Destruction, which foresees material amendments to the Commercial Code's provisions regarding bearer share certificates. Although these amendments cause transactional friction and restrict shareowners from engaging in unannounced share transfers, money laundering and the financing of terrorism pose a greater threat than these inconveniences.

Author: Kaan Demir
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