What Are the Purposes and Scopes of Certificate Printing?
Although the Turkish Commercial Code currently accepts the issuance of share certificates immediately after the incorporation of companies, it has not introduced definitive provisions regarding the obligation and timeline. In these stages, due to the lack of legal obligations for joint-stock companies in our country and the insufficient institutionalization of joint-stock companies, these companies generally do not print share certificates. There is also no legal procedure for the printing of share certificates. For joint-stock companies that are not public and do not possess the qualifications of publicly traded companies, the obligation to issue share certificates is handled differently based on the decisions of the shareholders. Furthermore, if all shareholders wish, joint-stock companies are obliged to issue certificates. However, while the Turkish Commercial Code does not have a provision making the issuance of share certificates mandatory, under the Capital Markets Law and relevant regulations, the issuance of share certificates becomes mandatory for joint-stock companies that are publicly traded or intend to become publicly traded.
How Are the Printing Processes Carried Out?
According to the decisions and communiques published in the Official Gazette, the primary purpose of these systems is to regulate the fundamental rules to be followed in all printing processes and to stipulate certain special provisions regarding share certificates for all partners involved in share certificate printing. Accordingly, companies whose shares are traded on the stock exchange are required to use security paper for printing their share certificates, which must include at least a few of certain features, one of which must be visually discernible. Security papers are produced with watermarks, in different color tones that are visually apparent from the paper background, and in desired different patterns. All institutions and organizations that will carry out the printing are obliged to perform their own processes, such as design drawing, film preparation, typesetting, plate making, printing, and numbering, within their own structures in the field of share certificate printing. Additionally, it is mandatory to draw unique swirling patterns for each company to form the background of the share certificates and to print them with as many distinguishing features as possible using different colors.
