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Share Transfers under Electricity Market Legislation
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Att. Tuna Colgar
Introduction
Electricity Market Law numbered 6446 (“EML” or “Law”)
entered into force through publication in the Official Gazette dated
March 30, 2013 and numbered 28603. Share transfers of companies
that operate in the energy market became one of the newly regulated
issues with the publication of the Electricity Market Licensing
Regulation (“Regulation”) in the Official Gazette dated November 2,
2013 and numbered 28809, upon the enactment of the EML.
This article will focus on the new regulations regarding share
transfers introduced by the new Electricity Market Law and the new
Electricity Market Licensing Regulation.
In accordance with the current legislation in force, prior to the
commencement of their market activities, all legal entities to be
engaged in market activities must obtain the relevant license for each
activity, and for each facility, if the market activity in question is to be
performed in more than one facility, excluding the exceptions stipulat-
ed by the Law and the Regulation. Furthermore, pursuant to Art. 6 of
the EML, a preliminary license is required for generation activities. In
accordance with Art. 5(2) of the Regulation, all legal entities to be
engaged in generation activities must obtain a preliminary license for
each facility if the generation activity is performed in more than one
facility.
Generation activities that are exempt from the obligation to obtain
preliminary licenses and licenses, and to establish a company, are list-
ed in the Communiqué on the Implementation of the Regulation.
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Article of May 2015