Recent Keynotes June 2016
International Agreements
- The Resolution of Council of Ministers dated 09.05.2016 and numbered 2016/8840 on the Approval of Additional Protocol to the Convention for the Protection of Individuals with regard to Automatic Processing of Personal Data regarding Supervisory Authorities and Transborder Dataflow was published in the Official Gazette dated 24.05.2016 and numbered 29721.
Legislation
- The Communiqué on the Amendment to the General Implementation Communiqué on the Value Added Tax (Serial No: 6) was published in the Official Gazette dated 21.05.2016 and numbered 29718.
- The Regulation on the Determination of the Preferential Origin of the Goods in Trade within the scope of Preferential Trade Agreement between D-8 Countries, valid as of 01.07.2016, was published in the Official Gazette dated 24.05.2016 and numbered 29721.
- The Regulation on the Amendment to the Regulation on Financial Reporting by Insurance Reinsurance and Pension Companies, valid as of 01.01.2016, was published in the Official Gazette dated 29.05.2016 and numbered 29726.
- The Regulation on the Amendment to the Regulation on the Social Security Processes was published in the Official Gazette dated 29.05.2016 and numbered 29726. Various provisions of the Regulation enters into force on different dates.
- The Communiqué on the Amendment to the Communiqué (No: 2008/1) on the Presentation of the Financial Statements, valid as of 01.01.2016, was published in the Official Gazette dated 29.05.2016 and numbered 29726
- The Regulation on the Amendment to the Regulation on the Principles of Establishment and Operation of the Financial Leasing, Factoring and Financing Companies entered into force through publication in the Official Gazette dated 02.06.2016 and numbered 29730.
- The Regulation on the Authorized Legal Entities entered into force through publication in the Official Gazette dated 03.06.2016 and numbered 29731.
- The General Communiqué on Customs (Tariff) (Serial No: 14), valid as of 01.06.2016, was published in the Official Gazette dated 03.06.2016 and numbered 29731.
- The Communiqué on the Capacity Increase and/or Extension in the Projects with “EIA Positive” or “EIA not Required” Decisions entered into force through publication in the Official Gazette dated 08.06.2016 and numbered 29736.
- The Regulation on the Amendment to the Regulation on the Authorizations Electronic Communication Sector entered into force through publication in the Official Gazette dated 11.06.2016 and numbered 29739.
- The Law on the Amendment to the Law on the Electricity Market and Other Laws entered into force through publication in the Official Gazette dated 17.06.2016 and numbered 29745.
- The General Communiqué on Customs (Generalized Preference System) (Serial No: 2), valid as of 01.06.2016, was published in the Official Gazette dated 18.06.2016 and numbered 29746.
Competition Board Decisions
- The Competition Board (“Board”) decided that negative clearance shall not be granted with respect to the Distribution Agreement between the Nükleer Ürünler Medikal San. ve Tic. A.Ş. ve Up Nükleer Medikal Danışmanlık İnşaat Turizm Eğitim Sağlık Tic. İthalat İhracat Ltd. Şti. and Iba Molecular Turkey İlaç San. ve Tic. Ltd. Şti.; however, the relevant Agreement benefits from a block exemption within the scope of Communiqué No. 2013/3 on the Block Exemption Regarding the Specialization Agreements. (01.06.2016, 16-19/318-145)
- The Board granted negative clearance to the activities of obtaining the offered discount rates of the suppliers regarding the two energy items, which are electricity and natural gas, by the Eskişehir Bilecik Kütahya Seramic Activity Area Association, and reporting the relevant offers to the EBK members. (01.06.2016, 16-19/318-145)
Mergers and Acquisitions
- The Board authorized the merger of Polynt Group S.A. and Reichhold Cayman GP under the joint control of Investindustrial Advisors Limited and Black Diamond Capital Management L.L.C. (01.06.2016, 16-19/306-135)
- The Board authorized the acquisition of all of the shares of Ineos Styrenics European Holding B.V., which is a subsidiary of Ineos Industries Holdings Limited, by Synthos S.A. (01.06.2016, 16-19/307-136)
- The Board authorized the acquisition of control of Toshiba Medical System Corporation by Canon Inc. (01.06.2016, 16-19/309-138)
- The Board authorized the establishment of a joint venture by The Dow Chemical Company and E.I. du Pont de Nemours and Company (01.06.2016, 16-19/310-139)
- The Board authorized the acquisition of control of SABMiller plc by Anheuser-Busch InBev (01.06.2016, 16-19/311-140)
- The Board authorized the establishment of a joint venture by SIA Engineering Company Limited and Airbus Services Asia Pacific Pte. Ltd. (01.06.2016, 16-19/314-143)
