News & Insight
The decision No. 9965-2 of the Electricity Market Regulatory Board (the “EMRB”) in relation to Principles and Procedures Regarding Electricity Futures Market Operation (the “EFM Principles and Procedures”) that regulates the futures transactions in the electricity market was published on the Official Gazette No. 31027 dated 02.02.2020. The effective date which was determined as 01.12.2020 […]
Enforcement of Russian Judgements As we explained in our previous insight regarding enforcement of foreign judgements in Turkey (which you may access by clicking here), in order for a foreign judgement to be enforced in Turkey a judgement to that effect needs to be acquired from a Turkish court. Apparently, the same rules and procedure, […]
1. Purpose and Scope Having been published on the on the Official Gazette No. 31304 dated 14.11.2020 the Regulation Regarding Renewable Energy Source Guarantee Certificate (the “Regulation”) regulates the establishment of renewable energy source guarantee certificate system (“YEK-G System”) which provides the opportunity to follow, prove and disclose the source of electricity supplied to the […]
1. Legislation Regarding Employee’s Duty of Non-Competition Article 444 of the Turkish Code of Obligations No. 6098 (the “TCO”) regulates the non-competition clauses in employment contracts as follows: “An employee with the capacity to act may undertake in writing to avoid competition with the employer, particularly to avoid establishing a competing business, working for a […]
The United Kingdom’s Financial Conduct Authority previously announced that London Interbank Offered Rate (“LIBOR”) is to be discontinued by the year 2021. As we are getting closer to the deadline, it is obvious that it will take some time to get used to the demise of this popular benchmark. However, for contracts using LIBOR with […]
Regulation Regarding Amendments to the Regulation Procedures and Principles of General Assembly Meetings of Joint Stock Companies and Ministry of Custom and Trade Representatives Attending the Meetings (the “Amending Regulation”) has been published on the Official Gazette No. 31269 dated 09.10.2020 and brings important changes to the Regulation on Procedures and Principles of General Assembly […]
Under Turkish Law, real estate investment funds are regarded as asset clusters without separate legal entity. These funds are managed by real estate investment fund companies on a fiduciary basis after acquiring the relevant approvals from the Securities Market Board (“SMB”). Utilising real estate investment funds for real estate investments in Turkey offer quite a […]
Pursuant to the Regulation on Commercial Communication and Commercial Electronic Messages (“Regulation”) data, audio and visual messages sent electronically via services such as telephones, call centres, facsimiles, automated calling machines, smart recording systems, electronic mails, text messages are regarded as commercial electronic messages. According to the regulative initiatives taken on commercial electronic messages, which are […]
In today’s Official Journal Information Technology Board’s decision regarding procedures and principles on social network providers’ obligations pursuant to Internet Act numbered 5651 has been published. In the decision, it is clarified that for online platforms the main purpose of which is not social interactions, but which have limited content allowing users to interact will […]
The Presidential Decree No. 2949 (the “Decree”) was published in the Official Gazette No. 31248 dated September 18th, 2020 according to which, Renewable Energy Resources (“YEK”) certified generation license holders that is to start operation between January 1, 2021 and June 30, 2021 subject to the Renewable Energy Resources (“YEK“) support mechanism (“YEKDEM”) will be […]