Recent Keynotes of June 2018
International Agreements
- Resolution of the Council of Ministers dated 26.03.2018 and numbered 2018/11590 on the Ratification of the Agreement on International Combined Freight Shipment between the Government of the Republic of Turkey and the Ukrainian Council of Ministers was published in the Official Gazette dated 29.05.2018 and numbered 30435.
- Resolution of the Council of Ministers dated 09.04.2018 and numbered 2018/11632 on the Ratification of the Annex 2 of the Financing Agreement between the Government of the Republic of Turkey and the European Commission Regarding 2012 Turkey National Program in the Framework of Instrument for Pre-Accession Assistance (IPA) – Transition Period Assistance and Institutional Structuring Component together with the Attached Memoranda was published in the Official Gazette dated 05.06.2018 and numbered 30442 (bis).
- Resolution of the Council of Ministers dated 09.04.2018 and numbered 2018/11630 on the Ratification of the Agreement on Mutual Aid Regarding the Area of Customs between the Government of the Republic of Turkey and Government of Montenegro was published in the Official Gazette dated 05.06.2018 and numbered 30442 (bis).
- Resolution of the Council of Ministers dated 09.04.2018 and numbered 2018/11621 on the Ratification of the Agreement on the Service Commerce Agreement together with the Annexed Notes under the Framework Agreement that Assigns a Free Commerce Area between the Government of the Republic of Turkey and the Korean Republic was published in the Official Gazette dated 05.06.2018 and numbered 30442 (bis).
- Resolution of the Council of Ministers dated 09.04.2018 and numbered 2018/11619 on the Ratification of the Agreement on Cooperation in the Field of Agriculture between the Government of the Republic of Turkey and the Government of the Republic of Montenegro was published in the Official Gazette dated 07.06.2018 and numbered 30444.
- Resolution of the Council of Ministers dated 09.04.2018 and numbered 2018/11660 on the Ratification of the Memorandum of Understanding of Turkey-Vietnam Seventh Period Mixed Economic and Commercial Committee was published in the Official Gazette dated 07.06.2018 and numbered 30444.
Council of Ministers Resolutions
- Resolution of the Council of Ministers on Identification of Corporations that are subject to Independent Audit dated 30.04.2018 and numbered 2018/11597 was published in the Official Gazette dated 26.05.2018 and numbered 30432.
- Resolution of the Council of Ministers dated 30.04.2018 and numbered 2018/11837 on the Amendment of the Price and the Period to be Applied for Renewable Energy Resources-Based Production Facilities and the Resolution on the Local Contribution Addition was published in the Official Gazette dated 21.06.2018 and numbered 30455.
Legislation
- General Customs Communiqué (Customs Operations, Serial No: 148) was published in the Official Gazette dated 23.05.2018 and numbered 30429. This Communique entered into force on the date of its publication, effective from 14.05.2018.
- General Customs Communiqué (Customs Operations, Serial No: 149) was published in the Official Gazette dated 23.05.2018 and numbered 30429. This Communique entered into force on 28.05.2018.
- Communiqué on Preventing Unfair Competition in Imports (No: 2018/19) entered into force through publication in the Official Gazette dated 24.05.2018 and numbered 30430.
- Communiqué on Prevention of Unfair Competition in Imports (No: 2018/20) entered into force through publication in the Official Gazette dated 24.05.2018 and numbered 30430.
- Regulation on Amendment to the Regulation on Highway Transportation entered into force through publication in the Official Gazette dated 25.05.2018 and numbered 30431.
- Law numbered 7144 on Amendment to Certain Laws entered into force through publication in the Official Gazette dated 25.05.2018 and numbered 30431.
- Communiqué (Serial No: 499) on Amendment to the Tax Procedure Law General Communiqué (Serial No: 486) entered into force through publication in the Official Gazette dated 29.05.2018 and numbered 30435.
- Regulation on Amendment to the Regulation on Turkish Patent Institute Patent Expertise and Brand Expertise entered into force through publication in the Official Gazette dated 29.05.2018 and numbered 30435.