- The Board authorized the acquisition of all of the shares of Mars Entertainment Group A.Ş. by an affiliate of CJ CGV Co. Ltd., the CJ group of companies and financial investors. (01.06.2016, 16-19/317-144)
- The Board authorized the establishment of the joint control on Vertafore Inc. by Bain Capital Group and Vista Group (09.06.2016, 16-20/329-148)
- The Board authorized the establishment of a joint venture through the establishment of joint control of Duck Creek by Apax Partners Group and Accenture Group (09.06.2016, 16-20/330-149)
- The Board authorized the establishment of the joint control on Planet TV ve Uydu Platform İşletmeciliği A.Ş. and its affiliates by Nafia Sevin Ergün Sefada and PLNT01 Medya ve İletişim Hizmetleri A.Ş. (09.06.2016, 16-20/331-150)
- The Board authorized the acquisition of control of Meda AB by Mylan N.V. (09.06.2016, 16-20/336-152)
- The Board authorized the acquisition of sole control of Azmüsebat Çelik Sanayi ve Ticaret A.Ş. controlled by the CANSU family and Yıldız Holding A.Ş., by Yıldız Holding A.Ş. (09.06.2016, 16-20/337-153)
- The Board authorized the acquisition of all of the shares of Starcity Outlet Alışveriş Merkezi controlled by Merkür İnşaat Ticaret A.Ş. and BYN Gayrimenkul Geliştirme A.Ş., by Gençoğlu AVM Yatırımları A.Ş. (09.06.2016, 16-20/338-154)
- The Board authorized the acquisition of a certain amount of shares of Envy Enerji ve Çevre Yatırımları A.Ş. by Assystem S.A. (09.06.2016, 16-20/349-157)
- The Board decided that the establishment of a joint venture to export and sell raw Brazilian sugar cane in the international sugar market, by Raizen Energia S.A., jointly controlled by Cosan lC and e Shell Brazil, and Wilmar Sugar Pte. Ltd., which is an indirect affiliate of Wilmar International Limited, is not subject to authorization. (09.06.2016, 16-20/335-BD)
Privatizations
- The Board authorized the privatization of the immovables used by the Adıgüzel and Kemer Hydroelectric Power Plants of Elektrik Üretim A.Ş. by way of “granting operation rights.” (09.06.2016, 16-20/350-158)
Energy
- The Regulation on the Acceleration of the Sale-Purchase and Tender Procedures of Electricity Distribution Market entered into force through publication in the Official Gazette dated 25.05.2016 and numbered 29722.
- The Regulation on the Amendment to the Regulation on the Distribution and Customer Services in the Natural Gas Market entered into force through publication in the Official Gazette dated 27.05.2016 and numbered 29724.
- The Energy Market Regulatory Authority (“EMRA”) published the Petroleum Report of March, 2016, on 31.05.2016.
- The Regulation on the Amendment to the Regulation on Electricity Market Balancing and Reconciliation was published in the Official Gazette dated 28.05.2016 and numbered 29725. The Regulation entered into force on 01.06.2016.
- The Board Decision dated 13.05.2016 and numbered 6282-3 on Principles and Procedures Regarding Securities was published in the Official Gazette dated 28.05.2016 and numbered 29725.
- The Board Decision dated 13.05.2016 and numbered 6282-4 on the Principles and Procedures Regarding the Transparency in Organized Wholesale Electric Markets was published in the Official Gazette dated 28.05.2016 and numbered 29725.
- The announcement on the progress reports to be submitted in the July, 2016 period was published by the EMRA on 09.06.2016.
- The EMRA published the Petroleum and LPG Market Pricing Reports of May, 2016, on 15.06.2016.
- The EMRA published Electricity Market Sector Report of April, 2016, on 20.06.2016.
- The EMRA published Natural Gas Market Sector Report of April, 2016, on 20.06.2016.
All rights of this article are reserved. This article may not be used, reproduced, copied, published, distributed, or otherwise disseminated without quotation or Erdem & Erdem Law Firm's written consent. Any content created without citing the resource or Erdem & Erdem Law Firm’s written consent is regularly tracked, and legal action will be taken in case of violation.
Other Contents
The Grand General Assembly of the Unification of Jurisprudence ("GGAUJ") ruled with the Decision of the Grand General Assembly of the Unification of Jurisprudence dated 28.04.2023 numbered 2021/5 E. 2023/2 K. ("Decision") that if the legal remedy period is erroneously indicated longer in the decision in...
The concept of estate, which can be considered as the foundation of our inheritance law, refers to all the property, rights, and debts belonging to an individual after their death. Throughout history, humans have been buried with their cherished belongings based on religious beliefs, but over time, it has been observed...
The Resolution of the President dated 21.07.2023 and numbered 7393 on the Approval of the Memorandum of Understanding between the Government of the Republic of Türkiye and the Government of the People’s Democratic Republic of Algeria on Cooperation in the Field of Mining was published in the Official...
