Recent Keynotes of September 2017

International Agreements

  • The Resolution of the Council of Ministers dated 17.07.2017 and numbered 2017/10623 on the Ratification of the Financing Agreement regarding the ENI Cross-Border Cooperation at the Black Sea Basin 2014-2020 was published in the Official Gazette dated 21.08.2017 and numbered 30161(bis).
  • The Resolution of the Council of Ministers dated 07.2017 and numbered 2017/10619 on the Ratification of the Additional Protocol to the Convention on the Contract for the International Carriage of Goods by Road concerning the Electronic Consignment Note with an attached reservation was published in the Official Gazette dated 22.08.2017 and numbered 30162(bis).
  • The Resolution of the Council of Ministers dated 07.2017 and numbered 2017/10534 on the Ratification of the Intergovernmental Agreement on the Trans-Asian Railway Network with an attached reservation was published in the Official Gazette dated 22.08.2017 and numbered 30162(bis).
  • The Resolution of the Council of Ministers dated 07.2017 and numbered 2017/10650 on the Ratification of the Convention on the Suppression of Unlawful Acts relating to International Civil Aviation with attached declaration and reservation was published in the Official Gazette dated 24.08.2017 and numbered 30164(bis).
  • The Resolution of the Council of Ministers dated 07.2017 and numbered 2017/10652 on the Ratification of the Agreement between the Government of the Republic of Turkey and the Government of the Republic of Yemen on Co-Operation and Mutual Assistance in Customs Matters was published in the Official Gazette dated 27.08.2017 and numbered 30167.
  • The Resolution of the Council of Ministers dated 08.2017 and numbered 2017/10715 on the Execution of the Grant Agreement between the Government of the Republic of Turkey and the Government of the Islamic Republic of Pakistan was published in the Official Gazette dated 18.09.2017 and numbered 30184(bis).
  • The Resolution of the Council of Ministers dated 08.2017 and numbered 2017/10736 on the Ratification of the Turkish-Russian Joint Committee Meeting Protocol on Road Transport was published in the Official Gazette dated 18.09.2017 and numbered 30184(bis).
  • The Resolution of the Council of Ministers dated 08.2017 and numbered 2017/10739 on the Ratification of the Air Services Agreement between the Government of the Republic of Turkey and the Government of the Republic of Ecuador was published in the Official Gazette dated 18.09.2017 and numbered 30184(bis).
  • The Resolution of the Council of Ministers dated 08.2017 and numbered 2017/10747 on the Ratification of the Air Services Agreement between the Government of the Republic of Turkey and the Government of the Republic of Panama was published in the Official Gazette dated 18.09.2017 and numbered 30184(bis).
  • The Resolution of the Council of Ministers dated 08.2017 and numbered 2017/10727 on the Ratification of the Agreement among the Republic of Turkey, the Hellenic Republic and the Italian Republic concerning the Development of the Turkey-Greece-Italy Gas Transportation Corridor was published in the Official Gazette dated 19.09.2017 and numbered 30185.

Council of Ministers Resolutions

  • The Annexed Resolution of the Council of Ministers dated 15.08.2017 and numbered 2017/10725 to the Resolution on the Import Regime was published in the Official Gazette dated 16.09.2017 and numbered 30182.
  • The Resolution of the Council of Ministers dated 15.08.2017 and numbered 2017/10726 regarding the Amendment on the Annex to the Resolution on the Import Regime was published in the Official Gazette dated 16.09.2017 and numbered 30182.
  • The Resolution of the Council of Ministers dated 08.2017 and numbered 2017/10718 on the Execution of the Resolution regarding the Payments to be made with Turkish Lira in Free Zones was published in the Official Gazette dated 20.09.2017 and numbered 30186.

Legislation

  • The Regulation on the Amendment to the Regulation on Sub-Employment entered into force through publication in the Official Gazette dated 25.08.2017 and numbered 30165.
  • The Regulation on the Amendment to the Regulation on Working Time concerning the Labor Act entered into force through publication in the Official Gazette dated 08.2017 and numbered 30165.
  • The Regulation on the Amendment to the Regulation on Overtime Work and Working Extra Periods concerning the Labor Act entered into force through publication in the Official Gazette dated 08.2017 and numbered 30165.
  • The Communiqué on the Supervision on the Imports (Communiqué No: 2017/7) was published in the Official Gazette dated 09.2017 and numbered 30174. This Communiqué enters into force on the 30th day following the date of its publication.
  • The Communiqué on Supporting Agricultural Investments under Rural Development Supports (Communiqué No: 2017/22) entered into force through publication in the Official Gazette dated 09.2017 and numbered 30179.
  • The Regulation on the Amendment to the Regulation on Project and Activity Support of Development Agencies entered into force through publication in the Official Gazette dated 15.09.2017 and numbered 30181.
  • The Regulation on Procedures and Principles of Participating Insurance was published in the Official Gazette dated 20.09.2017 and numbered 30186. This Regulation enters into force three months following the date of its publication.
  • The Communiqué on the Amendment to the Communiqué on the Financial Statements to be disclosed to the Public by Banks, as well as Explanations and Footnotes thereof, was published in the Official Gazette dated 20.09.2017 and numbered 30186(bis). This Communiqué enters into force on 01.01.2018.
  • The Communiqué on the Uniform Chart of Accounts and Prospectus of the Chart of Accounts was published in the Official Gazette dated 09.2017 and numbered 30186(bis). This Communiqué enters into force on 01.01.2018.
  • The Communiqué on the Uniform Chart of Accounts and Prospectus of the Chart of Accounts to be Applied by Participation Banks was published in the Official Gazette dated 09.2017 and numbered 30186(bis). This Communiqué enters into force on 01.01.2018.

