Newsletter & Legal Alerts

Q4/2015 Procedures and Principles of the General Assembly Meetings

Regulation on Procedures and Principles of the General Assembly Meetings of Joint Stock Companies and the Representative of Customs of Trade Ministry appointed for these Meetings (published in the official Gazette dated November 28, 2012 and numbered 28481) has been amended (published in the Official Gazette dated October 27, 2015). Pursuant to the amendment, chairman of the meeting shall sign the list of attendants by confirming if the documents that grant the right to join to the meeting have been checked by the managing body.

Published on: January 2016


Q4/2015 Others – All Sectors

An amendment to the Regulation Regarding Implementation of the European Convention on Patent in Turkiye has been published in the Official Gazette dated November 26, 2015 and numbered 29544 by the Turkish Patent Institute.

Published on: January 2016


Q3/2015 Corporate Others – All Sectors

A new Communiqué has been published in the Official Gazette dated August 25, 2015 and numbered 29456 in order to abolish the Communiqué on Electricity Market Retail Sales Agreement (published in the Official Gazette dated August 31, 2003 and numbered 25215). A new regulation on Advertising Activities of Medicinal Products for Human Use has been published in the Official Gazette dated July 3, 2015 and numbered 29405. Cabinet Decree on Pricing of Medicinal Products for Human Use has been published in the Official Gazette dated July 10, 2015 and numbered 29412. A new regulation on Carriage of Hazardous Substances by Railway has been published in Official Gazette dated July 16, 2015 and numbered 29418. A new regulation on Tunnel Management has been published in Official Gazette dated August 4, 2015 and numbered 29435. A new regulation on Service Provider and Intermediary Service Providers at Electronic Commerce has been published in Official Gazette dated August 26, 2015 and numbered 29457.

Published on: October 2015


Q2/2015 Scope of the Insurance Liability for Hazardous Substances Has Been Amended

Amendment to the Decree of The Council Of Ministers Regarding the Insurance Liability for Hazardous Substances has been published in the Official Gazette dated June 1, 2015 numbered 29373. With this Amendment, institutions and organizations which lie beyond the scope of thisDecree have been amended. Pursuant to the Decree of The Council Of Ministers Regarding the Insurance Liability for Hazardous Substances which has been published in the Official Gazette dated March 11, 2010 numbered 27518, public administrations under Schedule of the Public Finance Management and Control Law are not included in the scope of this Decree. According to the Amendment Decree, real persons and legal entities which have internal funds within the scope of the procedures and principles determined by the Undersecretariat of Treasury are exempt from insurance liability on condition that they have the same coverage content with the insurance under this Decree.

Published on: July 2015


Q2/2015 Sampling and Inspection Fees Have Been Amended

Amendment to the Regulation on Market Surveillance and Inspection by the Ministry Of Science, Industry and Technology has been published by the related Ministry in the Official Gazette dated May 16, 2015 numbered 29357. With this Amendment Regulation, Article 8, Paragraphs 2 of the Regulation on Market Surveillance and Inspection by the Ministry Of Science, Industry and Technology in the Official Gazette dated October 2, 2012 numbered 28429 has been amended. The amendment entails that if the samples are found to be unsafe or not complying with the technical regulations, the producer shall pay the sampling and inspection fees billed by the inspection body directly to this inspection body.

Published on: July 2015


Q1/2015 Others – All Sectors

The Regulation Regarding Package Tour Contracts has been published by the Ministry of Customs and Trade (O.G. January 14, 2015, 29236). The Regulation Regarding Instalment Sale Contracts has been published by the Ministry of Customs and Trade (O.G. January 14, 2015, 29236).

Published on: April 2015


Q4/2014 The Law Regarding the Electronic Commerce

Please see the Dispıute Resolution section.

