Recent Keynotes of November 2021
International Agreements
- The Resolution of the President dated 04.11.2021 and numbered 4754 on the Approval of the Agreement Between the Government of the Islamic Republic of Mauritania on Cooperation in the Field of Fisheries and Maritime Economy was published in the Official Gazette dated 05.11.2021 and numbered 31650.
- The Resolution of the President dated 15.11.2021 and numbered 4805 on the Approval of the Protocol of Non-Substantial Amendment to the Financing Agreement on the Annual Action Program for Turkey under the Instrument for Pre-Accession Assistance for the year 2017 was published in the Official Gazette dated 16.11.2021 and numbered 31661.
Resolutions of the President
- The Resolution of the President dated 27.10.2021 and numbered 4641 on the Amendment to the Statute of the Turkish Payment and Electronic Money Institution Union entered into force through publication in the Official Gazette dated 28.10.2021 and numbered 31642.
- The Resolution of the President dated 28.10.2021 and numbered 4713 on Freezing the Assets that are in the Disposition of Specific People and Organizations in Turkey entered into force through publication in the Official Gazette dated 29.10.2021 and numbered 31643.
- The Resolution of the President on the Amendment of Certain Resolutions of the President dated 12.11.2021 and numbered 86 entered into force through publication in the Official Gazette dated 13.11.2021.
Legislation
- The Regulation on the Amendment to the Regulation on the Procedures and Principles Regarding the Control of Intermediation Activities for Immovable Properties entered into force through publication in the Official Gazette dated 26.10.2021 and numbered 31640.
- The Law No. 7338 on Amendments to Tax Procedural Law and to Certain Laws was published in the Official Gazette dated 26.10.2021 and numbered 31640. The provisions of this Law enter into force on different dates.
- The Communiqué on Equity Crowdfunding (No: III-35/A.2) entered into force through publication in the Official Gazette dated 27.10.2021 and numbered 31641.
- The Regulation Amending the Regulation on Unlicensed Electricity Generation in the Electricity Market entered into force through publication in the Official Gazette dated 31.10.2021 and 31645.
- The Regulation on the Abrogation of the Regulation Regarding the Membership and the Principles of Membership of the Istanbul Stock Exchange entered into force through publication in the Official Gazette dated 04.11.2021 and numbered 31649.
- The Communiqué (No: 2021/4) on the Amendment of the Communiqué on Block Exemption Regarding Vertical Agreements (No: 2002/2) entered into force through publication in the Official Gazette dated 05.11.2021 and numbered 31650.
- The Regulation Amending the Customs Regulation entered into force through publication in the Official Gazette dated 05.11.2021 and numbered 31650.
- The Law No. 7341 on the Amendment of the Law on the Establishment and Duties of the Turkish Exporters Assembly and the Exporters’ Association and Certain Laws entered into force through the publication in the Official Gazette dated 06.11.2021 and numbered 31651.
- The Communiqué on the Amendment to the Communiqué (Serial No: 2021-32/63) on the Amendment to the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency entered into force through publication in the Official Gazette dated 06.11.2021 and numbered 31651.
- The Communiqué General on Customs (Serial No:14) was published in the Official Gazette dated 06.11.2021 and numbered 31651. The Communiqué will enter into force on 01.01.2022.
- The Communiqué (Serial No:2021/10) on the Amendment to the Communiqué No. 2013/15 on Mandatory Reserves was published in the Official Gazette dated 09.11.2021 and numbered 31654. The Communiqué entered into force on the date of publication and became effective from 28.10.2021 retroactively.
- The Regulation on the Amendment to the Regulation on Principles and Procedures of Aid Collection entered into force through publication in the Official Gazette dated 10.11.2021 and numbered 31655.
- The Regulation on the Amendments to the Regulation on Electronic Notary Transactions entered into force through publication in the Official Gazette dated 11.11.2021 and numbered 31656.
- The Communiqué (Serial No: 2021/12) on the Amendment to the Communiqué on Procedures and Principles Regarding the Fees That Banks Can Charge Their Financial Clients entered into force through publication in the Official Gazette dated 13.11.2021 and numbered 31658.
- The Communiqué (Serial No:2021/11) on the Amendment to the Communiqué on Procedures and Principles Regarding the Fees That Banks Can Charge Their Commercial Clients entered into force through publication in the Official Gazette dated 13.11.2021 and numbered 31658.
- The Regulation on the Amendment to the Regulation on the Transportation of Dangerous Goods by Sea Transportation entered into force dated 14.11.2021 and numbered 31659.
- The Regulation on the Transportation of Dangerous Goods by Sea and Safe Embarkment was published in the Official Gazette dated 14.11.2021 and numbered 31659. The provisions of this Regulation enter into force on different dates.
- The Regulation on the Amendment to the Regulation pertaining to the Law on Mediation in Civil Law Disputes entered into force through publication in the Official Gazette dated 17.11.2021 and numbered 31662.
