One of our Clients operating in the constructions and luxury real estate field, has designed a wonderful luxury residence in a beautiful city on the Adriatic coast of Italy. All authorizations and needed documentation have properly been prepared and approved. The deal encompasses apartments, shops, restaurants and a hotel. We are looking for a potential […]
Recently, the Energy Markets Regulation Authority (“EMRA”) amended the Regulation on Implementation of National Markers in Petroleum Market (“Regulation”) by means of issuing a new regulation which was published in the Official Gazette dated June 12, 2015 (“Amending Regulation”). According to the Regulation, all petroleum products need to contain the national marker, a chemical substance […]
Client Alert – June 2015 The Regulation on Housing Finance Agreements was published in the Official Gazette dated May 28, 2015 (the “Regulation”), right after the Regulation on Consumer Loan Agreements (“Consumer Loan Regulation”) given that the Consumer Loan Regulation does not apply to housing finance agreements (“Agreement”). The Regulation and the Consumer Loan Regulation […]
One of our client, a leading auto component manufacturer in India and Europe is seeking Units for takeover or JV. Ticket size not a challenge but should have good customer base and support. Details can be shared at [email protected] +91-9899799041 CA. Pushpendra Surana Managing Partner S. K. Surana & Co. New Delhi India
A Joint Stock Company (“JSC”) is a limited liability company which acquires legal personality upon registration with the Trade Registry. JSCs may be established by minimum one real person or legal entity shareholder. Minimum capital requirement for a JSC is presently 50,000 TL and liability of shareholders is limited to the amount of their respective […]
Turkish Pharmaceuticals and Medical Equipment Institution (the “Institution”) issued a new Regulation on the Promotional Activities of Human Medicinal Products (the “New Regulation”) which has been published in the Official Gazette dated 03.07.2015. The New Regulation abolishes and replaces the Regulation that has been in effect since 26.08.2011 (the “Old Regulation”). Save for a number […]
Overview of the Legislative Framework Presently, there is not any specific law or regulation which provides for an overall legal framework for data protection in Turkey. Privacy and data protection rules are stipulated in the Turkish Constitution and in several other main pieces of legislation, such as the Civil Code, the Code of Obligations and […]
The Capital Markets Board of Turkey (“CMB”) has recently announced various amendments to capital markets legislation and has also issued a new regulation in relation to the Investor Compensation Center. Please note that the explanations in this client alert include only a brief summary of the amendments and aim to shed light on certain vital […]
Mining Law No. 3213 (“Mining Law”) was amended with the Law Amending the Mining Law and Other Laws No. 6592, which was published in the Official Gazette on 18.02.2015 (“Amendment Law”). The Amendment Law has introduced significant changes, affecting a range of subjects the Mining Law regulates, from licensing to fees. To list a few […]
The long-awaited Retail Trade Act No. 6585 (“Retail Trade Act”) has been published in the Official Gazette today (29.01.2015) and introduced many adjustments that would affect the shopping mall sector. As per the new legislation, shopping malls are included within the definition of retail business. In that respect, any business (establishment) which bear a building […]
The new Regulation on Commercial Advertising and Unfair Commercial Practices has recently been published in the Official Gazette dated 10.01.2015 and numbered 29232 (“New Regulation”) by repealing the old Regulation on the Principles and Implementation Guidelines for Commercial Advertisements and Announcements published in the Official Gazette dated 14.06.2003, numbered 25138 (“Old Regulation”) and the Communiqué […]
The Communiqué on Squeeze-Out and Put Option Rights No: II.27.1 (“Old Communiqué”) published in Official Gazette dated 02.01.2014 and numbered 28870 has recently been repealed by the Communiqué on Squeeze-Out and Put Option Rights No:II-27.2 published in Official Gazette dated 12.11.2014 and numbered 29173 (“New Communiqué”). Undoubtedly, the most remarkable changes introduced by the New […]