Published on: January 2015


Q4/2014 Others – All Sectors

An amendment to Regulation on Insurance Agents has been published by the Undersecretariat of Treasury (O.G. October 11, 2014, 29142). An amendment to the Regulation on Independent Audit has been published by the Public Oversight, Accounting and Auditing Standards Authority (O.G. October 21, 2014, 29152). An amendment to the Regulation on Petroleum Market License by the Energy Market Regulatory Authority has been published (O.G. November 28, 2014, 29189). An amendment to the Regulation on Customs by the Ministry of Customs and Trade has been published (O.G. December 2, 2014, 29193). An amendment to the Regulation on Control of Air Pollution from Industry by the Ministry of Environment and Urban Planning has been published (O.G. December 20, 2014, 29211). An amendment to the Regulation on Control of Waste Batteries and Accumulators by the Ministry of Environment and Urban Planning has been published (O.G. December 23, 2014, 29214). An amendment to the Regulation on Petroleum Market License by the Energy Market Regulatory Authority has been published (O.G. December 26, 2014, 29217). An amendment to the Regulation on Electricity Market License by the Energy Market Regulatory Authority has been published (O.G. December 26, 2014, 29217). An amendment to the Regulation on Natural Gas Market License by the Energy Market Regulatory Authority has been published (O.G. December 26, 2014, 29217). An amendment to the Regulation on Implementation of Organized Industrial Zones by the Ministry of Science, Industry and Technology has been published (O.G. December 27, 2014, 29218). An amendment to the Regulation on Electricity Market Imports and Exports by the Energy Market Regulatory Authority has been published (O.G. December 28, 2014, 29219). An amendment to the Regulation on Insurance Agents by the Undersecretariat of Treasury has been published (O.G. December 30, 2014, 29221).

Published on: January 2015


Q4/2014 A New Regulation on Distance Agreements Has Been Published

A Regulation on Distance Agreements has been published by the Ministry of Customs and Trade (O.G. November 27, 2014, 29188), and will enter into force on February 27, 2015. The purpose of this law is to regulate methods and principles related to the distance agreements.

 

Article 5 of this Regulation specifies in detail the information which should be given to the consumer by the seller or supplier before executing a distance agreement or accepting any offer equivalent to an agreement.

 

Another substantial issue regarding the distance agreements is the duration of right of withdrawal. As per Article 9 of this Regulation, the consumer has a right of withdrawal from the agreement within 14 days without providing a justification and paying any penalty. 

Published on: January 2015


Q3/2014 Corporate: Other Regulations

The Communiqué on Danger Classes regarding Occupational Health and Safety (published in the Official Gazette dated December 26, 2012 and numbered 28509) was amended on April 18, 2014.

Article 13 of the Regulation on the Compliance Program in relation to the Obligations to Prevent Laundering of Crime Revenues and Financing of Terrorism (published in the Official Gazette dated June 11, 2014 and numbered 29027) (the "Compliance Regulation") was amended on June 11, 2014. The amendment expands the list of risk control measures that obligors should implement in order to focus on those customers and transactions that potentially pose greatest risk of money laundering.

The General Communiqué on Notification of Suspicious Transactions in relation to Terrorism Financing (published in the Official Gazette dated June 11, 2014 and numbered 29027) (the "Amending Communiqué") was amended. Pursuant to the amendment, funding of or fund-raising for the following purposes is forbidden: (i) manslaughter or the grievous bodily harm with the purpose to frighten or suppress people or to pressure a government or an international institution to perform an action or to avoid performing an action; (ii) actions that are considered as crimes of terrorism in the scope of Counterterrorism Act dated 12/4/1991 and numbered 3713; and (iii) actions that are prohibited and regulated as crimes under various conventions that have been ratified by Turkey in relation to unlawful seizure of aircraft, safety of civil aviation, crimes against internationally protected persons, taking of hostages, protection of nuclear material, safety of maritime navigation, suppression of the terrorist bombing, etc.

A person who funds or fund-raises for a terrorist or a terrorist organization by aiming or knowing and willing that the funds will be used for the performance of any action regulated as a crime as described above, will be sentenced to five to ten years of imprisonment, if the action does not constitute a crime that mandates a graver punishment. Additionally, it is not required that the funds actually be used to commit a crime for the punishment to be applied. If a terrorism financing crime is committed through exploitation of influence obtained by a public service position, the punishment shall be increased by half.

The Financial Crimes Investigation Committee issued General Communiqué No.12 (published in the Official Gazette dated June 21, 2014 and numbered 29037) (the "General Communiqué No.12") which sets forth principles for the freezing of assets and their management during such period in accordance with the Law on the Prevention of Terrorism Financing (Law No. 6415).

Published on: October 2014