Cheque Submission Periods were Postponed
Important amendments are made through the Law No. 7318 on the Amendment to the Tax Procedural Law and Certain Laws (the “Law”) published in the Official Gazette dated 30 April 2021 and numbered 31470. Within the context of the aforementioned amendments, the Provisional Article 3 is added under the Law No. 7226 on the Amendment to Certain Laws dated 25 March 2020 in order to prevent any loss of judiciary rights as a result of the restrictions due to the Covid-19 outbreak.
Pursuant to the Provisional Article 3,
Creditors will not be able to submit cheques starting from 30 April 2021 until 31 May 2021 (including these dates) even if their date of submission falls within that period. The periods will resume starting from 1 June 2021.
Regarding negotiable instruments which will become mature between 30 April 2021 and 31 May 2021 (including these dates), the execution or bankruptcy proceedings cannot be initiated or provisional attachments could not be requested and the pending proceedings will be halt.
Public administrations will not be able to initiate enforcement and bankruptcy proceedings between 30 April 2021 and 31 May 2021(including these dates) based on the receivables arising from public law or private law within the scope of Public Finance Management and Control Law dated 10 December 2003 and numbered 5108.
In addition, the procedures and principles regarding the implementation of subparagraph (a) of the Provisional Article 3/1 were clarified with the communiqué published in the Official Gazette dated 30 April 2021 and numbered 31470 (bis) (“Communiqué”). Upon the submission of cheques whose last day of submission period falls between 30 April 2021 and 31 May 2021;
In case the cheque account holder has the adequate sum in the account the cheque amount shall be paid,
In case there is not adequate sum in the account, dishonored cheque transactions will not be initiated pursuant to the Law on Cheques numbered 5941 before 1 June 2021. Relevant transactions may be carried out as of 1 June 2021.
Please find the Turkish version of the relevant Law here,
and Turkish version of the relevant Communiqué here.
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Other Contents
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