- The Regulation on the Amendments to the Regulation on the Electricity Market Ancillary Services Regulation entered into force through publication in the Official Gazette dated 18.11.2021 and numbered 31663.
- The Communiqué on the Amendments to the Communiqué on the Amendments to the Communiqué on Decree No. 32 on the Protection of the Value of Turkish Currency entered into force through publication in the Official Gazette dated 18.11.2021 and numbered 31663.
- The Regulation on the Abrogation of the Regulation on Public Procurement of the Directorate of Privatization Administration Regarding the Administrative Budget entered into force through publication in the Official Gazette dated 19.11.2021 and numbered 31664.
- The Communiqué (No: 2021/7) on Safeguard Measures for Exports entered into force through publication in the Official Gazette dated 20.11.2021 and numbered 31565.
Competition Board Decisions
- The Competition Board (“Board”) granted a negative clearance certificate pursuant to Article 8 of Law No. 4054 on the Protection of Competition (“Law No. 4054”) to the Automotive Industry Association to collect and share the information regarding the amount of production and imports by expanding it’s scope which will be publicly presented. (21.10.2021, 21-51/714-355)
- The Board concluded that the GES Construction and Maintenance Agreement between Enerjisa Müşteri Çözümleri A.Ş. and Galatasaray Spor Kulübü Derneği does not violate Article 4, 6 and 7 of Law No. 4054, and thus granted a negative clearance certificate pursuant to Article 8 to the Agreement. (21.10.2021, 21-51/706-350)
- The Board finalized its investigation concerning supermarket chains dealing with retailing of food and cleaning products, their suppliers at producer and wholesaler level, and an association, and determined that Article 4 of the Law No. 4054 had been violated. (28.10.2021, 21-53/747-360)
- The Board granted individual exemption to the New Financial Restructuring Framework Agreements, including adopted changes by the Amendment Protocols, envisaging revision of Financial Restructuring Framework Agreements (Large and Small-Scale Applications), which were exempted by the decisions dated 23.01.2020 and numbered 20-06/69-38 and dated 07.11.2019 and numbered 19-38/564-233. (04.11.2021, 21-54/755-376)
Mergers and Acquisitions
- The Board authorized the acquisition of the Fenerbahçe-Kalamış Yacht Port for 40 years by Tek-Art Kalamış and Fenerbahçe Marmara Turizm Tesisleri A.Ş. (21.10.2021, 21-51/726-359)
- The Board authorized the acquisition of the sole control of K1 Group S.A.S.U by Apollo Management through Lune BidCo SAS (21.10.2021, 21-51/710-352)
- The Board authorized the acquisition of the sole control of Suez S.A. by Veolia Environnement S.A. (21.10.2021, 21-51/705-349)
- The Board authorized the acquisition of the joint control of Adnan Polat Enerji Yatırımı A.Ş. by Maxis Girişim Sermayesi Portföy Yönetimi A.Ş. Temiz Enerji Girişim Sermayesi Yatırım Fonu (21.10.2021, 21-51/704-348)
- The Board authorized the acquisition of the sole control of Mare Manastır Rüzgâr Enerji Santralı Sanayi ve Ticaret A.Ş. and Dares Manastır Rüzgâr Enerji Santralı Sanayi ve Ticaret A.Ş. by the Demirer Family (21.10.2021, 21-51/703-347)
- The Board authorized the acquisition of the sole control of Ekol Ofset Matbaacılık Tesisleri Ambalaj San. ve Tic. A.Ş. by Vanrom NV (28.10.2021, 21-53/746-373)
- The Board authorized the acquisition of the control of Uluğ Enerji Dağıtım ve Perakende Satış Hizmetleri A.Ş. and its subsidiaries Uludağ Elektrik Dağıtım A.Ş. and Limak Uludağ Elektrik Perakende A.Ş. by Long Life Infrastructure Fund through Uludağ Power Networks UK Limited. (28.10.2021, 21-53/745-361)
- The Board authorized the acquisition of the Taşucu Port belonging to the Turkish Maritime Organization by a joint venture group consisting of Ceynak Lojistik ve Tic. A.Ş. and Ceyport Terminal Lojistik ve Tic. A.Ş. (28.10.2021, 21-53/744-372)
- The Board authorized the acquisition of the indirect joint control of Clubessential Holdings, LLC by Silver Lake Group, LLC and Battery Management Corp. (28.10.2021, 21-53/743-371)
- The Board authorized the acquisition of the sole control of Hella GmbH & Co, KGaA by Faurecia S.E. (28.10.2021, 21-53/740-370)
- The Board authorized the acquisition of the sole control of IC İÇTAŞ EGİS Otoyol İşletme ve Bakım A.Ş. by IC Altyapı İşletme ve Ticaret A.Ş. (28.10.2021, 21-53/734-368)
