2 Mar 2017
Turkey has increased administrative fines relating to electricity, natural gas, petroleum and liquefied petroleum gas by 3.83% for 2017. The revised rates will apply for administrative fines issued between 1 January 2017 and 31 December 2017. The increases are […]
2 Mar 2017
Turkey’s Deputy Prime Ministry has announced procedures and principles for management, sale, termination and liquidation of companies which are under the trusteeship of the Savings Deposit Insurance Fund (“Fund”). The provisions apply until the end of the investigation and […]
1 Mar 2017
In Turkey, electricity consumers are only entitled to choose their electricity suppliers if their energy consumption at the location exceeds a certain threshold (“Eligible Consumers”; more). The Energy Market Regulatory Authority has made changes to the processes for Eligible […]
27 Feb 2017
The lower limit for Administrative Fines under the Law on the Protection of Competition number 4054 has increased by 3.83% for 2017, from TRY 17,700 to TRY 18,377. The revised lower limit will apply for administrative fines issued in […]
27 Feb 2017
Turkey’s Central Bank has updated the default interest ratio to 10.75% for late payments made to creditors in the context of commercial transactions for goods and services. The minimum compensation amount which creditors can claim for recovery cost has […]
24 Feb 2017
Turkey’s block exemption for distribution agreements in the motor vehicle sector has been amended. Changes aim to address problems encountered during implementation of the scheme, as well as experiences gained from similar exemptions in other sectors. Changes differentiate the […]
23 Feb 2017
Turkey’s Energy Markets Regulatory Authority (“Authority”) has amended how distribution and bunker fuel delivery license holders in the petroleum market must prove they meet the minimum asset thresholds. From 2018, such license holders will be able to submit the […]
23 Feb 2017
Turkey has taken a series of new measures involving companies and public institutions in the wake of the State of Emergency first declared on 21 July 2016. Notable measures include allowing collection of certain receivables at a fixed Turkish […]
22 Feb 2017
Turkey’s Capital Markets Board (“Board”) has amended provisions governing the investments and activities of real estate investment companies (“Companies”). Notably, real estate investment companies can now pledge, lien or otherwise encumber their own assets, as well as provide securities, […]
20 Feb 2017
The Turkish Competition Board (“Board”) recently published a short form decision concluding that the Turkish Pharmacists Association had abused its dominant market position when procuring pharmaceuticals from abroad by executing exclusivity agreements with pharmaceutical suppliers. To procure pharmaceutical products […]
