Recent Keynotes of March 2017

International Agreements

  • Law numbered 6775 on the Approval of the Ratification of the Free Trade Agreement between the Republic of Turkey and the Republic of Singapore, entered into force through publication in the Official Gazette dated 08.03.2017 and numbered 30001.
  • Law numbered 6792 on the Approval of the Ratification of the Memorandum of Understanding on Aligning the Silk Road Economic Belt and the 21st Century Maritime Silk Road and the Middle Corridor Initiative between the Government of the Republic of Turkey and the Government of the Peoples’ Republic of China, entered into force through publication in the Official Gazette dated 08.03.2017 and numbered 3001.
  • Law numbered 6810 on the Approval of the Ratification of the Memorandum of Understanding between the Republic of Turkey and the Islamic Development Bank Group on Cooperation for the Promotion of Investments and Trading between Turkey and Islamic Development Bank Member States, entered into force through publication in the Official Gazette dated 09.03.2017 and numbered 30002.
  • Law numbered 6811 on the Approval of the Ratification of the Charter of the Developing Eight Economic Cooperation Organization, entered into force through publication in the Official Gazette dated 09.03.2017 and numbered 30002.
  • Law numbered 6820 on the Approval of the Ratification of the Protocol Amending the Prevention of Double Taxation of Taxes on Income and Anti-Evasion Agreement between the Republic of Turkey and the Republic of South Africa executed in Pretoria, entered into force through publication in the Official Gazette dated 09.03.2017 and numbered 30002.
  • Law numbered 6836 on the Approval of the Ratification of the Agreement of the Economic Cooperation Organization Reinsurance Company, entered into force through publication in the Official Gazette dated 16.03.2017 and numbered 30009.
  • Law numbered 6839 on the Approval of the Ratification of the Memorandum of Understanding for Free Trade Zone Cooperation between the Republic of Turkey Prime Ministry Undersecretariat of Foreign Trade and the Iraqi Republic Ministry of Commerce, entered into force through publication in Official Gazette dated 16.03.2017 and numbered 30009.

Council of Ministers Resolutions

  • The Resolution of the Council of Ministers dated 13.02.2017 and numbered 2017/9917 with respect to the Amendment to the Resolution regarding Investment Incentives implemented by the Government was published in the Official Gazette dated 22.02.2017 and numbered 29987.
  • The Resolution of the Council of Ministers dated 27.02.2017 and numbered 2017/9969 regarding the Amendment to the Resolution regarding Treasury Support to Credit Guarantee Institutions was published in the Official Gazette dated 10.03.2017 and numbered 30003.

Legislation

  • The Regulation Abrogating the Regulation on the Protection Measures for the Importation of the Goods Originating from the Peoples’ Republic of China, entered into force through publication in the Official Gazette dated 21.02.2017 and numbered 29986.
  • The Regulation Abrogating the Istanbul Stock Exchange Market Derivatives Exchange Regulation, entered into force through publication in the Official Gazette dated 24.02.2017 and numbered 29989.
  • Communiqué numbered 2017/2 and Amending the Communiqué Pertaining to the Mergers and Acquisitions Requiring the Authorization of the Competition Board (No: 2010/4), entered into force through publication in the Official Gazette dated 24.02.2017 and numbered 29989.
  • Communiqué Pertaining the Block Exemption for Vertical Agreements in Motor Vehicles Sector (Communiqué No: 2017/3), entered into force through publication in the Official Gazette dated 24.02.2017 and numbered 29989.
  • Communiqué Amending the Communiqué Pertaining to Financial Statements to be Disclosed by Banks and Related Statements and References, entered into force through publication in the Official Gazette dated 28.02.2017 and numbered 29993.
  • The Prime Ministry Circular Pertaining to Constitutional Amendment Referendum (Prime Ministry Circular No: 2017/2) was published in the Official Gazette dated 02.03.2017 and numbered 29995.
  • Communiqué Pertaining Implementation Fundamentals of Investment and Working Capital Loan with Low Interest Provided by T.C. Ziraat Bankası A.Ş. and Agricultural Credit Cooperatives Regarding Agricultural Production (Communiqué No: 2017/15), entered into force through publication in the Official Gazette dated 03.03.2017 and numbered 3001.