- The Board authorized the acquisition of the sole control Etap Doğan Plastik Ambalaj San. ve Tic. A.Ş. and Etap Enjeksiyon Plastik San. ve Tic. A.Ş. by DW Reusables N.V. through Liqui-Box Holdings, Inc. (28.10.2021, 21-53/733-367)
- The Board authorized the acquisition of the sole control of the TAIF Joint Stock Company by SİBUR Holding. (28.10.2021, 21-53/731-366)
- The Board authorized the acquisition of the joint control of Kumho Mitsui Chemicals by Mitsui Chemicals, Inc. and Kumho Petrochemical Co., Ltd. (28.10.2021, 21-53/730-365)
- The Board authorized the establishment of a joint venture by Sinovac (Hainan) Life Sciences Co., Ltd. and Alagöz Holding Anonim Şirketi. (04.11.2021, 21-54/760-379)
- The Board authorized the acquisition of joint control on the Mitsui Bussan I-Fashion Ltd by Nippon Steel Trading Corporation and Mitsui & Co., Ltd. after the acquisition of the sole control of the textile business line of Nippon Steel Trading Corporation and Mitsui & Co., Ltd. (04.11.2021, 21-54/756-377)
- The Board authorized the acquisition of the Akköprü Hydroelectric Power Plant belonging to Elektrik Üretim A.Ş and immovable assets used for the Power Plant by Aydem Yenilenebilir Enerji A.Ş., Cemar Madencilik San. ve Tic. Ltd. Şti., and Entek Elektrik Üretimi A.Ş. (04.11.2021, 21-54/759-378)
- The Board authorized the establishment of a joint venture by Sky UK limited which is a subsidiary of Comcast Corporation and Paramount Pictures International Limited which is a subsidiary of ViacomCBS Inc. (04.11.2021, 21-54/750-374)
- The Board decided that the acquisition of the assets of a portion of the shares of the subsidiary of Artıbir Enerji Antges Enerji Üretim A.Ş, where Artıbir Enerji has 100% percent of its shares, by Arz Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi Anonim Şirketi Üçüncü Girişim Sermayesi Yatırım Fonu, which is ultimately controlled by Arz Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi A.Ş., and establishment of joint control on Antges Enerji Üretim A.Ş by Arz Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi Anonim Şirketi Üçüncü Girişim Sermayesi Yatırım Fonu is not subject to authorization. (11.11.2021, 21-55/779-BD)
- The Board decided that the acquisition of all of the shares of KIKO Kozmetik Ürünleri Ticaret Anonim Şirketi by the partnership of KIKO S.p.A and Doğuş Zhenfa Kozmetik Ticaret Anonim Şirketi is not subject to authorization. (11.11.2021, 21-55/768-BD)
- The Board decided that the acquisition of some of the shares of Avrasya Gaz Anonim Şirketi by Promak Enerji Sanayi Ticaret A.Ş is not within the scope of authorization. (11.11.2021, 21-55/767-BD)
- The Board authorized the acquisition of Flint Group’s fleksographic and XSYS business lines by LSF11 Folio Bidco GmbH. (11.11.2021, 21-55/778-385)
- The Board authorized the acquisition of the sole control of Brightstar Telekomünikasyon ve Dağıtım Limited Şirketi by Arena Bilgisayar Sanayi Ev Ticaret A.Ş, which is controlled by Redington (India) Limited. (11.11.2021, 21-55/777-384)
- The Board authorized the acquisition of actives and passives of AT&T’s WarnerMedia part, management, and activities by Discovery, Inc. (11.11.2021, 21-55/774-382)
- The Board authorized the acquisition of Topçam Hydroelectric Power Plant and Power Plant’s immovable assets by Bilgin Güç Santralleri Enerji Üretim AŞ and Nokta Yatırım Holding AŞ. (11.11.2021, 21-55/761-380)
Energy
- The decision of the Energy Market Regulatory Authority (“EMRA”) dated 21.10.2021 and numbered 10502 was published in the Official Gazette dated 23.10.2021 and numbered 31637.
- The decision of the EMRA dated 21.10.2021 and numbered 10499 was published in the Official Gazette dated 28.10.2021 and numbered 31642.
- The decisions of the EMRA dated 28.10.2021 and numbered 10523 and 10524 were published in the Official Gazette dated 03.11.2021 and numbered 31648.
- The decisions of the EMRA dated 28.10.2021 and numbered 10518 and 10519 were published in the Official Gazette dated 04.11.2021 and numbered 31649.
- The decisions of the EMRA dated 11.11.2021 and numbered 10551, 10552, 10554-1 and 10554-2 were published in the Official Gazette dated 15.11.2021 and numbered 31660.
- The decision of the EMRA dated 11.11.2021 and numbered 10560 was published in the Official Gazette dated 16.11.2021 and numbered 31661.
- The decisions of the EMRA dated 18.11.2021 and numbered 10567, 10568, 10569 and 10570 were published in the Official Gazette dated 19.11.2021 and numbered 31664.
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...