Turkey: Recent Keynotes Of August 2018

Last Updated: 25 September 2018
Article by Erdem & Erdem

International Agreements

  • The Resolution of the President dated 14.08.2018 and numbered 2018/34 on the Entry into Force of the Agreement between the Government of Republic of Turkey and the Government of the Somali Republic regarding Healthcare Donation was published in the Official Gazette dated 17.08.2018 and numbered 30512.

Resolutions of the President

  • Resolution of the President dated 14.08.2018 and numbered 2018/21 on Amendment to the Resolution on Application of Additional Financial Obligation on the Import of Certain Goods Originating in the United States of America was published in the Official Gazette dated 15.08.2018 and numbered 30510.
  • Resolution of the President dated 14.08.2018 and numbered 2018/22 on Amendment to the Resolution on Determination of the Value Added Tax Ratio to be Applied to Goods and Services was published in the Official Gazette dated 15.08.2018 and numbered 30510.
  • Resolution of the President dated 15.08.2018 and numbered 2018/36 on Rules and Procedures regarding Application of Industry Collaboration Projects was published in the Official Gazette dated 16.08.2018 and numbered 30511.

Legislation

  • The Tariff on the Amendment to Minimum Attorney Fee Tariff was entered into force through publication in the Official Gazette dated 27.07.2018 and numbered 30491.
  • The Regulation on the Amendment to Planned Zoning Areas Regulation was entered into force through publication in the Official Gazette dated 28.07.2018 and numbered 30492.
  • The Regulation on the Amendment to the Consultancy Service Procurement Implementation Regulation was published in the Official Gazette dated 13.08.2018 and numbered 30508. Article 3 of the Regulation shall enter into force 7 days following the publication date, and the other provisions shall enter into force on the date of publication.
  • The Regulation on the Amendment to the Service Procurement Implementation Regulation was published in the Official Gazette dated 13.08.2018 and numbered 30508. Article 3 of the Regulation shall enter into force 7 days following the publication date, and the other provisions shall enter into force on the date of publication.
  • The Regulation on the Amendment to the Procurements Implementation Regulation related to the Purchase of Goods was published in the Official Gazette dated 13.08.2018 and numbered 30508. Article 3 of the Regulation shall enter into force 7 days following the publication date, and the other provisions shall enter into force on the date of publication.
  • The Regulation on the Amendment to the Procurement Implementation Regulation related to Construction Works was published in the Official Gazette dated 13.08.2018 and numbered 30508. Article 3 of the Regulation shall enter into force 7 days following the publication date, and the other provisions shall enter into force on the date of publication.
  • The Regulation on the Amendment to the Regulation related to Indirect Shareholding of Banks and Transactions of Banks subject to Permission was entered into force through publication in the Official Gazette dated 14.08.2018 and numbered 30509.
  • The Communique (No: 2018/6) on the Amendment to the Required Reserves Communique (No: 2013/15) was published in the Official Gazette dated 14.08.2018 and numbered 30509. The Communique entered into force on its publication date and became effective as of 27.07.2018.
  • The Regulation on the Amendment to the Regulation regarding Rules and Principles to be applied to Retail Trade was published in the Official Gazette dated 15.08.2018 and numbered 30510. The Regulation entered into force on 01.09.2018.
  • The Regulation on the Amendment to the Regulation regarding Bank Cards and Credit Cards was entered into force through publication in the Official Gazette dated 15.08.2018 and numbered 30510.
  • The Regulation on the Amendment to the Regulation regarding Loan Transactions of Banks was published in the Official Gazette dated 15.08.2018 and numbered 30510. The Regulation entered into force on 01.09.2018.
  • The Regulation on the Amendment to the Regulation regarding the Principles related to the Establishment and Activities of Financial Leasing, Factoring and Finance Companies was published in the Official Gazette dated 15.08.2018 and numbered 30510. The Regulation entered into force on 01.09.2018.
  • The Regulation on Restructuring of Debts in the Financial Sector was entered into force through publication in the Official Gazette dated 15.08.2018 and numbered 30510.
  • The Regulation on the Amendment to the Regulation on the Rules and Procedures regarding Classification of the Loans and Bank Reserves was entered into force through publication in the Official Gazette dated 15.08.2018 and numbered 30510.
  • The Communique on Price Increase Rates to be applied to Project and Inspection Transactions was published in the Official Gazette dated 16.08.2018 and numbered 30511. The Communique entered into force on 01.07.2018.
  • Communique (No. 4) on Amendment of the General Communique of Law numbered 7143 related to the Restructuring of Taxes and Other Receivables and Amendments to Certain Laws (No. 3) entered into force through publication in the Official Gazette on 18.08.2018 and numbered 30513.

