Recent Keynotes of May 2022
International Agreements
- The Resolution of the President dated 23.04.2022 and numbered 5520 on the Approval of the Agreement between the Government of the Republic of Turkey and the Government of the Republic of Cote D’Ivoire Concerning the Reciprocal Promotion and Protection of Investments was published in the Official Gazette dated 24.04.2022 and numbered 31819.
- The Resolution of the President dated 23.04.2022 and numbered 5525 on the Approval of the Agreement Between the Government of the Republic of Turkey and the Government of the Republic of Rwanda Concerning the Reciprocal Promotion and Protection of Investment was published in the Official Gazette dated 24.04.2022 and numbered 31819.
Resolutions of the President
- The Resolution of the President dated 19.04.2022 and numbered 5444 on the Amendment of the Resolution Concerning the Implementation of Additional Customs Duty on Imports entered into force through publication in the Official Gazette dated 20.04.2022 and numbered 31815.
- The Resolution of the President dated 20.04.2022 and numbered 5478 on the Amendment of the Resolution Concerning Granting Project-Based State Aid to Investments was published in the Official Gazette dated 21.04.2022 and numbered 31816. The provisions of this Resolution enter into force on different dates.
- The Resolution of the President dated 12.05.2022 and numbered 5548 on the Amendment of the Resolution on State Aids in Investments entered into force through publication in the Official Gazette dated 13.05.2022 and numbered 31834.
Legislation
- The Communiqué (Serial No: 41) on the Amendment to the Value Added Tax General Implementation Communiqué was published in the Official Gazette dated 21.04.2022 and numbered 31816. The provisions of this Communiqué enter into force on different dates.
- The Regulation on the Amendment to the Regulation on Insurance Arbitration entered into force through publication in the Official Gazette dated 22.04.2022 and numbered 31817.
- The Communiqué (No: 2022/17) on the Amendment to the Communiqué on Required Reserves (No: 2013/15) was published in the Official Gazette dated 23.04.2022 and numbered 31818. The provisions of this Communiqué enter into force on different dates.
- Law on Sports Clubs and Sports Federations No. 7405 entered into force through publication in the Official Gazette dated 26.04.2022 and numbered 31821.
- The Regulation on the Amendment to the Regulation on the Procedures and Principles Regarding the Provision of External Financing within the Scope of the Law No. 4749 entered into force through publication in the Official Gazette dated 28.04.2022 and numbered 31823.
- The Regulation on the Amendment to the Insurance Arbitration Commission Expert Witness Regulation entered into force through publication in the Official Gazette dated 29.04.2022 and numbered 31824.
- The Communiqué (No: 2022/18) on the Amendment to the Communiqué on Required Reserves (No: 2013/15) entered into force through publication in the Official Gazette dated 11.05.2022 and numbered 31832.
- The Regulation on the Amendment to the Regulation on the Implementation of the Turkish Citizenship Law was published in the Official Gazette dated 13.05.2022 and numbered 31834. The provisions of this Regulation enter into force on different dates.
- The Communiqué on Prevention of Unfair Competition in Imports (No: 2022/13) entered into force through publication in the Official Gazette dated 13.05.2022 and numbered 31834.
- The Communiqué on Prevention of Unfair Competition in Imports (No: 2022/14) entered into force through publication in the Official Gazette dated 13.05.2022 and numbered 31834.
- The Communiqué (Serial No: 20) on the Amendment to the General Communiqué on Corporate Tax (Serial No: 1) entered into force through publication in the Official Gazette dated 14.05.2022 and numbered 31835.
- The General Communiqué on Tax Procedural Law (Sequence No: 537) entered into force through publication in the Official Gazette dated 14.05.2022 and numbered 31835.
