Ministerial Decision No. 30/2000 On the Determination of Joint Stock Companies' Share Premium
The Minister of Economy and Commerce,
After perusal of
Federal Law No. 1/1972 on Competencies of the Ministries and Powers of the Ministers and its amendments; and
Federal Law No. 8/1984 on the Commercial Companies and its amendments; and
Ministerial Decision No. 73/1989 on the procedures for the establishment of the Joint Stock Companies and Equities Partnership Companies amended by Ministerial Decision No. 2/1997; and
Based upon the proposal of the acting undersecretary of the Minister,
Has issued the following Decision:
Article 1
The decision of a Joint Stock Company's Extraordinary General Assembly on the increase of the capital may include the addition of an issue premium to the nominal value of the share.
The amount of this premium shall be added to the company's legal reserve even if it thereby exceeds half the capital.
Article 2
Shares may be issued at a premium to raise share capital if:
1- Two fiscal years at least have elapsed as of the date of the incorporation of the company or the last capital increase.