- Electricity Market Consumer Services Regulation was published in the Official Gazette dated 30.05.2018 and numbered 30436. The provisions of 3rd and 6th Chapters of this Regulation shall enter into force on 01.07.2018 and the other provisions shall enter into force on the date of publication.
- Authorization Communiqué on the Execution of Investment Incentive Certificate Procedures in Electronic Environment entered into force through publication in the Official Gazette dated 31.05.2018 and numbered 30437.
- Communiqué (No: 2018/1) on the Amendment of the Communiqué Pertaining to the Implementation of the Decree on State Aid in Investments (No: 2012/1) entered into force through publication in the Official Gazette dated 01.06.2018 and numbered 30438.
- Regulation on the Amendment of the Regulation on the Implementation of the Foreign Direct Investment Law entered into force through publication in the Official Gazette dated 01.06.2018 and numbered 30438.
- The Regulation on the Amendment of the Liquidation Regulation entered into force through publication in the Official Gazette dated 03.06.2018 and numbered 30440.
- Communiqué (II-26.1.b) on the Amendment of the Communiqué on the Share Purchase Offer (II-26.1) entered into force through publication in the Official Gazette dated 05.06.2018 and numbered 30442.
- General Customs Communiqué (Transit Regime) (Serial No: 6) entered into force through publication in the Official Gazette dated 05.06.2018 and numbered 30442.
- Regulation on Immovable Trade was published in the Official Gazette dated 05.06.2018 and numbered 30442. The first paragraph of Article 21 of this Regulation shall enter into force three months after the date of publication, and the other Articles shall enter into force on the date of its publication.
- Communiqué on the Amendment of the Communiqué on the Implementation of Imports Surveillance (No: 2017/4) entered into force through publication in the Official Gazette dated 06.06.2018 and numbered 30443.
- Communiqué on Principles Regarding Borrowing Instruments to be Included in the Calculation of Equity by Banks entered into force through publication in the Official Gazette dated 07.06.2018 and numbered 30444.
- Regulation on Amendment to the Regulation on Loan Transactions of Banks entered into force through publication in the Official Gazette dated 07.06.2018 and numbered 30444.
- Regulation on Cheque Clearing Activities was published in the Official Gazette dated 09.06.2018 and numbered 30446. This Regulation shall enter into force on 02.07.2018.
- Communiqué (No: 2018/2) on the Amendment of the Communiqué on Implementation of the Decree on State Aids in Investments (No: 2012/1) was published in the Official Gazette dated 10.06.2018 and numbered 30447. This Communiqué enters into force on 02.07.2018.
- The General Communiqué on Implementation of Provisional Article 1 of the Law on the Amendment of Tax Laws numbered 7103 and Certain Laws and Statutory Decrees entered into force through publication in the Official Gazette dated 11.06.2018 and numbered 30448.
- General Communiqué of Law numbered 7143 (Serial No:2) on Reconstruction of Tax and Various Other Receivables and Amendment to Certain Laws entered into force through publication in the Official Gazette dated 11.06.2018 and numbered 30448.
- General Communiqué on Motor Vehicles Tax (Serial No: 50) entered into force through publication in the Official Gazette dated 11.06.2018 and numbered 30448.
- Income Tax General Communiqué (Serial No: 303) entered into force through publication in the Official Gazette dated 11.06.2018 and numbered 30448.
- Regulation on the Amendment of the Regulation on Arbitration in Insurance was published in the Official Gazette dated 14.06.2018 and numbered 30451. Article 2 of this Regulation shall enter into force two months after the date of publication, and the other provisions shall enter into force on the date of publication.
- Communiqués on the Prevention of Unfair Competition in Imports (Nos: 2018/22, 2018/23, 2018/24, 2018/25) entered into force through publication in the Official Gazette dated 20.06.2018 and numbered 30453.
