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News & Insights

June 20, 2018

Turkey Implements Mandatory Vehicle Emergency Calling Programme

Legal Alerts
International Commercial and Trade
IT & Communications

Recent Developments The Regulation on the Preparation of Administrative Provisions for the Type-Approval of Motor Vehicles with respect to their 112-based eCall in-Vehicle Systems Service and Privacy and Data Protection for the Users of Such System (2017/78/EU) (“Administrative Provisions Regulation”); the Regulation on the Technical Requirements and Test Procedures for the Type-Approval of Motor Vehicles […]

June 19, 2018

New Regulation on Consumer Services in the Electricity Market

Legal Alerts
EMI
International Commercial and Trade

Recent Development The Energy Market Regulatory Council (“EPDK“) recently published a new Regulation on Consumer Services in the Electricity Market (“Regulation“), introducing new provisions for bilateral agreements to be executed between consumers with low consumption rates and electricity suppliers and repealing the previous regulation dated May 8, 2014. Provisions of the Regulation on bilateral agreements […]

June 18, 2018

Cosmetics Safety: Turkey Continues Cracking Down on Unsafe and Non- Compliant Cosmetic Products

Legal Alerts
Healthcare

Recent Developments The Turkish Medicines and Medical Devices Agency (“TİTCK”) recently announced the results of its cosmetics sector market surveillance and inspection conducted between January and March 2018. What Do the Results Say? The TİTCK’s Cosmetics Supervision Department published the list of unsafe and non-compliant cosmetics products detected during the first quarter of 2018. Of […]

June 13, 2018

New Regulation on Reconciliation of Administrative Fines under the Consumer Protection Law

Legal Alerts
International Commercial and Trade

Recent Development The Ministry of Customs and Trade (“Ministry“) recently published a new Regulation on the Reconciliation of Administrative Fines under Law No. 6502 on the Protection of Consumers (“Regulation“), establishing the procedures and principles for the reconciliation mechanism for administrative fines imposed under Law No. 6502 on the Protection of Consumers (“Consumer Protection Law“). […]

June 12, 2018

Turkish Treasury to Invest in Venture Capital Funds

Legal Alerts
Capital Markets

Recent Development The Council of Ministers’ decision no. 2018/11662, published in the Official Gazette on 5 June 2018, paved the way for the Undersecretariat of Treasury (“Treasury”) to invest in venture capital funds (“funds”). While the decision determines the general framework applicable to the Treasury’s investments in these funds, the Treasury, through the protocol to […]

June 11, 2018

FX Loan Borrowing for Ordinary Partnerships

Legal Alerts
Banking & Finance

Recent Development The Capital Movements Circular was amended to clarify the regules regarding FX loan borrowings by ordinary partnerships in which all the partners are legal persons (“Ordinary Partnerships“). What Does the Amendment Say? Ordinary Partnerships will be considered Turkish residents and FX loans extended to Ordinary Partnerships will be considered loans utilized by the […]

June 7, 2018

Procedures and Principles for Issuing Building Registration Certificates

Uncategorized
Real Estate

Recent Development The Communiqué on the Procedures and Principles for the Issuance of Building Registration Certificates (“Communiqué”) was published in the Official Gazette No. 30443 and dated June 6, 2018. What Does the Communiqué Say? The Communiqué regulates the rules for applying for building registration certificates and the determination of registration fees. Application One of […]

June 5, 2018

Banks Exempt from Tender Offer Requirements for Public Company Shares Foreclosure

Legal Alerts
Banking & Finance

Recent Development The Turkish Capital Markets Board (“CMB”) amended the Tender Offer Communiqué II-26.1 on June 5, 2018 to introduce a major change to the tender offer regime in Turkey. The amendment provides banks with certain exceptions to tender offer requirements, enabling them to dispose more easily of public company shares (“pledged shares”) provided to […]

May 24, 2018

Turkey Amends FX Loan Amounts for Renewable Energy Projects

Legal Alerts
Banking & Finance

Recent Development The Capital Movements Circular was amended to change the total amount of FX loans Turkish residents can borrow for financing renewable energy projects with state guarantee and made under the framework of the Law No. 5346 on the Use of Renewable Energy Resources for the Purposes of Generating Electricity. What Does the Amendment […]

May 21, 2018

Zoning Peace

Legal Alerts
Real Estate

Recent Development The Law on Amendments to Certain Laws and Restructuring of Tax and Certain Other Receivables No. 7143 (“Law“) adding a provisional article to the Zoning Law No. 3194 and regulating the rules of the zoning peace (“Zoning Peace“) newly included in the legislation was published in the Official Gazette No. 30425 and dated […]

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