Mergers and Acquisitions
- The Competition Board (“Board”) authorized the acquisition of sole control of Karel Elektronik Sanayi ve Ticaret Anonim Şirketi and Daiichi Elektronik Sanayi ve Ticaret Anonim Şirketi by Öncü Girişim Sermayesi Yatırım Ortaklığı Anonim Şirketi (21.04.2022, 22-18/298-132)
- The Board authorized the acquisition of the joint control of Sigma Luxco 2 S.à r.l and King TopCo Limited ultimately by Montagu Private Equity LLP and Hg Capital LLP.(21.04.2022, 22-18/298-132)
- The Board authorized the acquisition of joint control of Jorf Fertilizer Company III, S.A. by Koch Industries, Inc. through OCP S.A. and KAES Phosphate Holdings, LLC. (21.04.2022, 22-18/297-131)
- The Board decided that the acquisition of sole control of the voting rights of Luminator Group LLC indirectly through Blackstone Alternative Credit Advisors LP, wholly owned and controlled by Blackstone Inc. and its subsidiaries and funds managed or advised by Blackstone or its subsidiaries, is not subject to authorization. (28.04.2022, 22-20/340-BD)
- The Board authorized the acquisition of sole control over Tenneco Inc. by Pegasus Holdings III, LLC, a company controlled by affiliates of Apollo Management L.P. (28.04.2022, 22-20/339-148)
- The Board authorized the acquisition of the shares of Mapa İnşaat ve Ticaret A.Ş. and Limak İnşaat Sanayi ve Ticaret A.Ş. in İGA Havalimanı İşletmesi A.Ş., IST Bilişim Teknolojileri A.Ş., TAYA Liman İşletmesi A.Ş., TAYA Gayrimenkul Yatırım İşletmeleri A.Ş. and İGA Güvenlik Hizmetleri A.Ş. by Cengiz İnşaat Sanayi ve Ticaret A.Ş. and Kalyon Havacılık ve İnşaat A.Ş. and, the acquisition of the shares of Murathan Doruk GÜNAL and Turhan Serdar BACAKSIZ in TAYA Yolcu Hizmetleri A.Ş. and TAYA Petrol Yatırımları A.Ş. by Mehmet KALYONCU and Cengiztur Turizm A.Ş. The Board decided that the acquisition of the shares of Mapa İnşaat ve Ticaret A.Ş. and Limak İnşaat Sanayi ve Ticaret A.Ş. in the İGA Havalimanları İnşaatı Adi Ortaklığı Ticaret İşletmesi by Cengiz İnşaat Sanayi ve Ticaret A.Ş. and Kalyon Havacılık ve İnşaat A.Ş. is not within the scope. (28.04.2022, 22-20/338-146; 22-20/338-147; 22-20/338-BD)
- The Board authorized the acquisition of all shares of Dubai Starr Sigorta A.Ş., controlled by Oman Insurance Company, by VHV Reasürans A.Ş. (28.04.2022, 22-20/337-145)
- The Board authorized the acquisition of the joint control of the plastic film business line of the B.C. Jindal (Jindal) family by Jindal Poly Films Limited which is a Jindal group company, and Project Holdings Fourteen Limited which is considered to be indirectly controlled by Brookfield Asset Management Inc. (28.04.2022, 22-20/324-114)
- The Board authorized the acquisition of the joint control of Refresco Deutschland Holding GmbH by KKR & Co. Inc. indirectly through Pegasus BidCo B.V. by KKR & Co. Inc. (28.04.2022, 22-20/323-143)
- The Board authorized the establishment of a new joint venture by Daimler Truck AG, Traton SE (through its subsidiary Traton International S.A.) and Aktiebolaget Volvo (through its subsidiary Volvo Energy AB) which will operate to establish and develop a high-performance charging network for battery-electric heavy-duty trucks and buses. (28.04.2022, 22-20/320-142)
- The Board authorized the acquisition of sole control of Royal Boskalis Westminster N.V. by Hal Investments B.V. (28.04.2022, 22-20/319-141)
- The Board authorized the acquisition of the joint control of Prima Assicurazioni S.p.A. indirectly by The Carlyle Group Inc. (28.04.2022, 22-20/315-139)
- The Board authorized the indirect acquisition of the sole control of Nynas AB indirectly by Davidson Kempner Capital Management LP (28.04.2022, 22-20/314-138)
- The Board authorized the establishment of the joint venture NewCo by Phillips 66 and H2 Energy Europe AG (28.04.2022, 22-20/313-137)
