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transfers of the companies subject to privatization is extended
until the end of the year 2017.
- 50% discount in the system utilization fees and the exemptions
from stamp tax and duties during the investment periods of the
generation facilities are extended until the end of the year 2015.
Conclusion
In light of the above explanations, it is understood that the Draft
Law is structured based on the market activities. To that end, it is pos-
sible to say it is neatly drafted when compared with the EML. On the
other hand, although it is specified to the electricity market, there also
are some provisions regarding natural gas and petroleum markets.
Technically, it would be more appropriate to regulate those issues
under their specific laws and regulations.
We believe that the conversion of the EMRA approval require-
ments to notification requirement in case of share transfers and change
of control is a positive development. However, with regard to the pre-
liminary licenses that are set forth to be granted before the grant of
generation licenses, the provision which regulates nullity in case of
share transfers shall be mitigated.
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NEWSLETTER 2012