- Communiqué on Safeguarding Measures in Imports (No: 2018/4) entered into force through publication in the Official Gazette dated 21.06.2018 and numbered 30455.
Competition Board Decisions
- The Board decided that the Resolution of the Board of Directors regarding the advice of implementing the swap commission price, regarding the implementation of foreign currency cheque swaps, in the amount of 17.95 TRL per transaction, until there is a noticeable change in the costs and members make an application to the Turkish Banks Association is within the scope of Article 4 of Law numbered 4054, and granted exemption to Resolution of Board of Directors, subject to notification under Article 5 of Law numbered 4054, because of the characteristic conditions of the service market of cheque payments made with foreign currency, on the condition of not including insurance costs in the calculations. (6.2018, 18-19/338168)
- The Board granted individual exemption to the “Preliminary Agreement” that is planned to be concluded to establish the conditions and principles of the “Sub-production Contract” between Sanofi Sağlık Ürünleri Ltd. Şti. and Abdi İbrahim İlaç Sanayi ve Ticaret A.Ş. as all of the conditions under Article 5 of Law numbered 4054. (31.5.2018, 18-17/299-149)
- The Board granted individual exemption for the period of 25 years that is determined as the operational period, for the establishment of a joint venture corporation (CMLKK Liman İşletmesi A.Ş.) by the Cengiz-Mapa-Limak-Kolin-Kalyon Ortak Girişim Grubu that shall be responsible for completion of the construction and operation for 25 years, of the port that is under construction within the scope of İGA İkmal Terminal Projesi for transaction of the necessary fuel for aircraft in the Third Airport. (5.2018, 18-17/303-152)
- The Board granted individual exemption to the amended versions of the Bonus Credit Program Sharing Agreements signed with Denizbank A.Ş., Şekerbank T.A.Ş., ING Bank A.Ş., ICBC Turkey A.Ş., Fibabank A.Ş., Alternatifbank A.Ş. whose exemptions were withdrawn with the Board decision dated 07.09.2017 and numbered 17-28/462-201, under Article 5 of Law numbered 4054. (31.5.2018, 18-17/305-153).
- The Board granted individual exemption to the part related to the GSM services market of the "Turkcell Digital Merchandising Agreement," which is qualified as a standard contract concluded between Turkcell Satış ve Dağıtım Hizmetleri A.Ş. and Armes İletişim Sistemleri Sanayi ve Dış Ticaret Ltd. Şti., and that is planned to be concluded between other dealers as it satisfies all of the conditions under Article 5 of Law numbered 4054, and decided that the part of the Agreement related to smart phones, tablets, smart device accessories, and new generation tech products benefits from group exemptions. (31.5.2018, 18-17/315-155)
- The Board authorized privatization of the Erzincan and Erzurum Şeker Fabrikaları that is owned by Türkiye Şeker Fabrikaları A.Ş. through the “joint sales” method. (5.2018, 18-15/291-144)
- The Board granted individual exemption for opening of the ATMs owned byC. Ziraat Bankası A.Ş., Türkiye Halk Bankası A.Ş., Türkiye Vakıflar Bankası T.A.O., Vakıf Katılım Bankası A.Ş. ve Ziraat Katılım Bankası A.Ş. for the common use of bank customers without burdening customers with additional commissions, through bilateral contracts signed between the above-mentioned banks, as all conditions under Article 5 of Law numbered 4054. (22.5.2018, 18-15/284-142)
Mergers and Acquisitions
- The Board authorized the acquisition of the whole control of Hail Creek Coal Pty Ltd. that is under the whole control of Rio Tinto Limited by Glencore plc. (12.6.2018, 18-19/323-258)
