The Regulation Amending the Regulation on the Procedures for Electronic Sales under the Enforcement and Bankruptcy Law ("Amendment Regulation") was published in the Official Gazette dated April 24, 2025, and numbered 32880. It entered into force on its publication date.
The amendment concerns Article 14, paragraph 4 and 6, of the Regulation on the Procedures for Electronic Sales under the Enforcement and Bankruptcy Law ("Regulation"), which was originally published in the Official Gazette dated March 8, 2022, and numbered 31772.
The expression "one per thousand and at least one hundred Turkish lira" in Article 14, paragraph 4 of the Regulation has been amended as "five per thousand and at least one thousand Turkish lira."
Thus, the difference between bids submitted on electronic sales portals must not be less than five per thousand of the appraised value of the item on sale, and in any case, it must be at least one thousand Turkish liras.
With the Amendment Regulation, provisions regarding the procedures to be applied in the event that a new bid is submitted during the last 10 minutes of the auction have been added in accordance with the amendment made to Article 14, paragraph 6 of the Regulation. According to the new regulation:
- If a new bid is submitted within the last ten minutes of the auction period, the auction period will be extended by three minutes.
- Each time a new bid is submitted during the extension period, the time will be extended by an additional three minutes.
- If no new bids are submitted within the last extension period, the auction will end and the highest bidder will win the auction.
- The total extension time cannot exceed one hour.
- The one-hour period may be shortened, extended, or canceled by the decision of the Ministry of Justice, which will be announced on the Ministry's official website.
You can access the full text of the Regulation via this link (only available in Turkish).
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.