- The Board authorized the acquisition of the sole control of Gavilon Agriculture Investment, Inc. by Viterra Limited (28.04.2022, 22-20/311-136)
- The Board decided that the acquisition of the joint control of YDA Havalimanı Yatırım ve İşletme A.Ş. by Ferrovial, S.A. through Ferrovial Airports International SE is not subject to authorization (12.05.2022, 22-21/358-BD)
- The Board authorized the acquisition of the indirect joint control of Impala Bidco S. à r.l. by Hg Capital LLP, EQT Fund Management S.à.r.l. and TA Associates Management LP. (12.05.2022, 22-21/354-152)
- The Board authorized the acquisition of the joint control of Citrix Systems, Inc. and TIBCO Software, Inc. indirectly by Elliott Investment Management L.P. and Vista Equity Partners Management, LLC. (12.05.2022, 22-21/344-149)
Energy
- The Decision of the Energy Market Regulatory Authority (“EMRA”) dated 21.04.2022 and numbered 10940 was published in the Official Gazette dated 22.04.2022 and numbered 31817.
- The Decision of EMRA dated 28.04.2022 and numbered 10952 entered into force through publication in the Official Gazette dated 29.04.2022 and numbered 31824.
- The Decisions of EMRA dated 28.04.2022 and numbered 10950, 10957 and 10961 entered into force through publication in the Official Gazette dated 30.04.2022 and numbered 31825.
- The Decisions of EMRA dated 12.05.2022 and numbered 10971, 10973 were published in the Official Gazette dated 13.05.2022 and numbered 31834.
- The Decision of EMRA dated 18.05.2022 and numbered 10978 entered into force through publication in the Official Gazette dated 19.05.2022 and numbered 31840.
All rights of this article are reserved. This article may not be used, reproduced, copied, published, distributed, or otherwise disseminated without quotation or Erdem & Erdem Law Firm's written consent. Any content created without citing the resource or Erdem & Erdem Law Firm’s written consent is regularly tracked, and legal action will be taken in case of violation.
Other Contents
The Grand General Assembly of the Unification of Jurisprudence ("GGAUJ") ruled with the Decision of the Grand General Assembly of the Unification of Jurisprudence dated 28.04.2023 numbered 2021/5 E. 2023/2 K. ("Decision") that if the legal remedy period is erroneously indicated longer in the decision in...
The concept of estate, which can be considered as the foundation of our inheritance law, refers to all the property, rights, and debts belonging to an individual after their death. Throughout history, humans have been buried with their cherished belongings based on religious beliefs, but over time, it has been observed...
The Resolution of the President dated 21.07.2023 and numbered 7393 on the Approval of the Memorandum of Understanding between the Government of the Republic of Türkiye and the Government of the People’s Democratic Republic of Algeria on Cooperation in the Field of Mining was published in the Official...
The Grant Agreement signed on 06.04.2023 between the Ministry of Treasury and Finance of Republic of Türkiye, Development and Investment Bank of Turkey (TKYB) and German Development Bank (KfW) was published in the Official Gazette dated 04.07.2023 and numbered 32238...
Inheritance contracts are contracts involving a testamentary disposition concluded by the legator, with her inheritor or a third party. A testamentary disposition is a legal transaction that includes the orders of the legator that she wishes to be carried out after her death. Testamentary disposition term is used in two...
The Resolution of the President dated 06.06.2023 and numbered 7302 on the Ratification of the Economic and Financial Cooperation Agreement between the Republic of Türkiye and the Turkish Republic of Northern Cyprus for 2023 was published in the Official Gazette dated 07.06.2023 and numbered 32214...