Competition Board Decisions

  • The Competition Board ("Board") granted individual exemption to the Program Sharing Agreement regarding the Bonus Credit Card signed between Türkiye Garanti Bankası A.Ş. and Türkiye Finans Katılım Bankası A.Ş., as all conditions under Article 5 of Law numbered 4054 have been satisfied. (8.8.2018, 18-27/449-219)
  • The Board granted individual exemption to the Program Sharing Agreement regarding the Bonus Credit Card signed between Türkiye Garanti Bankası A.Ş. and Burgan Bank A.Ş., as all conditions under Article 5 of Law numbered 4054 have been satisfied. (8.8.2018, 18-27/448-218)
  • The Board granted individual exemption to the Program Sharing Agreement regarding the Bonus Credit Card signed between Türkiye Garanti Bankası A.Ş. and Türkiye Ekonomi Bankası A.Ş. as all conditions under Article 5 of Law numbered 4054 have been satisfied. (8.8.2018, 18-27/447-217)
  • The Board granted individual exemption to the Distributorship Agreement signed between Mutlu Holding A.Ş. and Alacakaya Petrol Ürünleri İnşaat Otomotiv Servis Hizmetleri Sanayi ve Ticaret Ltd. Şti., and planned to be signed between Mutlu Holding A.Ş. and other distributors, as standard contracts, as all conditions under Article 5 of Law numbered 4054 have been satisfied. ( 8.8.2018, 18-27/446-216)
  • The Board granted individual exemption to the Wholesale Level Fiber Data Flow Access Service and Support Services Framework Cooperation Agreement signed between Superonline İletişim Hizmetleri A.Ş. and Vodafone Net İletişim Hizmetleri A.Ş. for three years, excluding Attachment 8/1.8-II. (8.8.2018, 18-27/438-208)
  • The Board granted a negative declaratory certificate related to the establishment of three new joint venture companies (CMLKK Otopark İşletme Hizmetleri A.Ş., CMLKK Döviz Ticaret Yetkili Müessese A.Ş. and CMLKK Akaryakıt İstasyonları İşletmeciliği A.Ş.) by Cengiz İnşaat Sanayi ve Ticaret A.Ş., Mapa İnşaat ve Ticaret A.Ş., Limak İnşaat Sanayi ve Ticaret A.Ş., Kolin İnşaat Sanayi ve Ticaret A.Ş., Kalyon İnşaat Sanayi ve Ticaret A.Ş. Ortak Girişim Grubu in order to provide parking services, exchange office services, and operation of gas stations within the İstanbul 3. Airport pursuant to Article 8 of Law numbered 4054. (2.8.2018, 18-24/426-200)
  • The Board granted a negative declaratory certificate related to the establishment of a new joint venture (İGA Havalimanı Akaryakıt Hizmetleri A.Ş.) by Cengiz İnşaat Sanayi ve Ticaret A.Ş., Mapa İnşaat ve Ticaret A.Ş., Limak İnşaat Sanayi ve Ticaret A.Ş., Kolin İnşaat Sanayi ve Ticaret A.Ş., Kalyon İnşaat Sanayi ve Ticaret A.Ş. Ortak Girişim Grubu in order to purchase aircraft fuel from suppliers, and provide fueling services to aircraft via hydrant systems parking area services pursuant to Article 8 of Law numbered 4054. (2.8.2018, 18-24/421-199)