- The Board authorized the establishment of the joint control over Kansai Helios Coatings GmbH by Kansai Paint Co., Ltd. and Mitsui & Co., Ltd. (12.6.2018, 18-19/324-159)
- The Board authorized the acquisition of the hard plastics packaging business of Coveris Group by Atlas Packaging GmbH. (12.6.2018, 18-19/325-160)
- The Board authorized the whole and indirect acquisition of the control of Exclusive France Holding SAS and Exclusive Management SAS by Permira Holdings Limited. (12.6.2018, 18-19/326-161)
- The Board authorized establishment of the joint control on Severin Topco LLC that is under the sole control of Vista Equity Partners Management LLC by Vista Equity Partners Management LLC and Onex Corporation. (12.6.2018, 18-19/327-162)
- The Board authorized the acquisition of the shares of Pizza Pizza Türker Turistik İşletmeleri İnşaat ve Gıda San. Tic. A.Ş. by Luz Business Opportunities SARL. (6.2018, 18-19/331-165)
- The Board authorized the acquisition of the whole control of Verifone Systems, Inc. by Francisco Partners Managament LP. (12.6.2018, 18-19/336-166)
- The Board authorized the acquisition of the real estate located in İstanbul Province, Maltepe District, Gülsuyu Neighbourhood, G22-A-09-D-2-A sheet, 16212 island, 11 parcel, owned by CarrefourSA Carrefour Sabancı Ticaret Merkezi A.Ş., by Bakırköy Gayrimenkul Yatırım İnşaat Turizm Sanayi ve Ticaret A.Ş. (6.2018, 18-19/339-169)
- The Board decided that acquisition of certain remaining shares of GBH Turizm Sanayi İşletmecilik ve Ticaret A.Ş. by Robinson Club GmbH that already holds the control and certain shares of the company is not subject to authorization. (6.2018, 18-19/344-BD)
- The Board authorized the acquisition of the whole control of U.N Ro-Ro İşletmeleri A.Ş. from Roro Investments S.a.r.l that is indirectly controlled by ACTERA Partners II L.P and ESAS Holding A.Ş., through the acquisition of the whole of Trieste New Holdco Denizcilik ve Taşımacılık A.Ş., by DFDS A/S. (5.2018, 18-17/302-151)
- The Board authorized the acquisition of the whole direct control of Doğan Müzik Kitap Mağazacılık Pazarlama A.Ş. and the whole indirect control of AGT Tanıtım Kâğıt Ürünleri Sanayi ve Ticaret A.Ş. of Doğan Şirketler Grubu Holding A.Ş., by Turkuvaz TK Kitap ve Kırtasiye A.Ş. (ultimately by Ömer Faruk Kalyoncu). (29.5.2018, 18-16/293-146)
- The Board authorized the acquisition of certain shares of Döktaş Dökümcülük Ticaret ve Sanayi A.Ş. by Çelik Holding A.Ş. (5.2018, 18-16/294-147)
- The Board authorized the acquisition of certain shares and the whole control of Fleetcorp Operasyonel Taşıt Kiralama ve Turizm A.Ş. by Development Enterprises Holding Co. KSCC. (29.5.2018, 18-16/295-148)
- The Board authorized the formation of a joint venture between The Goodyear Tire & Rubber Company and Bridgestone Corporation. (5.2018, 18-15/274-135)
- The Board authorized the formation of a joint venture of Ingage Digital Pazarlama Hizmetleri A.Ş by Koç Shareholders (Koç Holding A.Ş., Temel Ticaret ve Yatırım A.Ş., Semahat ARSEL, Suna KIRAÇ, Rahmi Mustafa KOÇ, Ömer Mehmet KOÇ, Ali Yıldırım KOÇ) and Russell Square Holding B.V. (5.2018, 18-15/277-137)
- The Board authorized the formation of a joint venture on NedZink B.V. by ElvalHalcor S.A., which is a subsidiary of Koramic Holding N.V., and VioHalco S.A., in order to operate in the field of zinc products. (22.5.2018, 18-15/285-143)
Energy
- Announcement Regarding the Admittance of 2019 YEKDEM Applications was published on the official site of Energy Market Regulatory Authority ("EMRA") on 14.06.2018.
- Announcement Regarding the National Petroleum Stock was published on the official website of the EMRA on 20.06.2018.
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