Competition Board Decisions

  • The Competition Board (“Board”) granted individual exemption to sublicense agreements related to the approval of the American Express branded cards executed between Türkiye Garanti Bankası A.Ş. and Türkiye Vakıflar Bankası T.A.O., Denizbank A.Ş., Türkiye İş Bankası A.Ş., Türkiye Ekonomi Bankası A.Ş.. (28.02.2017, 17-09/106-48)
  • The Board granted individual exemption to the “Cooperation Agreement” regarding the presentation of the Seredite goods executed between GlaxoSmithKline İlaçları San. ve Tic. A.Ş. and Bilim İlaç San. ve Tic. A.Ş.. (13.03.2017, 17-10/119-54)

Mergers and Acquisitions

  • The Board authorized the acquisition of a certain amount of the shares of Asay İletişim Hizmetleri Sanayi ve Ticaret A.Ş., Asay VAD Otomasyon Teknolojileri Sanayi ve Ticaret A.Ş., Asay Enerji İnşaat Sanayi ve Ticaret A.Ş. ve Asay Elektronik Malzemeleri Servis Hizmetleri Sanayi ve Ticaret Ltd. Şti by EOH Turkey Bilişim ve Yazılım Hizmetleri A.Ş.. (23.02.2017, 17-08/85-35)
  • The Board authorized the acquisition of the sole control of Limileds Holding B.V. by Apollo Management, L.P.. (23.02.2017, 17-08/86-36)
  • The Board authorised the establishment of joint control of Eurodrip S.A. and Rivulis Irrigation Ltd. by FIMI V 2012 Ltd., Paine & Partners, LLC and its affiliates. (23.02.2017, 17-08/87-37)
  • The Board authorized the acquisition of the sole control of the undertaking to be constituted by the merger of the petrol and gas activities of General Electric Company and the activities of Baker Hughes Incorporated by General Electric Company. (28.02.2017, 17-09/101-44)
  • The Board authorized the transformation of Globallogics Holdings Limited to a joint venture by the acquisition of a certain amount of its shares by Canada Pension Plan Investment Board. (28.02.2017, 17-09/102-45)
  • The Board authorized the acquisition of the sole control of Korozo Ambalaj San.ve Tic. A.Ş., Koroplast Temzilik Ambalaj Ürün, San. ve Dış Tic.A.Ş., Meltem Turizm Tic.ve San. A.Ş. and Aslan Klişecilik San.ve Tic. A.Ş. by Actera Group. (28.02.2017, 17-09/103-46)
  • The Board authorised the acquisition of the indirect control of Cerba Healthcare by Public Sector Pension Investment Board and Partners Group AG. (28.02.2017, 17-09/104-47)
  • The Board authorized the acquisition of the sole control of Kion Group AG by Weichai Power Co. Ltd. (13.03.2017, 17-10/114-50)
  • The Board authorised the merger of Micro Focus International Plc and Entco Spinco which took over program work of Helett Packard Enterprise Company. (13.03.2017, 17-10/115-51)
  • The Board authorized the acquisition of the full control of Kurt ve Kurt İthalat İhracat ve Mümessillik A.Ş. by Hitachi Ltd. (13.03.2017, 17-10/118-53)

Energy

  • The Regulation Amending the Regulation Pertaining to the Documentation and Supporting of Renewable Energy Resources, entered into force through publication in the Official Gazette dated 23.02.2017 and numbered 29988.
  • The Regulation Amending the Electricity Market License Regulation entered into force through publication in the Official Gazette dated 24.02.2017 and numbered 29989.
  • Law numbered 6802 on the Approval of the Ratification of the Energy Cooperation Agreement between the Republic of Turkey and the Republic of France entered into force through publication in the Official Gazette dated 08.03.2017 and numbered 30001.
  • Law numbered 6804 on the Approval of the Ratification of the Memorandum of Understanding of Energy Cooperation between the Republic of Turkey and the Kingdom of Norway entered into force through publication in the Official Gazette dated 09.03.2017 and numbered 30002.
  • Energy Market Regulation Authority published in its website on 10.03.2017 the Announcement Regarding the Applications of Wind Power Relicenses.