This study examines the decision ("Decision") of the Turkish Constitutional Court ("CC") dated 22.02.2023, published in the Official Gazette on April 28, 2023, which abolished the first sentence of Article 187 of the Turkish Civil Code numbered 4721 ("TCC"), which obliges a woman to take her husband's surname upon...
The Resolution on the Approval of the Annexed Amendment Letter Regarding the Separate Agreement on the Financing Agreement between the Ministry of National Education of the Republic of Turkey and the German Development Bank (KfW) on the Clean Energy and Energy Efficiency Measures Project...
The Resolution of the President dated 01.04.2023 and numbered 7025 on the Approval of the Protocol on the Accession of the Republic of Finland to the North Atlantic Treaty was published in the Official Gazette dated 02.04.2023 and numbered 32151...
The Resolution of the President dated 08.03.2023 and numbered 6913 on the Ratification of the Agreement between the Republic of Turkey and the European Union on the Participation of the Republic of Turkey in the Union Program on Cooperation in the Customs Area, ‘Customs’, effective from 1 January 2021...
The Resolution of the President dated 25.01.2023 and numbered 6728 on the Application of the Exemption in the Fourth Paragraph of the Provisional Article 14 of the Corporate Tax Law No. 5520 to the Foreign Currencies in the Balance Sheets of the Corporations as of 31.12.2022 was published in the Official...
The Resolution on the Approval of the Protocol between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus on the Deployment of Energy Transmission Lines of Geçitkale Airport (Resolution No: 6647) entered into force through publication in the...
The Resolution of the President dated 23.11.2022 and numbered 6416 on the Approval of the Economic and Financial Cooperation Agreement - Additional Agreement - signed between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus on...
The Resolution of the President dated 19.10.2022 and numbered 6238 on the Approval of the Memorandum of Understanding Between the Government of the Republic of Turkiye and the Government of the Federal Republic of Nigeria on Cooperation in the Field of Energy was published in the Official Gazette...
The Resolution of the President dated 26.09.2022 and numbered 6090 on the Approval of the Annexed Amendment Protocol signed by the Exchange of Letters dated 12.08.2022 and 31.08.2022 between the Government of the Republic of Turkey and the European Commission on the Amendment to...
The Resolution of the President dated 15.09.2022 and numbered 6080 on the Approval of the Memorandum of Understanding About Implementation of the Multilateral Tax Program Between the Government of the Republic of Turkey and the Organization for Economic Cooperation and Development at...
Since social media has turned into a modern mass communication tool, the concepts of advertising and marketing have been brought to a new dimension. Influencers, who promote various products and services by "influencing" their audience through social media, are driving the next generation of...
The Resolution of the President dated 20.07.2022 and numbered 5801 on the Determination of the Default Interest Rate under the First Paragraph of Article 51 of the Law numbered 6183 on the Collection Procedure of Public Receivables as 2.5% to be Applied Separately for Each Month, was published...
Decision dated 27.06.2022 and numbered 5751 on the Ratification of the Fund Grant Agreement signed between Republic of Turkey Ministry of Labor and Social Security and International Bank for Reconstruction and Development, on 05.05.2022...
The Resolution of the President dated 23.05.2022 and numbered 5596 on the Ratification of the Economic and Financial Cooperation Agreement between the Government of the Republic of Turkey and the Government of the Turkish Republic of Northern Cyprus was published in the Official Gazette dated...
In a decision dated 29.09.2021 with application number 2018/357 (“Decision”), the Constitutional Court decided by a large majority that the applicant's right to property was violated due to the fact that the immovables expropriated for the purpose of mass housing construction...
Pursuant to Art. 101 of the Turkish Civil Code (“CC”) No. 4721, foundations are an ensemble of assets that have legal personality, which comprises of sufficient assets and rights that are allocated by real and legal persons for a determined and perpetual objective. Foundations are legal persons that have “ideal...