Competition Board Decisions

  • The Competition Board (“Board”) granted individual exemption to the Amended and Restructured Network Alliance and Processing Services Agreement, a revised version of the executed agreement on implementation of the national card system, between Bankalararası Kart Merkezi A.Ş. and Discover Financial Services LLC. (22.08.2017, 17-27/440-191)
  • The Board granted individual exemption to the Exclusive Distribution Framework Agreement on Tenders executed between Novo Nordisk Sağlık Ürünleri Tic. Ltd. Şti. and Aksel Ecza Deposu Ticaret A.Ş. (07.09.2017, 17-28/461-200)
  • The Board granted two years of individual exemption to the “THY Frequent Flyer Program Miles & Smiles Credit Card Cooperation Agreement,” executed between Türk Hava Yolları A.O. and Türkiye Garanti Bankası A.Ş. (07.09.2017, 17-28/465-204)

Mergers and Acquisitions

  • The Board decided that the establishment of a joint venture by acquisition of certain amount of shares of GS Renewable Holdings GK that owns all shares of Japan Renewable Energy Corporation, by Colindale Investment Private Limited is not subject to authorization. (22.08.2017, 17-27/447-BD)
  • The Board authorized the indirect acquisition of Nature’s Bounty Co. by KKR & Co. L.P. (22.08.2017, 17-27/455-196)
  • The Board authorized the acquisition of the shares of Biotest AG through the voluntary share purchase offer by Tiancheng Germany Pharmaceutical Holdings (22.08.2017, 17-27/437-190)
  • The Board authorized the acquisition of a certain number of shares of Yem-Vit Vitaminli Yem Katkı Maddeleri San. ve Tic. A.Ş. by Devenish Nutriton Limited. (22.08.2017, 17-27/436-189)
  • The Board decided that the acquisition of ES Yayıncılık ve Medya Yatırım Hizmetleri A.Ş. and its subsidiaries, which are incorporated within the Sancak Group by Zeki YEŞİLDAĞ, is not subject to authorization. (07.09.2017, 17-28/475-BD)
  • The Board decided that the indirect acquisition of the sole control of Cortefiel S.A. by CVC Capital Partners SICAV-FIS S.A via CVC Funds and by PAI Partners S.A.S via PAI IV Funds is not subject to authorization. (07.09.2017, 17-28/474-BD)
  • The Board decided that the acquisition of a certain number of shares of Zetaş Zemin Teknolojisi A.Ş. (“Company”) by Soletanche Freyssinet SA, which currently held a certain number of shares of the Company, is not within the scope of an application. (07.09.2017, 17-28/473-BD)
  • The Board authorized the acquisition of the sole control over Eczacıbaşı-Monrol Nükleer Ürünler Tic. ve San. A.Ş. under the joint control of the Eczacıbaşı Group and Bozluolçay Family by Eczacıbaşı Holding A.Ş., EİS Eczacıbaşı İlaç Sınai ve Finansal Yatırımlar San. ve Tic. A.Ş. and EİP Eczacıbaşı İlaç Pazarlama A.Ş. (07.09.2017, 17-28/478-206)
  • The Board authorized the acquisition of a certain number of shares of Mersin Uluslararası Liman İşletmeciliği A.Ş. by Global InfraCo SP NEUM SLU from Akfen Holding A.Ş. (07.09.2017, 17-28/464-203)
  • The Board authorized the acquisition of the sole control over İzmir Doğalgaz Dağıtım Ticaret ve Taahhüt A.Ş., under the joint control of Kolin Enerji Yatırımları A.Ş. and Türkerler İnşaat Tur. Mad. Enerji Üretim ve Tic. A.Ş. through share purchase by Kolin Enerji Yatırımları A.Ş. (07.09.2017, 17-28/457-198)
  • The Board authorized the merger of the Huntsman Corporation and Clariant AG through the wholly-owned subsidiary of Clariant AG. (07.2017, 17-28/456-197)

Energy

  • The Energy Market Regulation Authority announced the release of the Electricity Market Sector Report of June 2017, the Petroleum Market Sector Report of June 2017, the Liquidated Petroleum Gas Market Sector Report of June 2017, and the Natural Gas Market Sector Report of June 2017 on 25.08.2017.