Mergers and Acquisitions

  • The Board decided that the acquisition of the sole control of Toledo Molding & Die, Inc. by Grammer AG is not subject to authorization. (8.8.2018, 18-27/458-BD)
  • The Board authorized the acquisition of the sole control of Clearlake Sage Intermediate Holdings, Inc. and its subsidiaries by Asahi Kasei Corporation. (8.8.2018, 18-27/464-226)
  • The Board authorized the transfer of certain assets of The Dow Chemical Company regarding manufacture, distribution, and sale of extruded polystyrene to Ravago S.A. (8.8.2018, 18-27/453-222)
  • The Board authorized the acquisition of a certain portion of privileged shares of EHM Mağazacılık Sanayi ve Ticaret A.Ş. by Ayya Perakende Yatırımları A.Ş.. (8.8.2018, 18-27/452-221)
  • The Board authorized the establishment of a joint venture between The Boeing Company and Safran Power Units USA, LLC. (8.8.2018, 18-27/445-215)
  • The Board authorized the transfer of Mitsubishi Corporation and Mitsubishi UFL Lease and Finance Company Limited shares from International Automotive Holding B.V. to Rafan Holding B.V. (8.8.2018, 18-27/444-214)
  • The Board authorized the acquisition of the sole control over Financiere Efel SAS by The Blackstone Group L.P. (8.8.2018, 18-27/443-213)
  • The Board authorized the acquisition of the sole control over Frutarom Industries Ltd. by International Flavors & Fragrances Inc. (8.8.2018, 18-27/441-211)
  • The Board authorized the transfer of the sole control over Elica PB India Private Limited from Elica S.p.A. to the shared control of Whirlpool Corporation and Elica S.p.A. (8.8.2018, 18-27/437-207)
  • The Board authorized the acquisition of the shares of and sole control over Aktiebolaget Rotech and Rotek Robotik ve Otomasyon Teknolojileri Sanayi ve Ticaret A.Ş. by ABB Ltd. (8.8.2018, 18-27/435-205)
  • The Board authorized the transfer of the shares of QFIB Healthcare 2 S.A.R.L in İstanbul Memorial Sağlık Yatırımları A.Ş., together with their privileges, to Taya Sağlık Yatırımları A.Ş., which is within the structure of the Aydın Group of Companies. (14.8.2018, 18-28/472-230)
  • The Board authorized the acquisition of the shares of Okida Elektronik San. ve Tic. A. Ş., by Sabaf Beyaz Eşya Parçaları San. ve Tic. Ltd. Şti. and Sabaf S.p.A. (14.8.2018, 18-28/471-229)
  • The Board authorized the acquisition of the whole shares of Lodos Elektrik Üretim A.Ş. by Cengiz İnşaat San. ve Tic. A.Ş., Mapa İnşaat ve Tic. A.Ş., Limak İnşaat San. ve Tic. A.Ş., Koloğlu Holding A.Ş. and Kalyon Havacılık ve İnşaat A.Ş., by establishing shared control. (14.8.2018, 18-28/468-227)

Energy

  • The Regulation on the Amendment to the Regulation regarding Natural Gas Market Distribution and Customer Services entered into force through publication in the Official Gazette dated 29.07.2018 and numbered 30493.
  • Announcement Regarding Activation of the Organized Wholesale Natural Gas Market was published on the official website of the Energy Market Regulatory Authority ("EMRA") on 02.08.2018.
  • The Regulation on the Amendment to the Electric Market License Regulation entered into force through publication in the Official Gazette dated 16.08.2018 and numbered 30511.
  • The 2018 June Monthly Sector Report was published on the official website of EMRA on 17.08.2018.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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