According to the Turkish Commercial Code No. 6102 company acquisition of own shares

In the issue of the joint stock and limited liability companies? acquisition their own shares, Turkish Commercial Code No. 6102 removed the prohibitive system in Turkish Commercial Code No. 6762 and it allowed the joint stock and limited liability companies to acquire their own shares provided that they obey the conditions and restrictions indicated in the law. Besides, in the regulations with the joint stock companies, the law accepted some exceptions cases related to the joint stock company?s restrictions and conditions on the acquisition of its own shares, in terms of the cases that the acquisition of the shares is a compulsory in some way. Turkish Commercial Code No. 6102 accepted this system by being inspired from the rules in the European Economic Community?s Companies of Second Directives, dated December 13, 1976 and numbered 77/91. That the joint stock company acquires its own shares is regulated with the 379th to 389th articles of the law. And that the limited liability company acquires its own shares is dealt in the 612th article of the law. In this study, the conditions, exceptions, and results of a joint stock and limited companys? acquisition their own shares are discussed. While studying these issues, the referenced laws are mentioned when it is needed. The causes of a company?s acquisition its own shares and the benefits of this, the disadvantages that can occur in case a company acquire its own shares, and in what ways a company can acquire its own shares are also discussed. Before all these, short information is given about the shares and share certificates in terms of joint stock and limited liability companies, regarding to the scope of the subject, with the thought that it will be useful in terms of the study?s subject.