The Grant Agreement signed on 06.04.2023 between the Ministry of Treasury and Finance of Republic of Türkiye, Development and Investment Bank of Turkey (TKYB) and German Development Bank (KfW) was published in the Official Gazette dated 04.07.2023 and numbered 32238...
Inheritance contracts are contracts involving a testamentary disposition concluded by the legator, with her inheritor or a third party. A testamentary disposition is a legal transaction that includes the orders of the legator that she wishes to be carried out after her death. Testamentary disposition term is used in two...
The Resolution of the President dated 06.06.2023 and numbered 7302 on the Ratification of the Economic and Financial Cooperation Agreement between the Republic of Türkiye and the Turkish Republic of Northern Cyprus for 2023 was published in the Official Gazette dated 07.06.2023 and numbered 32214...
This study examines the decision ("Decision") of the Turkish Constitutional Court ("CC") dated 22.02.2023, published in the Official Gazette on April 28, 2023, which abolished the first sentence of Article 187 of the Turkish Civil Code numbered 4721 ("TCC"), which obliges a woman to take her husband's surname upon...
The Resolution on the Approval of the Annexed Amendment Letter Regarding the Separate Agreement on the Financing Agreement between the Ministry of National Education of the Republic of Turkey and the German Development Bank (KfW) on the Clean Energy and Energy Efficiency Measures Project...
The Resolution of the President dated 01.04.2023 and numbered 7025 on the Approval of the Protocol on the Accession of the Republic of Finland to the North Atlantic Treaty was published in the Official Gazette dated 02.04.2023 and numbered 32151...
The Resolution of the President dated 08.03.2023 and numbered 6913 on the Ratification of the Agreement between the Republic of Turkey and the European Union on the Participation of the Republic of Turkey in the Union Program on Cooperation in the Customs Area, ‘Customs’, effective from 1 January 2021...
The Resolution of the President dated 25.01.2023 and numbered 6728 on the Application of the Exemption in the Fourth Paragraph of the Provisional Article 14 of the Corporate Tax Law No. 5520 to the Foreign Currencies in the Balance Sheets of the Corporations as of 31.12.2022 was published in the Official...
The Resolution on the Approval of the Protocol between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus on the Deployment of Energy Transmission Lines of Geçitkale Airport (Resolution No: 6647) entered into force through publication in the...
The Resolution of the President dated 23.11.2022 and numbered 6416 on the Approval of the Economic and Financial Cooperation Agreement - Additional Agreement - signed between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus on...
The Resolution of the President dated 19.10.2022 and numbered 6238 on the Approval of the Memorandum of Understanding Between the Government of the Republic of Turkiye and the Government of the Federal Republic of Nigeria on Cooperation in the Field of Energy was published in the Official Gazette...
The Resolution of the President dated 26.09.2022 and numbered 6090 on the Approval of the Annexed Amendment Protocol signed by the Exchange of Letters dated 12.08.2022 and 31.08.2022 between the Government of the Republic of Turkey and the European Commission on the Amendment to...
The Resolution of the President dated 15.09.2022 and numbered 6080 on the Approval of the Memorandum of Understanding About Implementation of the Multilateral Tax Program Between the Government of the Republic of Turkey and the Organization for Economic Cooperation and Development at...
Since social media has turned into a modern mass communication tool, the concepts of advertising and marketing have been brought to a new dimension. Influencers, who promote various products and services by "influencing" their audience through social media, are driving the next generation of...
The Resolution of the President dated 20.07.2022 and numbered 5801 on the Determination of the Default Interest Rate under the First Paragraph of Article 51 of the Law numbered 6183 on the Collection Procedure of Public Receivables as 2.5% to be Applied Separately for Each Month, was published...
Decision dated 27.06.2022 and numbered 5751 on the Ratification of the Fund Grant Agreement signed between Republic of Turkey Ministry of Labor and Social Security and International Bank for Reconstruction and Development, on 05.05.2022...
The Resolution of the President dated 23.05.2022 and numbered 5596 on the Ratification of the Economic and Financial Cooperation Agreement between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus was published in the Official Gazette dated...
The Resolution of the President dated 23.04.2022 and numbered 5520 on the Approval of the Agreement between the Government of the Republic of Turkey and the Government of the Republic of Cote D’Ivoire Concerning the Reciprocal Promotion and Protection of Investments...
In a decision dated 29.09.2021 with application number 2018/357 (“Decision”), the Constitutional Court decided by a large majority that the applicant's right to property was violated due to the fact that the immovables expropriated for the purpose of mass housing construction...
Pursuant to Art. 101 of the Turkish Civil Code (“CC”) No. 4721, foundations are an ensemble of assets that have legal personality, which comprises of sufficient assets and rights that are allocated by real and legal persons for a determined and perpetual objective. Foundations are legal persons that have “ideal...