01 January 2013
New Law on Financial Leasing, Factoring and Financing Companies Is Enacted:
Expected ever since the first unofficial draft was published by the Banking Regulation and Supervision Authority (BRSA), back in May 2008, the new Law on Financial Leasing, Factoring and Financing Companies numbered 6361 (Law No. 6361) has entered into force as of 13 December 2012 with the exception of certain provisions–, upon its publication on the Official Gazette numbered 28496.
01 December 2012
01 June 2011
New Regime for Arrest of Non-Turkish Vessels:
As a result of the Turkish Government’s continuing efforts to harmonise the country’s legislation with that of the EU and to modernise its old laws, some of which dates back to 1925, a new Turkish Commercial Code (the “New TCC”) was passed by the Parliament in January this year which will come into force on 1st July, 2012. The New TCC brings about a major overhaul of the laws of arrest of non-Turkish vessels within the Turkish jurisdiction.